How to define market trend ? - page 2
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Thanks for the daily method but I am actually looking trading for living
and that is why I would like to use 15 minute and 1 hour time frame for trading.
Please post any thing that works in lower time frames.
BEST WISHES,
NEW TRADER
Every timeframe always has its trend. Try above setting in 15 minute or 1 hour time frme frame. Hope it works, God bless!
Can you show me any and I mean any trading method posted in this whole forum that give you a winning ratio of 80% or above ??? BEST WISHES, NEWTRADER
Hi Newtrader1, would you mind me asking a question?
Why do you choose the figure of 80% for your win ratio?
Thanks! Buddly
I am trying to make a trading system but so far not much success.My system is very simple::Stochastic : 14 3 3 When stochastic cross 80 and falls down then open sell.When stochastic cross 20 and moves up then open buy.Time frame is 15M.So far lots of lossing trades.I think If I trade with trend and skip trades against trend then I will get more winning signals.I tried to use 200 EMA but did not worked well.Example: If market is above 200 EMA only take buy trades and If market is below 200 EMA only take sell tradesThe main problem is that I do not know how to define the market trend correctly.Can some one help me in this regard?BEST WISHES,-NEWTRADER
Easiest thing to do is just use a trend line.
Draw the trend line from the candle on the far left to the candle on the far right and whatever way the line slopes is the overall trend.
If this trend line is broken often, this is not a good trending pair.
200 Simple Moving Average is good too.
Can you show me any and I mean any trading method postedin this whole forum that give you a winning ratio of 80% or above ???BEST WISHES,NEWTRADER
You do not need to win anywhere near that percentage.
99% of people that contact you saying they do will be BSing you.
u need color stochastic and an ma
color stochastic would alert u, but using ma as ur entry signal
I think you better combine your stochastics with moving average of 30 or 50 period. This may eliminate some of your false signals. 200 period MA won't match with this system I guess...
I would suggest you check your setup combining with EMA50...Like, go long only when stochastic crosses above oversold line (20) and candlesticks are above EMA50...
First backtest this setup and find your accuracy...I mean winning %. In this case you have to try several R:R techniques...Try this setup in 1 hour or 4hour with R:R=1:3
I can't guarantee it would work but it would filter your entries and would keep your trades with the trend...
Up trend: If price is printing higher highs and higher lows
Down trend: If price is printing lower highs and lower lows
Market trend has to do with the tendency of a financial market to move in a particular direction. It can either move upward [bullish] or downward [bearish]. These trends can vary in length either longterm or shortterm basis.Market trend are constantly changing and normally occur and reverse within a shorter time or longer time frame.
you guys make trade a lot harder...