The more I trade, the more I value horizontal S/R levels over trendlines

Follow the trend!

I dont agree with those who say to open a mini-live account right off. In my opinion, demo accounts are very useful (if taken seriously) to gain confidence and understanding of your system. For example, let's say you trade range breakouts - well, I ...

When do you know you ready to go from demo to real trading?

The theory is pretty simple when it comes to trading the trend: 1) spot the trend: you can use MAs for this (30, 50 and 100 SMAs being my favorite), or trendlines, or simply higher highs and higher lows for uptrend (viceversa for downtrend). 2) wait ...

How to enter a trend?

Haha!

Is MetaTrader worth the trouble?

Impatience, for sure. If I could bring myself down to remain totally sidelined until a perfect-scenario pops up (you know, those that scream "take me, take me, take meeee!!!"), I would be doing much much better. It's the "urge" to trade that makes ...

What's your negative emotion that you're most prone to when trading?

Hello Romandan, your answers are very much appreciated. Do you mind if I ask a little bit further? - What do you mean by RSI on 20, 30, 40, 60, 80? Could you please elaborate a little bit more on your usage of RSI? - After the Divergence of MACD and ...

Trading Naked - Reading Candlesticks and other Price Analysis

Romandan, which indicator (and what settings) have you found best suited to spot divergences on long term charts (daily, weekly and monthly)? Thank you.

Trading Naked - Reading Candlesticks and other Price Analysis

Yeah whipsaw was nasting in the first seconds upon release before taking off for an easy 30 pips target profit. I survived the whipsaw for few pips. From what I have been observing so far, the script seems to work best on high-impact news (NFP, ...

Burger Straddle Script

One important thing to remember about candlestick formation is that it is indeed more important WHERE in the chart they occur than the actual formation in itself. I mean, a hammer or a morning star right off a confluence of support (let's say a fib ...

Trading Naked - Reading Candlesticks and other Price Analysis

Hi WHTenn, So according to your chart, there is a spike in volume at NY open which almost equals that at London open? it's strange, because I certainly witness the London open activity on a daily basis but I rarely see that extra volatility at NY ...

True opening and closing hours?

Burger King, What if you wanted to just score the initial spike according to that particular news release's average move on the first thrust? for example, let's assume that throughout our own studies we realize that ISM Manufacturing spikes the ...

Burger Straddle Script

How about transforming the Trailing Stop feature into a BreakEven feature? I mean, most of the peeps use the Trailing stop on news trading to erase risk off the table. So how about a one-go B/E feature that moves stoploss to even at +5 or +10 pip? ...

Burger Straddle Script

Agreed. Elliot Waves are amazing in the left end of the chart but useless in the right end.

What is your favourite basic indicator???

Combine trendlines (and trendline breakouts) with horizontal levels of support/resistance (previous swing high/lows, pivot points, etc) and chart patterns (flags, 1-2-3's, triangles, etc) and you will be definitely onto something.

Trendline only system- Please critique

I agree with Mike W. People spend too much time designing/studying/analyzing black box or semi-automated systems where they would be much better off learning to actually trade and read the charts.

do automated trading systems work or...

Non of them is exactly what I am looking for unfortunately.

Average daily range in pips

What a wonderful comment Darkstar. I totally agree!

Microtrading the 1 minute chart

I use 00:00 GMT, which moreless coincides with Tokyo open. For my trading style, it works best when Tokyo has been range bound and slow moving, because we usually see some juicy moves as London's volume kicks in, signaling the overall intraday trend ...

"Exits are where the money is."

I forgot to add another element I factor in when it comes to close out the second half of my trade: - Average daily range for the specific pair I am trading. If I am trading for example GBPUSD, which has an average move of 130 pips per day, as soon ...

"Exits are where the money is."