thread: Directions please? :what ive been doing

Originally Posted by Happyguy https://www.cliqforex.com/trading-sy...ps-2008-a.html
-stochs- always a fantastic idea to be clued into overbought/oversold.

Stochs are unworthy. Who's to determine if a market is overbought and oversold? Certainly not a ridiculous mathematical formula! In trending markets, price could remain overbought/oversold in accordance with the Stoch for months.

Is it actually possible to earn my 100 pips weekly?

Is this worth it? Im getting kind of fed up and burnt out with forex. Im starting to wonder if its just gambling and imagining. I suppose drawdown will do that. (when I was up 300 percent I was feeling super high).

Thanks kindly for your time and ideas

Yes, it's possible but I don't even revolve around pip account. There are instances where I can actually have a negative pip count for the month but still be profitable (dollar and percentage wise) It's all about your own money / risk management. Everything in life is basically a bet but you simply have to find something which will put the odds in your favor and provide you that edge. And as for indiors, me personally I don't like them and never use them . They lag for my liking but I have made many profitable systems with indiors previously so I'm not saying they can't work since they can. But I simply don't prefer to use them and that I prefer to trade nude. Because it's all part of the game With the draw downs, get accustomed to it. Best of luck and don't stop trying!

Stochs are unworthy. Who is to ascertain whether a market is overbought and oversold? Not a formula that is silly! In trending markets, price could stay overbought/oversold in accordance with the Stoch for weeks.

You're right of course, and that I wish I'd been less gentle in my reply

You are right of course, and I wish I had been less gentle in my reply

Gentle however persuasive. Your chart says it all.
Thanks Peter!

Stochs are unworthy. Additional comment here. Post # 31

Wrong. Once you understand them, they are not useless. Ironically, they are not promoted in their best light.

Https://www.cliqforex.com/trading-sy...s-markets.html

Why make all kinds of systems that are complied? Like it makes consistent this one when backtested looks pips with minimal drawdown.
Sure it sheds, and it misses alot of the movement, but it appears to make consistent profit using small drawdown (this is based on backtesting)

All you really need is a small number of pips somewhat faithfully and proper money management and you've got yourself a fantastic plan.

Consistency appears so much more than amount in forex, why don't you simply do something this rediculously easy? I am under/over thinking this?
I ignored EMA cross-over approaches as too simple/not great enough early on.... I find myself asking why after all

Wrong. They are not useless once you understand them. They are not promoted in their best light.

, please elaborate a bit further in your view about Stochs. I am genuinely interested as I've never found them useful (but then again I never found ANY indior useful).

Thanks in advance.

, please elaborate just a bit further on your opinion about Stochs. I am genuinely interested as I've never seen them useful (but then I never found ANY indior useful).

Thank you in advance.

I am always cautious when second guessing, however there is a method of treating stochs as a means of judging the feeble traders and fading them when holding on a major trend determined by the stronger traders.

I'll also be thinking about his response, so we wait with bated breath

Thank you ricardo, I never actually discovered that 1kt thing but I wonder I never did notice it

Come to think about it I prefer the idea of trading trends, but always thought they were something out from the ether. Ive never been able to tell the diff between a retracement plus a total reversal of the trend. I dont actually have the internalized logic of trend trading clicked in my mind anymore than elliot wave.

Ive been using big -like 365 sma to determine what the big picture is, but hasn't been really beneficial.

Ive got some studying to do then, any good sources for studying the nature of trends you guys can point me towards? --though inevitably ill probley come across some things by myself.

Thanks again everyone

Hello,
I too like Ricardo's post, very informative.
I'm by no means, a seasoned trader, but I have discovered a lot in the last few months.
In the beginning I would try things like MA crosses, etc.. I have learned that price does not follow indiors, indiors follow price.
The interaction of indiors with price is insistent. Learn to recognize these repetitive patterns.
Speaking for myself, I have found some MA's useful for discovering stage of a market, for example, bull trend, bear tendency, possible trend reversal. In particular I find that the 62 EMA very useful. It almost seems to act as support or resistance.
I learned that by spending hundreds of hours studying charts.
Some people trade without any indiors in any way. Simply using trendlines, support and resistance.
You don't need to be a professional, but an understanding of candle patterns is useful.
Then, there's also trading plogy. Plogy comes into play when you are trading with real money, weather its .10 a pip, or even 100.00 a pip.
BTW, you'd be surprised by what type of method beginning with .10 that a pip,
and working your way up to 10.00 per pip, as the acct equilibrium increases, can amount to in 2 decades.
A couple of good resources IMHO, are just 5 13 62, its a free Ebook located on Rob Booker's website. Another good site is babypips.
Hope this helps.

Wrong. When you understand them they aren't useless. Ironically, they are not encouraged in their very best light.

I utilize stochs only for trading divergence, in a non-trending market.
For example, If I see bearish divergence on the macd, the stoch must be oversold. I'll enter on the close of a bearish candle, and the fast point of the stoch coming out of oversold.
Works about 70% of the time.