An indicator is precisely what the termimplies: an indication changes to trend, price patterns, volume, etc. Indicators arenot precision tools however and must be used with judgment and consideration ofwhat is going on elsewhere in the market. In order to create an indicator, the writer must use at least 2 pieces of marketdata. Since all data is recorded, applying the formula to the data is simple andprovides an accurate line or histogram for more sophisticated analysis of the data.
A moving average for instance, smooths PRICe with TIMe to create a linetrend indicator that is much smoother than pure price action and tells the chartistwhether or not the trend is still intact. Setting up your indicator tool kit For the best chart analysis, use a group of indicators based on your trading styleand the current Market Condition. Common indicator types include: 1. Trend, direction of trend, and strength of trend indicators.
Accumulation and Distribution indicators which expose the buying and selling habits of large lot institutional investors and institutional traders. Convergences and divergences of price or volume, indicating a change of trend direction. Addtional Considerations Traders and investors need to use the appropriate indicators and not assume apopular indicator will work for their trading or investing goals. Never use just oneindicator for your analysis. Try to include at least 3 and preferably 5.
Be sure that if you are trading short term that you use leading indicators ratherthan lagging indicators. Leading indicators use all 3 pieces of data or are a combinationindicator that uses all 3 data streams in the analysis. In contrast, Moving Averages,by their very nature, are lagging indicators and are best suited for longer termanalysis. There are 6 primary Market Conditions. As an example: during a platform market,Bollinger Bands, RSI combination indicator, and volume Accumulation with PriceAccumulation indicators are ideal.
Trending indicators fail dismally. Be sure you understand which indicator works for each market condition anduse the appropriate indicators as market conditions change. It performs poorly in platform market conditions. Stochastic works best in tradingrange markets but fails during velocity trending markets because it signals an exitjust as a stock starts a velocity run.
Secrets of Winning Forex Strategies: How to Spot Trends and Profitable Trades - Kindle edition by Nicholas Tan. Download it once and read it on your Kindle. Secrets of Winning Forex Strategies: How to Spot Trends and Profitable Trades is written for new currency traders to help them to identify trends and patterns.
As the market shifts from one condition to thenext, change the indicators you are using so that your analysis is correct. Summary: Chart analysis is a necessary skill for anyone who has money in thefinancial markets. Charts provide a graphical view of what has happened in the past,near past, as well as current activity. This information helps traders and investorsanticipate what will happen next.
Martha Stokes When you first learn to use a chart, start with the basic layout and learn itthoroughly before trying to learn the more advanced features of a charting program. As you become more proficient with chart analysis make sure you customize itto suit your trading style, parameters, and goals. Remember, no one can predict the markets. Good chartists study the historicaldata as well as the current data, identify the most common reoccurring patterns, andthen act on those consistent patterns, ignoring the atypical patterns.
In that way,their analysis may seem to predict when they are actually going with the flow of thetrend. Martha Stokes, C. She made her first investment while still a teen. In her late thirties, when most people are just gettingtheir careers established, she took an early retirement. Martha considers teaching as a way to enjoy herretirement while giving something back. Her infectious energy and vast body of knowledge in economicsand financial markets, along with her innate ability to identify newly emerging technology has establishedher as a market authority.
Her theory on Cycle evolution is a landmark work on financial cycles. Shehas been involved in several startups and has sat on both sides of the venture Capital negotiating table,worked on an IPo, managed a small fund, taught at community colleges, and has been a guest speakerat numerous seminars and investment groups including the Boeing employees Investment Group. Her long list of educational work include: 15 stockand option courses, 14 semester length Lab Classes, her Annual New Technology Reports, Sector andIndustry, and Special edition Reports, hundreds of articles, resource papers, and white papers.
Marthawrites 6 newsletters each week and still finds time to answer student questions. They are older than point and figure and bar charts. Amazingly, candlestick charting techniques, used for generations in the Far east, wereunknown to the West until I revealed them in my first book Japanese CandlestickCharting Techniques back in B. C Before Candles. Candle charts are over 1, years old and as such are older than Westernbar charts and point and figure charts.
