MajorDutch
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as 2011 draws to a close has anyone got any new year's resolutions that they are going to apply their trading in the new year. the xmas period is a great time to reflect on what happened in the past year and make some changes, then come February we can pi55 it all up the wall and go back to our old habits!
I will start off. I have had a few weeks off trading/work/everything out of the UK. The one thing I want to do in 2012 with my trading is simplify, simplify, simplify.
To do this I am going to ditch all use of the following:
1. Trendlines (unless they are horizontal )
2. Fib retracements
3. Patterns such as Channels/Wedges/Flags
Before anyone gets upset the reason I am ditching them is not that they don't work it's because there are too many good opportunities available without them.
I am just going to use key levels of previous S/R, previous price flip zones and round numbers coupled with pin bars/outside bars (which alone mean nothing) as triggers.
I hope T2W continues to provide entertainment in between trades!
Happy New Year.
I will start off. I have had a few weeks off trading/work/everything out of the UK. The one thing I want to do in 2012 with my trading is simplify, simplify, simplify.
To do this I am going to ditch all use of the following:
1. Trendlines (unless they are horizontal )
2. Fib retracements
3. Patterns such as Channels/Wedges/Flags
Before anyone gets upset the reason I am ditching them is not that they don't work it's because there are too many good opportunities available without them.
I am just going to use key levels of previous S/R, previous price flip zones and round numbers coupled with pin bars/outside bars (which alone mean nothing) as triggers.
I hope T2W continues to provide entertainment in between trades!
Happy New Year.