100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 94
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Do you find that on quiet news days the trend stays fairly predictable, price just varying according to banks buying/selling
I prefer trading on quiet news days. This way the higher time frame plays a bigger role in influencing price. But again you need to know when a market has just finished from a trend and now price is consolidating or ranging and when it's about to move again.
I prefer trading on quiet news days. This way the higher time frame plays a bigger role in influencing price. But again you need to know when a market has just finished from a trend and now price is consolidating or ranging and when it's about to move again.
Hi Olives,
I've come accross the zigzag indi before and it certainly can repaint. That's why I think Joe's idea of trading on a change in MACD seems a good idea; at least then it's heading in the desired direction.
Cheers,
Mike
Hi Olives,
I've come accross the zigzag indi before and it certainly can repaint. That's why I think Joe's idea of trading on a change in MACD seems a good idea; at least then it's heading in the desired direction.
Cheers,
MikePrice can still reverse on you. MACD can show it's travelling in a certain direction and a few candles later it will carry in the previous direction. That's why other filters are required.
Filters
Price can still reverse on you. MACD can show it's travelling in a certain direction and a few candles later it will carry in the previous direction. That's why other filters are required.
Which other filters do you use?
Mike
The best filter is the higher time frame. Volume is also a good way to see whether a trend has become exhausted or just picking up. It's one of the least used and underestimated tools available to average joe traders like us.
If then market is trending then you won't see the 3 appear until the trend has run it's course. On some zig zag indicators you will see zig zags during retracements. Experienced traders can trade the retracement and/or use it to trail their stops/add to the trade.
EDIT - wanted to add that you need to know whether price is ranging/trending that is one of the key things you need to know before you trade. If price is trending it may stall at S/R levels but eventually break through. Ranging markets are more likely to range between S/R levels.
higher timeframe CAN be a good filter, but not necesarily always so.
Overtrading is one of the main causes traders end up giving pips back to the market. I have relatively few trades a week and only when they meet all the correct criteria. If it means standing aside then so be it. No pips is better than losing pips when you're trading live.
i've been guilty of over-trading so often. need to keep a check!
higher timeframe CAN be a good filter, but not necesarily always so.
Nothing is 100%. Of course there is no always in trading or any business. If that was the case we would be making millions.
As I mentioned before up moves on the 1 hour chart maybe retracements in a down move on the daily. Some traders trade them. With experience this is profitable. If the daily is ranging, each leg of the range may appear as a trend on lower timeframes. If you trade with the higher time frames the moves will be much stronger. That said, you also need to know when the higher time frame is through with its move and price corrects.
Anyway it depends on your individual style of trading. You should do whatever works for you. If you're a 20 pip a day type you'll scalp 20 pips where you see a good trade and not really be concerned with the overall picture.
Bottom line is nothing is for sure, but even if you're right 60% of the time with good money management you'll be profitable.
i've been guilty of over-trading so often. need to keep a check!
Yeah we've all been there mate!