Yet, amazingly, these charts were unknownto the Western world until recently. Candle trading techniques have now becomeone of the most discussed forms of technical analysis around the world. Almostevery technical analysis software package and Internet charting service now hascandle charts. This attests to their popularity and usefulness. This article is a very basic introduction to candle charting techniques. Buteven with the primary candle signals discussed, you will discover how candlesopen avenues of analysis not available anywhere else. My goal here is to provide asense of the potential that the candles can offer.
What are the Benefits of Candle Charts? Candle charts are easy to understand: Anyone, from the first-time chartistto the seasoned professional can easily harness the power of candle charts. Thisis because, as will be shown later, the same data that is required to draw thecandlestick chart is the same as that needed for the bar chart the high, low, open,and close. Candlestick charting tools will give you a jump on the competition: Candlecharts not only show the trend of the move, as does a bar chart, but unlike barcharts, candle charts also show the force underpinning the move.
In addition, manyof the candle signals are given in a few sessions, rather than the weeks often neededfor a bar chart signal. Thus, candle charts will help you enter and exit the marketwith better timing.
Steve Nison, CMT Candlestick charting tools will help preserve capital: In this volatileenvironment, capital preservation is just as important as capital accumulation. Youwill discover that the candles shine in helping you preserve capital since they oftensend out indications that a new high or low may not be sustained. Candle charting techniques are easily joined with Westerncharting tools: Because candle charts use the same data as a bar chart, it meansthat any of the technical analyses used with bar charts such as moving averages,trend lines, retracements, Bollinger Bands, etc.
However, candle charts can send signals not available with bar charts.
Candlestick charts can be used in stocks, futures, and any market that has anopen, high, low, and close. And they can be used in all time frames—from intradayto weekly. If the close of the session is above the open, then the real body is white. If the real body is black, the close of the session is lower than the open.
The thin lines above and below the real body are the shadows. The shadow above the real body is called the upper shadow and the peak of the upper shadow is the high of the session. Candle lines can be drawn for all time frames, from intraday to monthlycharts. For example, a minute candle line uses the open, high, low and close ofthat minute period; for a daily chart it would be the open, high, low and closefor the day.
Notice that the candles to the right in exhibit 1 have no real bodies. These areexamples of doji pronounced doe-gee. A doji is a candle in which the opening andclose are the same. Doji represent a market that is in balance between the forcesof supply and demand.
We will look more at the doji in one of the chart examplesbelow. While the candlestick line uses the same data as a bar chart, the color of the20 For instance, when the real body is black, that means the stock closed below its opening price. This gives you an instant picture of a positive or negative close. Those of us who stare at charts for hours at a time find candlesticks are not only easy on the eyes, they convey strong visual signals sometimes missed on Exhibit 2 bar charts. For example,a small real body white or black indicates a period in which the bulls and bearsare more in a tug of war.
In this scenario Iwill illustrate how a candle chart can help you avoid a potentially losing trade fromthe long side. I have two charts below. The left chart exhibit 3 is a bar chart. It looks like a stock to buy. Using the same data as on the bar chart, we now make a candle chart exhibit4. Note the different perspective we get with the candle chart than with the barchart. As such, while the bar chart makes it look attractive to buy, the candle chartshows there is indeed a reason for caution about going long — the small real bodiesillustrate the bulls are losing force. Thus, by using the candle chart, a trader would 21 This is but one example of how candles can help you preservecapital.
Candles shine at helping you preserve capital. Doji As the real body shrinks we ultimately wind up with a doji. As shown on theright side of exhibit 1, a doji is when the open and close are the same.
Thanks man But I thought u are going to send it in a pdf format so we can read it over again as much as we want. Thank a lot Mr Nial Fundamentals willnever tell when to buy or sell a stock. The trend had been established and momentum was in force. The first one to jump in was Soros who is legendary for his skills of shorting different currencies with high leverages and worldwide consequences. All trends are historical, none are in the present.
