Ok fellow traders, i seem to have some attention, i felt the heat from my inbox.
Firstly fibo_trader, thanks for your prompt response and getting us over the start line. "<<<<<< = more super heated steam out the ass?
"
It is evident that the content of my writing P!ssed you off somewhat evidenced by your subsequent follow up posts.
i apologize for hitting a nerve now chill and let me try and explain.
You have taken time to pick out excerpts from my posts and comment...., i am truly flattered.
Now i am in no way intending to disrespect/rewrite the book/re-invent the wheel in trading.
i am simply
going to prove a point, that has evolved and been indelibly imprinted on my psyche as i have progressed through the forex maze.
Trend lines, Channels, Triangles, Multi Time frame Analysis....... all require history/past behavior to equate "Technical Analysis"
earlier i was referring to the "reaction of a certain candle on a lower time frame chart at some point in time gone, and what to expect next."strategy.. there are millions out there!
Therefor i apologize for falling over my face earlier as Intraday vs Swing Trading is actually what is meant to discuss.
When i referred to moving average crossovers, they indeed work very well in trending markets, as do other strategies but fall short dismally in ranging markets.
Take say a 1 hour chart and apply a cross combination of any choice on it, backtest it and you will certainly here the squeek.
I started with Swing Trading"Letting Profits Run" and got to Intraday trading which
i believed, initially was a waste of time.
Now i have found the latter very...(calm down
)...profitable and not to mention, mentally stimulating.
i AM making Money almost on a Daily basis, and when i have shared this info, as i have mentioned above, to have a collective push at the right time, the objective is achieved as it indeed already is, as Big Money is Traded Intraday. (+-$5.1 Trillion)
(i do not intend to try to shift the poles
)
Not to mention "putting back" or contributing in a small way for all the resources made freely available out there from all the benevolent contributors during my forex journey, for others to benefit....,heck i am going to be alright when i retire.
Let's start then........................
1) Ok, so Fundamental Analysis 1 July 2019 "Pound Plummets against the Dollar"(Brexit)
This is evident on the 4hour Chart indeed and swing traders would catch the ride.
2) There are counter trends on the lower time frame(30 min) 10 july 2019(see insert)
This is my point... i made 1000+, yes a 1000+pips in Feb 2019 whereas swing trading would have netted 300 with lower gearing because of the initial stop loss, risk management employment
The
average stop loss in the intraday trading during this period was -15 pips, not to mention the increased gearing as the account advanced/grew.
Yes it is not always right...., but what is??
That is exactly why in trading that one would wisely risk between 2 and 10% per trade.
The main objective of this exercise in fact, is to hopefully help the users of this fine platform(it is after all a forum), to create a think tank/collective resource to improve the strategy.
Any One Else?, have a GR8 Day
