Which is the best strategy for you ?

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View Poll Results: Which is the best strategy for you ?
Entering after the pullback ( go with the trend either long or short ) 29 50.00%
Trying to pick bottoms and tops ( reversal ) 12 20.69%
Playing breakouts ( breaking critical points ) 17 29.31%
Voters: 58. You may not vote on this poll

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Old Nov 4, 2008, 7:14pm   #15
Joined Oct 2008
There is no best strategy, as it is dependant upon the trader...any strategy (manual, automated, combo, darts, etc) has to flow from the trader and his/her perspective of the markets. Intelligence is highly dependant upon emotions/instinct and it would be almost impossible for a trader to be sucessfuly long-term if their strategy/approach does not mesh their persona. For example...as a theoretical example, you could give me a 100 people who want to trade for a living and I will give them a "system" wins 80% of the time...the probabality is high that only 1 or 2 of them will be able to make a living long term from this why ? Because it is very hard to let go and trust something else...so the would be traders usign the system will start to overide it, change the orders, try to pick better exits/entries, get scared and take profits too early, etc,etc
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Old Nov 4, 2008, 7:34pm   #16
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Originally Posted by foredog View Post
It's all trial and error really, depends how willing you are to give back say a 200 pip profit to try and get another 400........
Very true. Sometimes the momentum of the trade keeps in your favour and it can more than make up for some stopped trades !!

So how's your forex demo trading actually going for you? I'm still working from a small account with Alpari. I need the flexibility of small lots. I wouldnt really know where to start with what stocks to watch!!
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Old Nov 4, 2008, 7:45pm   #17
 
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I've only had the forex account up and running this week so small up but lets call that beginners luck!

i worked in the city for about 8 years so i had a grounding in stocks so i stick to what i know, but i usually have a few stocks i watch and add a few more to the list that are making new highs/lows in the day, basically trying to find the ones that move.

I do like the DIBS method, it's simple and so obvious that you almost feel its too easy to work, some of the time you're taking a hit but mostly your wins should more than make up for your losses.

And

it should really work in any market, Indices, FX, Oil, Gold etc

maybe a few more for the demo account once i'm confident with cable!
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Old Nov 4, 2008, 8:27pm   #18
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Originally Posted by foredog View Post
I've only had the forex account up and running this week so small up but lets call that beginners luck!

i worked in the city for about 8 years so i had a grounding in stocks so i stick to what i know, but i usually have a few stocks i watch and add a few more to the list that are making new highs/lows in the day, basically trying to find the ones that move.

I do like the DIBS method, it's simple and so obvious that you almost feel its too easy to work, some of the time you're taking a hit but mostly your wins should more than make up for your losses.

And

it should really work in any market, Indices, FX, Oil, Gold etc

maybe a few more for the demo account once i'm confident with cable!
Ya its really is simple but good. I havent tried it on other markets but think il try some demo's like yourself. the hardest part by far is exits, and ofcourse not exiting being the main thing! Good pip'n!

Shane
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Old Nov 6, 2008, 12:50pm   #19
 
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I like using price breaks! and patterns but i also using a filter so i dont get caught in head fakes or flase break out. You can use the trend and reveral bars but i guess it comes down to timing! Or having too many indicators
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Old Jan 18, 2009, 8:58pm   #20
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tar started this thread update .....
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Old Jan 19, 2009, 5:29am   #21
 
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i pick bottoms i love the stench on my fingers and under my nails
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