The doji indicates a market in complete balance between supply and demand. Since a doji session represents a market at a juncture of indecision, they can oftenbe an early warning that a preceding rally could be losing steam.
Properly used, candle charts may not only help improve profits, but will assistin preserving capital. They can do this by helping you avoid a potential losing tradeor exiting a profitable trade early. The horizontal line in exhibit 5shows a resistance area near A tall white candle pierces this resistance inearly March. But observe what unfolded the next session — the doji. This doji linehinted the bulls had lost full control of the market note: it does not mean that thebears have taken control.
This is a classic example of the power of candle chartingtechniques. Specifically, within one session we were able to see a visual clue via thedoji that while the market was maintaining its highs, the doji shouted that the bullswere not in complete control. So while the market looked healthy from the outside,the internals as shown by the doji were relaying the fact that this stock was not ashealthy as one would think.
So called because the market is trying to hammer outa base. The criteria for the hammer are The real body is at the upper end of the trading range. The color of the real body can be black or white. A bullish long lower shadow that is at least twice the height of the real body.
It should have no, or a very short, upper shadow. From my experience,most times when there is a hammer the market may not immediately move up, butmay rally slightly, or trade laterally, and then, after expanding on a base, then rally. If the market closes under the lows of the hammer, longs should be reconsidered. Candle charts can be used in all time frames — from intra-day, day to weekly.
In the intra-day chart exhibit 7 , there are two back-to-back hammers denotedby the arrow. These dual hammers took on extra significance since they confirmed a support level shown by the dashed line. This is a classic example of the power and the ease with which one can combine the insights of candle charts the hammers with classic western trading signals the support line to increase the likelihood of a market turn. This synergy of candle charts and western technical tools should provide a powerful weapon in your trading arsenal.
Exhibit 7 23 A bearish engulfing pattern shown on the right in exhibit 8 isformed when, during a rally a black realbody wraps around a white real body. Abullish engulfing pattern on the right inexhibit 8 is completed when, during adescent, a white real body envelopes theprior black real body. The engulfing pattern is illustrativeof how the candles can help provide Exhibit 8greater understanding into the behaviorof the markets. For example, a bullishengulfing pattern reflects how the bullshave wrested control of the market fromthe bears.
A bearish engulfing patternshows how a superior force of supply hasoverwhelmed the bulls. This bullish engulfingpattern was especially potent becauseit reinforced a support area set by a hammer. Candles and the Overall Picture Remember a basic principle: candle charting techniques are a tool and not asystem. By understanding, andusing, these trading principles, you will be in a position to most fully enhance thepower of the candles.
There are many morepatterns, concepts, and trading techniques that must first be considered. But evenwith these basic concepts, you can see how the candles open new and unique doorsof analysis. May the candles light your path to profits! Steve Nison, CMT, was the first to reveal candlestick charts to the Western world and is theacknowledged leading authority on the topic. In addition he has over 30 years experience withWestern indicators so his trading strategies combines the best of the east and West.
CoM which provides educational products services to institutionsand private traders. To learn how to spot theearly market reversals and to sign up for his free trading videos visit www. Barbara Star, Ph. Catch that Trend! T raders usually favor moving averages to help them determine price trend. The MACD, created by Gerald Appel, is a momentum indicator that oftenidentifies price direction as it rises and falls above or below its trigger line and itszero line. ADX values in the20 to 30 range indicate mild to moderate trending behavior while values above 30usually signify a strong trend.
A rising ADX indicates that prices are trending, butdoes not reveal the direction of that trend. Plot the ADX 14 period indicator above the MACD on the same price chartas shown in Figure 1, and patterns emerge that show both trend strength and trenddirection. Figure 1 The ADX indicator rises when it detects a growing trend, but does not indicate the direction of the trend.
Add the MACD however, and the trend direction becomes easier to see. These patternsdo not detect tops and bottoms, but can help traders confirm a trend. They areespecially useful for those traders who prefer shorter-term trades. When the indicators rise togetherthey identify up-trending price movement that presents bullish traders with anopportunity to enter the long side of the trade. The strongest and most idealtrading configuration takes place when the ADX begins to rise and the MACDrises above its trigger line and also above its zero line.
