Forex Trading approaches

[neil]

This article, by a trader who sometimes posts on FF, might help someone to get started but be warned: it is not a "system," discretion and intelligence is still required
(Click on the link then open the doc.)

http://www.forexfactory.com/attachment.php?attachmentid=318875

 

[neil]

Trader-Dante of T2W http://www.trade2win.com/boards/search.php?searchid=7462118

and James16 on Forexfactory http://www.forexfactory.com/showthread.php?t=2331
might be useful as a background read.
There are other sources of info-see "articles" (top of page) and threads for first steps etc on Trade2win

 

[TheBramble]

Can any of them supply statements?

 

[neil]

Can any of them supply statements?

I know - very topical

 

[wackypete2]

Hi Neil,
The Trader_Dante link isn't working.
The ff article was interesting. Short and simple with the trend is the least stressful way to go. IMO, Bollinger Bands and simple moving averages are about the only really useful indicators. It's too bad most people seem to be looking for the get rich quick schemes.

It's also a shame that trading threads get ignored here anymore in favor of the cr@p threads with the local idiots.

Peter

 

[neil]

Hi Neil,
The Trader_Dante link isn't working.
The ff article was interesting. Short and simple with the trend is the least stressful way to go. IMO, Bollinger Bands and simple moving averages are about the only really useful indicators. It's too bad most people seem to be looking for the get rich quick schemes.

It's also a shame that trading threads get ignored here anymore in favor of the cr@p threads with the local idiots.

Peter

Try this link to one of his threads:


http://www.trade2win.com/boards/first-steps/121724-lessons-successful-traders.html

Then click on his name to access other threads started by him. Good luck.

 

[wackypete2]

Try this link to one of his threads:


http://www.trade2win.com/boards/first-steps/121724-lessons-successful-traders.html

Then click on his name to access other threads started by him. Good luck.

Yes, I've already read some good stuff from Dante
I was just pointing out the link problem for others who may be interested in his threads.
There is really some good reading here on t2w if people just take some time to look and learn.

Peter

 

[neil]

Originally Posted by wackypete2
Hi Neil,
It's also a shame that trading threads get ignored here in favor of the cr@p threads with the local idiots.

Peter

Agreed - As T2W ages it appears that gibberish is replacing trading related content. I am grateful I was here in the early days when educational content, not gibberish and egotistical posturing, was the norm.

 

[Jason101]

Originally Posted by wackypete2
Hi Neil,
It's also a shame that trading threads get ignored here in favor of the cr@p threads with the local idiots.

Peter

Agreed - As T2W ages it appears that gibberish is replacing trading related content. I am grateful I was here in the early days when educational content, not gibberish and egotistical posturing, was the norm.

What can be done?

 

[NVP]

Is'nt Trader_Dante the diluted version of James 16 ?

N

 

[neil]

Is'nt Trader_Dante the diluted version of James 16 ?

N

I don't think so having read both authors. Perhaps you could answer your own question by reading both and coming to your own conclusion - less risk of bias that way

 

[neil]

From James16 at FF.
Saw this description as one way of trading Support and Resistance. Known as "FTB" or First Time Back.
Price Action Trading:
As an aside- note any Pins and enveloping bars in the price action

james16 Chart Thread - Page 6937 @ Forex Factory

Also, look at the "Traffic versus Space" video of Mbqb11 for an example of using Pins within Price Action:

http://www.james16group.us/Guests/guestmaterial.html

 

[wackypete2]

The term Forex trading is shorthand for foreign exchange currency trading, which is the market based on speculating on the shifting values of different world wide currencies in the hope of making a profit.

Thanks for clearing that up
We were all wondering what that stuff we have been trading was called!!

Peter

 

[neil]

Thanks for clearing that up
We were all wondering what that stuff we have been trading was called!!

Peter

Forex...hmmmm........

 

[neil]

Of course, for making good returns through the forex market, a skilled and experienced forex broker can do a lot for you. An efficient forex broker always aims to assure that you deal with the best forex trading system routine and they provide you all the details needed to make the absolute decisions in the forex trading.

Wow - I'll go to the foot of our stairs:whistling

 

[neil]

Another simple method I noticed on another site - Support +Resistance + SMA.

Have a go someone and let us know how you get on

Daily Chart w/ 10sma @ Forex Factory

 

[wackypete2]

Very simple system. I have always liked the 10 and 20 SMA's even on smaller time frames.

Peter

 

[Vaco]

I think tha the biggest problem/trap is to jump straight into the smaller tf's because of the smaller stops and higher leverage that can be used in order spin up accounts and make vast amounts of cash quickly.

The problem is that these patterns fail far more often on the intraday tf's and there are more pitfalls to be aware of, time of day news anounce ments, rumours, and so called 'spikes' are all dangers to the smaller tf's.

Best thing a new aspiring trader can do is stay at 4h or above untill they are consistantly profitable and then move down to test the lower tf's.

Ofcourse if you have a proven mentor from the start or start off at a firm that trains you the above may not apply.

 

[neil]

Yes - consider that it is a reasonable assumption that the info in a one hour bar is more useful for analysis than the info in a five minute bar etc

 

[neil]

Hi Neil,
The Trader_Dante link isn't working.
The ff article was interesting. Short and simple with the trend is the least stressful way to go. IMO, Bollinger Bands and simple moving averages are about the only really useful indicators. It's too bad most people seem to be looking for the get rich quick schemes.

It's also a shame that trading threads get ignored here anymore in favor of the cr@p threads with the local idiots.

Peter

Yes -plenty of lemmings feeding on the crap in the, "get rich quick with no brain cells required, " threads.

However, for those looking for various approaches to trading I have found this article which relates to one approach at trading. Might be of use as a starting point for some here.

Strat's Long Term Stress Free Trading - Page 1090 @ Forex Factory

A bit on Price Action

http://www.stratsforextrading.com/dokuwiki/doku.php?id=path_of_learning:price_action_basics


Enjoy:smart: