be-positive
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Goodmorning Bonsia,
This novice thinks that the cost of your new
will be well covered by your successful trading :cheesy:
This novice thinks that the cost of your new
be-positive
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This novice thinks we are on the turn :arrowu:
Fluke
What is wrong with using the market's support/resistance levels?
The problem with fibs is that sometimes they work and sometimes they dont!. Methinks you complicate things. KISS is a very good approach. I quoted two previous lows 4043 and 4032. The market has previously reacted to these levels. It has signalled it view. So far, the 4043 level appears to be holdin. But I stress so far!
What is wrong with using the market's support/resistance levels?
The problem with fibs is that sometimes they work and sometimes they dont!. Methinks you complicate things. KISS is a very good approach. I quoted two previous lows 4043 and 4032. The market has previously reacted to these levels. It has signalled it view. So far, the 4043 level appears to be holdin. But I stress so far!
mully
you do have a good point.
there is almost definitely a fraction for every occasion
and every level and you cant chase them all.
same with indicators. They all point to something different as well.
and moving averages.
the fun thing is, the 'market' doesnt know any of them exist !
it seems to me that as long as you consistently use the one
philosophy you are defining and limiting your participation in the
market and that's all.
and that's wise, imo.
you do have a good point.
there is almost definitely a fraction for every occasion
and every level and you cant chase them all.
same with indicators. They all point to something different as well.
and moving averages.
the fun thing is, the 'market' doesnt know any of them exist !
it seems to me that as long as you consistently use the one
philosophy you are defining and limiting your participation in the
market and that's all.
and that's wise, imo.
Bonsai
I think your comment "the market' doesnt know any of them exist" is SO SO important and a reminder to all traders not to place too great a reliance on "man-made" indicators. They say you do not trade markets, you really trade your beliefs.
That why I am so cautious about such methodology as EW. It may be a very strong personal belief, but please do not impose on a market that has no ability to hod any belief. It just is.
I think your comment "the market' doesnt know any of them exist" is SO SO important and a reminder to all traders not to place too great a reliance on "man-made" indicators. They say you do not trade markets, you really trade your beliefs.
That why I am so cautious about such methodology as EW. It may be a very strong personal belief, but please do not impose on a market that has no ability to hod any belief. It just is.
hungrybear
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Back now - looks like the Ftse behaved as anticipated - shame I closed the short, but with a gap to fill it seemed risky to leave it open. I think we're into the C-wave down, so the medium term trend should now be down.
jonnyt
both is the best answer plus bounces off zero from either
above or below.
but its a bit more complicated than that in my system
because I use other things as well like trend lines and fibs
so I am not always trading macd.
but it stands pretty well on its own. Just be aware that because
its a short term indicator there can be whipsaws
both is the best answer plus bounces off zero from either
above or below.
but its a bit more complicated than that in my system
because I use other things as well like trend lines and fibs
so I am not always trading macd.
but it stands pretty well on its own. Just be aware that because
its a short term indicator there can be whipsaws