The level from whichthe ADX rises does not matter. The Confirming pattern was evident on the daily Allegheny Technology pricechart. The indicators declined in late June to reflect thefalling to sideways price action. An up trend is in progress when both indicators rise together. Diverging Pattern: The diverging pattern identifies down-trending pricemovement. Here, the indicators move in opposite directions. The ADX rises toindicate that it has found a trend, but the MACD declines which indicates that thedirection of the developing trend is down.
Its mirror-image formation makes it aneasy pattern to spot visually. This is a good pattern to follow for traders who are bearish and want to shorta stock. It also serves to warn those traders who might wish to enter a long positionthat they should wait for a more favorable time. Two distinct Diverging patternsappeared on the chart of Abbott Labs in Figure 3 as prices took a nosedive fromFebruary to March and again in April. Converging Pattern: This pattern has an upward bias that comes after a steepdecline. The ADX rolls over and begins to decline, signifying that the strength ofthe trend has weakened.
At the same time the MACD, which had been below itszero line, begins heading up to its zero line. Although this patternsometimes marks the beginning of a new up trend, more often than not it is acountertrend rally that produces a partial retracement of the price decline. Figure 4 shows the Converging pattern on a daily chart of HoneywellInternational. The MACD responded to the increase in price by crossingabove its trigger line and rising to and in this case, through its zero line as the Figure 4 The converging pattern occurs after a decline.
This is an enticing pattern, but often not as profitable as the others because itsmoves tend to be short-lived and, even though the MACD rises, prices may movesideways instead of upward. Area A marked a decline with a Diverging pattern that was followed by aConverging pattern as price rose in area B. That Converging pattern gave way to aConfirming pattern Area C as price continued to rally another ten points.
A newConfirming pattern appeared in Area D which reflected the decline that filled aprior price gap before reversing to the upside. Figure 5 Many trading opportunities pre- sented themselves during a four month period as all three patterns appeared at various times on the C H Robinson Worldwide price char Summary The patterns displayed by the ADX and MACD combination appear on chartsof commodities, indexes, and mutual funds as well as stocks. Not only do thepatterns have profit potential, they signal changes in price which can help avoidtrading pitfalls.
This dynamic duo may be worth adding to your trading arsenal. She is a frequent contributor to the magazine, Technical Analysis of Stocks and Commodities. A former university professor, Dr. Star currently provides individual instruction and consultation tothose interested in learning technical analysis. Her e-mail address is star aol.
This type of perceptual awareness is a seemingly unconscious capacity forinsight, intuition or knowledge — or is it? Traders — like their mothers — can also exhibit a predisposition to perceptualawareness. It is important to note that avolatility shift is not necessarily a change in the direction of a trend, but in thespeed and distance of the trend. In reality, recognizing a shift in volatility does not need to be a supernaturalfeeling or intuition.
In fact, volatility shifts fit into one of nine patterns easilyrecognizable on the chart. In this article you will see how to measure average volatility on a price chartand identify the nine volatility shift patterns that tell you whether volatility isincreasing or decreasing. How to measure average volatility from a price chart A volatility shift is a change in the average price movement over time. Thereare two variables you need to establish before you can measure volatility shift: theaverage price cycle and the average time cycle.
The ATR can be used to give you anapproximation of the magnitude distance between the high and low of each baron a price chart. For example, if the range for each price bar for the last threeperiods is 1. The average price cycle measures the same thing — only instead of measuring theprice bar it measures the price cycle distance between short term pivot lows andpivot highs. To calculate the average price cycle you must first measure the last severalprice cycles. A price cycle is easily measured by subtracting the last pivot from theprevious pivot as shown in the diagram below The time cycle can be easily calculated by counting the number of barsrequired to complete one price cycle.
