Geofract
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The most useful discussion I found was regarding clean charts vs messy charts, courtesy of Newtron Bomb (AKA Phil Newton). Theory is that you avoid the messy charts, I guess cause they are too chaotic to be viable.
As for volatility, are you sure that's what you want? Have you backtested your system to prove it needs volatility? My strategy suffers under extreme volatility, because in volatile times there can be multiple false signals.
As for identify those starting to trend... I find 123 patterns can be very useful, to find the start, but you have to filter the pattern, which is the tricky bit, and takes a lot research.
HTH
Pipsaholic
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find a good currency strength indicator and cross it over the strongest against the weakest watch the spread rate.
Rhody Trader
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Don't forget to factor in spreads to your consideration, especially if your system is an active one. If it's not that active then no big deal.
marla23
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DonCardEst
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i just look for charts of different pairs on different time-frames - until i find "good opportunity" Besides i check economic calendars - i prefer to trade on calm market.
NVP
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DonCardEst
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DonCardEst
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I repeat my opinion: Indicator (or EA ) - must be SIMPLE - i never use "ichimoku" - just MA and Support&Resistance levels - and i must say - its not bad
itmtrading
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Great post nice comment for other thanks for all
samtullett
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People have preferences for one reason or another, when you trade regularly you begin to get a feel for what you like and what you don't like. Which ever pair you choose, it has to have good liquidity, a good spread and currency pairs are most active relative to when news reports and currency is swapped from one country to another, make sure these time zones fit in to your lifestyle. These points are pretty broad but just some things to take into account.
Good luck!
Good luck!
NVP gave you a clue, but thats not the whole story. If you pick a pair because of the spread, or the daily range etc then you are already making things much harder for yourself. Remember a pair consists of 2 currencies, each can be affected by fundimentals which we are seeing a lot of lately. Something like a relative strength indicator can help you to know if the trend (or otherwise) you see on the pair you picked is really representative of the relative strengths of its constituant currencies.
And at the end of the day its that relative strength/weakness (in terms of the bigger picture) of the constituant currencies that you want to have on your side. At the very least it will give you a more valuable directional bias than you would get from any moving average.
And at the end of the day its that relative strength/weakness (in terms of the bigger picture) of the constituant currencies that you want to have on your side. At the very least it will give you a more valuable directional bias than you would get from any moving average.
rathcoole_exile
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ichimoku IS very simple.
once you learn how to read it, it does exactly what it's Japanese name suggests - Equilibrium at a Glance.
you can look at a chart with ichimoku and see in one second if there is a trend, consolidation or whatever
