Read the method on the previous page Drew then commit this to memory: "You only need to master one setup to be a consistently profitable trader. Screen time will allow you to master one setup. After you have mastered one setup "own it" then you can add another setup. This can be an ongoing process developing your own style."
Drew, books are very llimited. They are better for general information that cutting edge trading. trader28 gave an excellent suggestion.
The 'full moon effect' is the result of peak solar ion reflection: http://www.superforce.com/ Attached is the Bart Simpson moon cycle technique â needs synchronizing ; )
Doh! If I would have traded today, based upon my charts prediction, I'd still be crying. LOL Even if I stood on my head it wasn't even remotely close, by any stretch of the imagination.
Guys, the purpose of this thread was not to say drop everything, the answer is in the moon - just in case anyone thinks this is THE answer. It was to help a few of you become aware of something that few traders take into account - lunal cycles. I use this WITH other other styles of analysis, so that I have a more complete grasp on what else is likely to move price action. What I like about lunal cycles is it warns in advance that a change of direction is due and often tells what that direction will be. You need to use a bit of common sense. If the cycle is topping and says down but your stochastic is on the bottom and pointing up, it's telling you the cycle has inverted. Anyway, I have attached some charts that show more of what I look at. Hope this helps some of you.
Lunar indicator for MetaStock, scroll down to 'Fun' : http://www.metastocktools.com/#metastock " Moontool for Windows is a Microsoft Windows application which calculates the phase of the Moon at either the current time or at any user-specified time and displays a picture of the Moon at the correct phase, either as a system tray icon or in an open window." http://www.fourmilab.ch/moontoolw/
Gann dates. If you trade retail dominated markets ignore them at your peril. Last one was Sept 4 (a holiday Monday so T+1) - usually the day before.
mokwit, bang on mate. Hope no one minds, but I've added some charts to show how I approached taking a closer look at how to make money in this market approaching the lunar change. Hope it helps.