Shawn Lucas once you have calculated the average price cycle APC and the average time cycle ATC , you can begin to set up a model for calculating volatility shift. There are 9 different volatility shift patterns: 1 pattern for normal volatility, 4 patterns for increasing volatility and 4 patterns for decreasing volatility. Normal volatility is the condition where the current price and time cycle is equal to the APC and ATC respectively, as shown in the diagram below: If the volatility is increasing it is called a positive volatility shift. A negative volatility shift occurs when there is a decrease in volatility.
Recognizing Shifts in Volitility are four conditions where volatility is decreasing. You can imagine how challenging it can be when you prepare for a normal market condition and get a volatility shift. It can be a major source of frustration to traders who are not accustomed to changing market conditions.
By comparing the average price and time cycles to the current cycle you can actually see volatility shifts as they happen on the price chart and be prepared for any inclement change. Shawn Lucas Shawn T. Lucas is a leading expert in the field of technical and economic analysis of the financialmarkets. He has traveled extensively throughout the United States, Canada, and Asia providinglectures, training, consulting and expert testimony to companies and individuals on the art and scienceof financial analysis. For more information go to: www. T echnical analysis indicators are generally designed to answer one or more of these questions.
The answers help us to select better trading opportunities, and to trade them in the correct way. It is no good trading a rally as amajor trend change. It calls for different techniques, and we need a method todecide when the rally has ended and the downtrend resumed. I use a Guppy Multiple Moving Average to help make these initial decisions. The Guppy MMA relies on understandingthe fractal repetition of relationships across multiple time frames.
It helps us tounderstand the behavior of the two most important groups in the market — tradersand investors.
When traders use two or more moving averages, their attention is usuallyfocused on the point of the crossover. This is a distraction from the more importantmessages contained in moving average relationships. The Guppy MMA uses themoving averages to track the activity of traders and investors, and to understandthe difference between price and value. We make this decision based on ourfuture expectations. Price is what we pay to buy the stock today. When everybodyagrees on price and value there is no market.
You can walk to the nearest Wal-Martand see agreement on price and value in action. It is not very exciting and not veryprofitable if we want to buy an item and later sell it at a profit.
The financial market is driven by the difference between price and value. Theybuy because they believe they can make a profit on the difference between thecurrent price and the future value. When we expand this concept to the broadermarket we observe periods where there is relative agreement on value and price. The market moves sideways. At other times there is a wide disagreement on priceand value so the market moves quickly.
Daryl Guppy Traders make these decisions more rapidly than investors. Traders are alwaysprobing to see if current price is good value. Traders lead the market. Traders cannot maintain their momentum unless investors follow, and theGuppy MMA highlights these relationships. These are 3, 5, 10, 12 and dayexponential moving averages. When these averages compress, they tell us thatshort-term traders are in agreement on price and value. Inevitably a few traderssee an opportunity to make a dollar because they believe the market is incorrectlyvalued. They start buying. To get stock they have to outbid their competitors.
Thiscauses a separation, or spreading in the short-term group of averages. At its widest, this separation tells us that value has moved well away fromprice. You probably know the feeling. Desperate to buy a stock that is movingexactly as you anticipated, you end up chasing it to the top price of the day. Nextmorning you realize you have paid much more than you should have.
When you,and other traders reach this conclusion, the selling starts, and the wide spread inthe short-term group rapidly collapses. Compression is followed by expansion andfollowed again by compression. Agreement on value is followed by disagreementabout value, and then followed by agreement about value. Investors show the same relationships, and these are captured with the longterm group of averages. These are 30, 35, 40, 45, 50 and 60 day exponentialmoving averages. The compression and expansion does not develop as quickly aswith the short term group but the same behaviors are repeated on a longer timeframe.
When the long term group of averages spreads out it tells us that the trendis well supported. Combine these two groups into a single display and we create a Guppy MMA. This is available as a standard MetaStock template in the template menu list. There are four areas of importance in applying this indicator.
The compression and expansion relationships in the short-term group of averages. The compression and expansion relationship in the long-term group of averages. The relationship and degree of separation between the short-term group and the long-term group. The crossover area and the nature of this crossover.
