How to identify a trend where to take profit?
Hello!I am a beginner at FOREX. I know that almost everybody teaches to trade by trend. So can anybody explain me how to determine the beginning of the trend and when it is over to take profit without mistakes?
I advise you to read the theory of Charles Dow in the book Murphy, John - Technical Analysis of the Finacial Markets
“The trend is the tendency in the price movement when each of the next maximums is higher (lower) than the previous one (the same relates to the minimums)
I advise you to read the theory of Charles Dow in the book Murphy, John - Technical Analysis of the Finacial Markets“The trend is the tendency in the price movement when each of the next maximums is higher (lower) than the previous one (the same relates to the minimums)
Everything that was written 50 years ago in not actual any more
Charles Dow’s trend definition has become out of date. That is why the most part of traders lose their deposits. Trying to use this old conception I have lost a lot of money
Here is the new conception of trend in the book and system of Masterforex-v, which was found by pure accident and use it very successfully!!!
Everything that was written 50 years ago in not actual any moreCharles Dow’s trend definition has become out of date. That is why the most part of traders lose their deposits. Trying to use this old conception I have lost a lot of money Here is the new conception of trend in the book and system of Masterforex-v, which was found by pure accident and use it very successfully!!!/go?link=https://www.risecapfx.com/.
Thank you for the link and very interesting book of Masterforex-v!
Masterforex-v has criticized severely the Charles Dow’s conception and his following very correctly!
John J. Murphy Technical analysis of futures markets: theory and practice
D. Schwager in his manual Technical analysis. Full course
Elder. How to gamble and win at the stock exchange
Luka. Application of technical analysis at the world currency market)
Reading this book I’m beginning to agree with the author
Thank you and my respect to you!
Just take a look. If use the Charles Dow’s conception and his following, so every beginner can see that every maximum is higher (lower) than the previous one.
Here's my old picture
Just take a look. If use the Charles Dow’s conception and his following, so every beginner can see that every maximum is higher (lower) than the previous one.
Excuse me for my interrupting you, but I did not understand at what time chart do we have to search the trends and take profit? Is it at the Daily, Weekly or H1 (H4) charts? Or may be we are to use some minor timeframes?
Support and resistance lines are the best so far to identify new trend and its direction. When price breaks out through the lines, it is likely that a new trend is born. You can draw S/R lines manually, and you can even have ones drawn automatically by Super S/R indicator (download from Indicators forum).
There're many ways to profitable exits. One is to exit after x hours/mins. Another is a take profit order of x pips. Ideally you'd want to exit right when the price is reversing. Look for a new trend that could go against your position and close it right away.
Excuse me for my interrupting you, but I did not understand at what time chart do we have to search the trends and take profit? Is it at the Daily, Weekly or H1 (H4) charts? Or may be we are to use some minor timeframes?
According to the books Luka. Application of technical analysis at the world currency market
John J. Murphy Technical analysis of futures markets: theory and practice
D. Schwager in his manual Technical analysis
you must trade using only big trends such as Daily.
According to the books Luka. Application of technical analysis at the world currency marketJohn J. Murphy Technical analysis of futures markets: theory and practice D. Schwager in his manual Technical analysis you must trade using only big trends such as Daily.
Again the same!
When you use the big time charts, you lose much more. There was a time when I studied to trade according to these books and I wrote before about my results!
Using big time charts you can see the trend reversal only in 300-400 pips… If it is OK for you to lose $3000-4000, of cause you can trade according to the systems of classical scholars - Luka,John J., D. Schwager
When I began to use the system of Masterforex-v, the first - I stopped lose my money and the second – I began to get profit.
Again the same! When you use the big time charts, you lose much more. There was a time when I studied to trade according to these books and I wrote before about my results! Using big time charts you can see the trend reversal only in 300-400 pips… If it is OK for you to lose $3000-4000, of cause you can trade according to the systems of classical scholars - Luka,John J., D. Schwager When I began to use the system of Masterforex-v, the first - I stopped lose my money and the second – I began to get profit. /go?link=https://www.risecapfx.com/
And what is the secret of the trading system of Masterforex-v? Does he teach you to work at the minor timeframes?
Support and resistance lines are the best so far to identify new trend and its direction. When price breaks out through the lines, it is likely that a new trend is born. You can draw S/R lines manually, and you can even have ones drawn automatically by Super S/R indicator (download from Indicators forum). There're many ways to profitable exits. One is to exit after x hours/mins. Another is a take profit order of x pips. Ideally you'd want to exit right when the price is reversing. Look for a new trend that could go against your position and close it right away.
Your thought are very good
I also agree with you that support and resistance levels has certain power. And their false or true brakouts can show any trend. Also I liked about exits
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Hello!
I am a beginner at FOREX. I know that almost everybody teaches to trade by trend. So can anybody explain me how to determine the beginning of the trend and when it is over to take profit without mistakes?