Rewind Back 15 Years

I started trading in 2004 stock futures in the Indian markets using the simplest indicator,which are usually taught to students first,the erstwhile moving average.

That was enough and i did quite well.

Later in 2007 i decided to day trade and came across Al Brooks book, which impressed me a great deal, and spent the next 12 years trading his ideas and tried to trade every thing that came on the radar, with the result that i ended up over trading.

i am now rewinding back to my moving average with which i did quite well.

As the Americans say 'if it ain't broke, do not fix it' but i did desert a winning strategy and spent 12 years out in the cold.

I HOPE YOU ENJOY THIS RECORD, AS MUCH AS I KNOW, I WILL

 

So was it the day trading or was it Al Brooks's book(s) that led to your undoing?

 

Long trade eurusd...long at the blue arrow....stupid mistake buying above a doji.

But expect the market to go up past the previous high seen on the chart

 

Really? You think a so-called "doji" is to blame, and not perhaps, say, buying into a lower low?

 

If you're rewinding back to using just price moving averages (one indicator)...why does your charts have RSI indicator and you're talking about Doji's (Japanese Candlestick Analysis) ???

wrbtrader

 

DOJI's are meaningless and randomly formed, totally ignore.

The issue is, you bought into a downtrend, expecting it to reverse, the up move convinced you, you was missing out and got you to go Long, but it was a up move in a downward trend and the trend will often kick it's ass.

It's Tricky, your brain only sees the times its worked on the chart, ie the actual reversals not the fake outs.

Those SMA's give you direction, use them

 

closed long eurusd trade at the close of the last up bar seen for a profit of 19 pips or ticks

 

Where are students taught to trade with TA?

 

i use only one indicator but i rely upon market structure also

doji is not an indicator

and i am not using rsi for trading: just keeping an eye on it to see if it may add something,which i doubt.
i do focus more on market structure and my basic strategy is extremely simple: What goes up, will continue up after a rest

 

i know when to use them;