STRTRADA said:
Would this System work on Normal stocks and Shares or Indices?
As Options has said this is a pattern since before the dawn of charting and will work on some markets better than other simply due to range of potential movements.
STRTRADA said:
Would this System work on Normal stocks and Shares or Indices?
Yes it will and if you look at any text book you will see this pattern in one of its many differnt guises, exchange range for consolidation pattern. lots of differntly named patterns with many examples on lots of different markets.
You can trade this or any other pattern on any market or time frame some markets will be better than others as the potential for regular explosive movements will develop on a regular basis.
On Indicies;
exchange Asian session for pre market session on the Mini Dow or S&P.
No pre market session?
Exchange pre market for first 20/30/60 mins of active trading session to id a potential range
On Stocks
Never looked at UK stocks myself so cant help there.
US stocks exchange Asian sessoin for pre market session. or again first 20/30/60 mins of active session to id a potential range.
Range break outs are not the only way to trade neither is it the only way I trade.
STRTRADA said:
...considering the market is so volatile I am not sure if I am ready for Forex...
Money flow = Volitility = movement = profitable trading opportunity
You will find volaitility on all markets
If your worried about volitility you may have chosen the wrong career or certainly the wrong market or trading method.
STRTRADA said:
One other thing is that when you trade where do you put your stop loss on the forex at the moment e.g how many pips away from your entry open?
This is clearly explained on the very first post