My current strategy - request for your thoughts

Lúidín

Active member
May 31, 2015
818
61
38
#22
Oh really, I'm being rude to someone who described us all on here as know nothing, loser, goats. Now that's being rude .
if he said that then he is rude also..while he may be correct in that most know very little about actual trading..it is best not to call people names..it is bad manners
 
Likes: Jason101
Apr 3, 2017
3,620
136
73
#23
Oh really, I'm being rude to someone who described us all on here as know nothing, loser, goats. Now that's being rude .
Now I never called anybody goats or any names .Why is goats offensive anyway?
I would feel pretty jolly , if someone mucked me as a goat.:):)

I am here to learn from the intelligent traders like yourself ,example about price once rejected on stocks stays rejected , but having this information also creates a conflict in trade execution if market does not repeat this rejection , and creates a new trend instead.
 

NVP

Well-known member
Jun 21, 2004
35,598
1,710
223
fxcorrelator.com
#33
I'd like some thoughts on my system please if you can humour a noobie

Using the 10 min and 5 min charts on the FTSE/DOW (DOW needs more testing and control over leverage)

Look out for a combination of:

Engulfing candle of min 5 points on FTSE and 10 points on DOW
MACD about to cross over
RSI around 60 or 20 region and turning in direction of trade
Stochastic around 70 or 30 and turning in direction of trade

Enter on break of engulfing candle (within 2 candles)
Stop 3 points above engulfing candle (5 on DOW)
Target - length of engulfing candle or if in direction of overall hourly trend or bouncing off a resistance/ support area let it run and move stop to b/e after bar length
are you making money ? :cool:
 

Lúidín

Active member
May 31, 2015
818
61
38
#34
Do you know what is going to happen next ?I don't .I just buy at my my supports system without calling the market.
while S&R can be very important when trading..you just don't buy at support..or just sell at resistance..as you can get caught out many times

grant different markets behave differently..but they all have the same type of people trading them..those who know a good bit about what they are doing..and those who know very little
 
Apr 3, 2017
3,620
136
73
#35
while S&R can be very important when trading..you just don't buy at support..or just sell at resistance..as you can get caught out many times

grant different markets behave differently..but they all have the same type of people trading them..those who know a good bit about what they are doing..and those who know very little
This depends on how you trade them , I got caught 5 times today , but still came out with a profit.