The accompanying chart shows how we use the Guppy MMA to identify themost appropriate trading opportunity. We start with the first trading question: Is36 Understanding the Crowd this a short-lived rally or a trend? Prices break above the downtrend line in area A on the bar chart. We confirm the probability of a rally by using the Guppy MMA. The short-term group has compressed, but when the rally starts the long-term group is more widely spread. For this rally to succeed the traders have to convince the investors that this stock has a good future.
We know this is more likely when the long- term group compresses and turns upwards. It would be unusual for traders to rapidly turn around investor sentiment when the long-term group is well spread apart. We might not be comfortable trading the rally, but we are interested in the developing potential for atrend change. Prices rebound from the trend line and by the time they get to 77, we areinterested. The relationship between the two groups of moving averages, shown inarea B1, is now quite different.
There is no holding the traders back. This groupof averages is moving sharply upwards with no sign of faltering. There is a smoothexpansion in this group suggesting steady buying support. The investors are also taking notice of the latest price moves. The long-termgroup has remained compressed — agreeing on value — since the first rally. Nowthey compress further before also moving sharply upwards and expanding.
Thisgroup contains a day and a day moving average, and we would expect theseto lag behind price action if we were looking just at moving average crossovers. Byunderstanding the developing relationship in this long-term group, traders quicklyidentify the developing investor support. The crossover of the two groups on moving averages is on the upside andconfirms this bullish trend change. However the relationship in area B1 is differentfrom that in area A1, and this difference confirms a trend change.
Relying onmoving average crossovers alone does not give the trader sufficient information tomake good decisions. Daryl Guppy These relationships suggest there is a high probability that this is the startof a new and strong up trend, led by traders and supported by investors.
Plucking up the courage to enter on a price pullback in a rising trend is madeeasy with the Guppy MMA. In area C, the initial trend momentum fails andprices collapse. The reaction of the long-term group of averages tells us this is abuying opportunity. The group is well separated and when prices fall as traderstake profits, the investors step in to buy stock at cheaper than expected prices. Thelong-term group does not compress and continues to move upwards.
Traders who took early profits can buy back into the trend around 88,confident that the underlying trend is intact. It is the relationship between the long-term group of averages thatconfirms the trend strength. This relationship is not revealed if we use just aday and day moving average combination.
Analysis on historical charts always looks good because we already knowwhat has happened in the future. These notes are drawn from my analysis of thisstock in real time. I opened a personal trade in area B and rode the trend using theGuppy MMA to deliver the exit signal. This is my primary tool for understandingthe trend, the probability of a trend change, and the nature of trading opportunity. He has developed several leading technical indicators used bytraders in many markets.
He recognized as a leading expert on Chinamarkets. He is in demand as a speaker in Asia, China, europe and Australia. Guppytraders has officesin Singapore, Beijing and Darwin. They have become popular primarily because they answer a question every investor needs to know: Are prices high or low? What are Bollinger Bands? Bollinger Bands are curves drawn in and around the price structure on a chartthat provide a relative definition of high and low.
Prices near the upper band arehigh prices, while prices near the lower band are low. The base of the bands is a moving average that is descriptive of theintermediate-term trend. This average is known as the middle band, and itsdefault length is 20 periods. The width of the bands is determined by a measureof volatility, called standard deviation. It is so transparent no bull, pardon my word It so useful as a guide in trades. God bless u abundantly!
Thanks and appreciate. Clear essence from trading comes from wisdom from a real trader. I have been trading stocks for five years, many up and downs, looking what can works, and realize it all comes down to the 7 points u mentioned. Hi Rayner, you are one of Singapore up and coming young trader, keep up the good work, hope to meet you in person one day. Most of the charts you have posted are yearly charts, Traders dont hold any stock for years only investors do that. Few things works on just papers not in reality. Go check out Steve from Newtraderu. He trades on the daily charts and holds his trades for days, sometimes weeks.
Or Gary in my facebook group. He trades the daily chart and holds his trades from a few days to weeks as well. You are doing great work here. All you Ave said is true. True that. Good writing for reading and understanding the trading strategy. Really appreciate you are sharing your thoughts and knowledge in trading.
