Ahh..Through the sorrow, all through our splendour,don't take offence at my innuendo... Depending on bar.It can establish within certain range and the you trade it.Like this one i`ve been trading for hours now,back and forth. Hey Paddy, look,would it be allright with you,if you report me every bars doji via Skype? :eek:
I don't use TSI as an oscillator, and I'm aware of the statistical problems that I don't see with a system that wins 75%, 85%, and 55-65% of the time for those indicators.
With good trade setup and an edge, going for 1:1 is fine. I had a trade today, I made money on a scalp, and would have been stopped out if I held it for longer. However, if I am able to get in at a better position and recognize I am getting in at a good position, then going for more than 1:1 is possible for example risk 1 for 2 or even 3. If I get in later in the trade or a trend, then I may want to just get the scalp and not worry about trying for more profits. I don't trade 1 min time frames, but also I am not going to trade 10 min or higher time frames since my goal is to make money every day and not be in a trade for hours at a time. Also, my goal is to not over trade and not revenge trade. It easier psychologically for me if I am working hard and being patient for a trade that has a higher win rate than one that has 50% or less win rate. While low win rate systems do catch a big winner every so often, you would need to sit through many losses plus lose tons on commissions till you catch the big trade. You could have multiple days in a row with losing trades. I just need to realize on most days my system will work On days that it does not work, I need to not trade or stop trading so I don't rack up losses. If I take a loss, I can make it back another day when the system is working. Of course there are others that like to average into their positions. Sometimes this works if they have experience doing this correctly, and sometimes they lose money if the trend keeps going against them. Maybe they risk 4 to get 1 who knows, but they better have really high win rates to justify that risk.
=========== Create E-88 IBD defines trends with say 200 day moving average... Bears live below 200dma says Master Swing Trader book. Jack schwager 3 top trader books are a great re/read/read /study.
======== Create E-88; 2]Sure they do, as far as probabilities[trends], but it helps a lot if you are a trader/investor for years.7 or eight years may help;plenty of trends................................................... 3] A serious question, do you know why Singapore area is full of low tax businesses? Well partly perhaps because of Joseph Prince; but also because the trend is low taxes. In other words since the trend is low taxes, most likely to find low taxes in Singapore. Stop doing things like wondering why you are having trouble finding high taxes in a low tax trend area
You should teach yourself. All you need to know, you can find inside the charts. All information about future price movements is always right in the price. You should start to study candelsticks. You must search for patterns there, once you have found some, you must build indicators around it and search for pattern there as well. Historic price behaviour will tell you the odds of future price behaviour, this is what technical analysis is. For example, take a look on this chart here. How many patterns can you see. I can see a lot because i know, what i have to look for. You must be your own teacher. Good luck
I should say that price behaviour it just tracks the past; it does not predict the future. You have to use your own intelligence to draw conclusions about what the past activity of some traders may say about the future activity of other traders. People think that technical analysis is unreliable because they tend to pick the one thing they are comfortable with. The problem is that no single technical approach works all the time. You have to know when to use each method. It is experience and gut feel what makes one know when to use each approach. The reson for what a certain prices move does today may not be known for days, or weeks or months, but you must act instantly or be left so the why oh why can wait. I should say that a price action helps only those who can read it or rather who can assimilate what they read. Correctly reading price action is not something that can easily be taught. and over time I'm under the impression that it is more of an art form than a science. Best Regards
Greetings, i have a little different view. I know my historical backtesting statistical analyzing of market behaviour, tells me exactly the odds in % of the future market way, watched from the current price situation. Everything can happen all the time, but i can tell you the odds% what will happen, if this or that happens, thats the deal about it. Price action of course is necesarry, what means reading the tape, what means watch the naked chart. Its just information, you can add indicators to it, or whatever you want, all we traders need is the best possible information to predict the future odds. I dont see it as a art, its sience pur sience. The only art i know is to create trading strategies, but only in that sense, when you try to test what else could work and you must backtest it with statistic, what is then sience again. The reason why price moves, doesnt matter, only important is that it moves, which direction doesnt matter also. Important is only that you know when a new move starts and ends - or in other words, you need to know the odds %. Give me 90% that price will move down to this or that point in the next 1 to 4 days, and i will go short here right now - thats how i trade. But if the odds change, interpreted by some mystical signals i have created over the years, i will close the position. ----------------- P.S.: All this discussions about what is better or what really works, price action or technical analysis or whatever - is nonsense - its all just information out of price - price is all what counts. Ah, not quite correct, price moves = last historical prices and current price, thats at least what you need. Only the current bid and ask, does not help you anything, you need at least a chart. or you must trade based on fundamentals and try to be lucky, like warren buffet. ---------------- Best, HTR
HTR true price is all that matters agree with you about the nonsense debate "what's working and what doesn't work,TA or FA" all the best
yeah, thats funny...... because i could not do anything without my holy indicators. LOL But the true price is the best. Better as a wrong tick.