I can understand. A lot of traders don't feel comfy with tick charts and tend to stick to minute charts.
I use a combination of tick and time for each market since I don't like minute charts when markets are slow and dull. I've experimented with Range charts to address this issue too and...
There are so many pairs and it's best to restrict yourself to perhaps 2 or a maximum of 4. Again this could vary according to one's temperament.
I personally follow EURUSD, GBPUSD, USDJPY and USDCAD. You should be deciding what time frame you are going to be focusing upon and go through price...
To answer your question:
1)First you have to be specific. Trend in general is made up of a series of higher highs/lower lows. But then, a trend in one time frame maybe congestion or range bound market in another time frame.
2)So you always identify what time frame you are going to be...
There are different kinds of softwares available for trading.
You can categorize them broadly as follows
a)Charting software to do technical analysis
These days charting software also comes with order placement features
b)Then there's the Dom or Matrix which is basically a moving...
If there's one thing I have learnt related to trading is to have confidence and unshakeable belief in my convictions. After I used to be swayed away by opinions of 'more experienced' traders, I realized that each one is different and we have to have our own mindset, beliefs, methods...
Tick charts smooth out flat areas particularly during low volume periods. For any market I trade, I tend to have both a tick and a time chart for intraday trades. Sometimes I use share bars on my platform(volume).
I see part of what you do is akin to what I do. You want to buy it when...
I use vwap in my intraday trades too and they are very, very useful IN fact VWAPs have become an integral part of my strategies. I also use Anchored Vwaps on higher time frames as well as on hourly charts.
First congratulations for having a profitable trading year.
What's the capital gains tax in UK for short term trading?
If you are going to declare it as a self-employment income, I hope you documented all expenses related to trading so that you can write them off and pay less taxes...
I agree with the waiting time of at least 10 to perhaps 20 or 30 minutes after every profitable or losing trade. Based on my own experience, I have found it to be rewarding to just walk away from my desk once I exit a trade regardless of the result.
Very good answer. It's very important to stay positive and stick to your game plan regardless of what anyone says particularly here in a forum. But we also have to guard against excessive optimism that could lead to what Larry Williams says 'king-kong' feeling that comes with a winning...
Surya. I'm a newbie here too although I've had this account for a while but never posted anything. What USA markets are you focusing on? I focus on futures, options, some stocks, ETFs(for longer term accounts), etc.
Nice to meet you