But i need a few recommendation from you, as a retail trader, im looking to plot my trading logs whether profit or loss on monthly basis. In trend trading, how do i define risk reward ratio? What time frame do you think would work the best? In order for me to track my losses or profit monthly basis. Great article. I have learnt a lot. Greatful for your response. Great article and video. There is one very important aspect for most traders including myself is FEAR. Any advice. Thanks for your time and work. Hi You posted Amazing trading aspects.
I have been following similar trade setup. But, on reading this post, i have fine tuned my trading plan. Without any doubts, i have confidence to improve my trading result with your inputs. This is fantastic. You mention that you take profit near the swing high in an uptrend. How exactly do you determine this point? Hi Rayner It is a masterpiece article. Very useful in summarizing the key strategies for a high prob trade. It is helpful. You have a good day Thanks. Hi Rayner, this is dr.
Nice write up bro, but i am trying to focus more on pure Price Action trading especially at Support and Resistance areas only. I dont need lagging indicators except maybe for Moving Averages for now. Is that what you are into also? I applied for your Free book on this same Price Action but i am yet to receive it. Thank you. I trade in a similar manner. Am short of words…HMM. Ur materials are so simple and easy to understand. You are such a blessing to me. God bless you richly and make you great and strong.
You are my mentor. I started following your article and your way of tutorial is so easy to understand and such a big help for me as a newbie. Hope to learn a lot from your trading guide. Thanks for sharing your knowledge. Keep it up. Hi, Rayner sir, really above information that you gave so good. I want more information about swing trading and position trading. Can you provide it by makin video. Thank you for sharing this is very helpfull for me as a newbie. GOD bless you and more success! Thanks for the work and teaching u have done.
Just a quick question that Im trying to get my head around, do you need to enter every trade set-up that comes along or do you enter when you have time? The reason I ask this is that taking a set-up during a range bound market can easily get you stopped out but the next entry could also be the start of a trend. If you had taken every set-up you would be in right at the start of the trend even though you would have your share losses getting there! Does that make sense coming from a Nubbie?
Hi thank you for sharing your knowledge. I learned a lot and it inspired to make my own trading technique to be successful also. Continue to Bless other people. Nice job you are doing SIR, Great Article, so easily graspable looks like newbies like me can also earn profit in the market. Thanks man But I thought u are going to send it in a pdf format so we can read it over again as much as we want. Can you please enlighten me? Thanks so much Boss, the knowledge really help.
And what about this, Is it advisable to be entering trade orders with every pullback the trend is making, so as to have up to 2 or 3 trade orders running on that single pair and trail your stop loss as the trend continues? Thanks so much entering into forex trade one months now every thing looks strange but I believe with time and following someone like u I will be there some day.
Hi Rayner. Thank you so much for everything you are teaching us. I want to add an indicator that can help me see the temporary reversals before the price reach my major support and resistance. Which MA can you recommend to add on my daily chart to determine the trend? Awesome rayner, i have been trading for years now but i have not been able to develop a strategy that works..
Hi, how do you set your scans to for breakouts and deep buys? I mean what parameters do you use? I am currently using Finviz. Where does the line start from? Thanks a lot for your generosity in knowledge. God bless you abundantly both health wise and materially. You have so much material out its unbelievable and its so indepth as well. Thank you for your help in assisting me in becoming a trader. Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.
Hello Irvinn, Thank you for your kind words, I really appreciate it. Such a good article, Rayner. Simply and beautifully explained! Hi Jai, Thank you for your feedback. Thanks Rayner for all your generous input into helping others. Well written and excellent advise. Another awesome text Big thanks appreciated very much enjoy n cheers life goods feel goods. Excellent article — well done Rayner! Hi Jay, Thank you for stopping by. I hope to hear more from you in the near future. Hi Rayner, This article on how to find high probability setups is very useful.
Is it 50, , or something else? Thank you, Regards, Joseph. Hello Joseph, 1 You can click on the chart, and look at the top left hand corner to see the time frame. I never average into losers, only winners. Hey Pauline, Glad you found it useful.