In my early session of live trading I took my TP too early because of my lack of trading expertise! Incidentally, I don't shut my trade manually whatever the outcome it is! I am aware of, 100 percent is impossible here; so I'm always prepared for my live trading outcome.
That's the real Procedure! Yes, discipline is the key! I believe, 1st of all traders need to ensure their trading analytic quality! Then they have to stick to the overall procedure, I suggest trading together with all the SL TP! Additionally, they should choose their SL TP based in their egy or analysis!
quote In the moment I am using Ichimoku Kinko Hyo as my indior. But I use the 3 core theories cited by Hosoda: Wave Principle, Time Principle and Price Principle. This allows me to have a better knowledge of the market so that I can enter and exit at the right time. There are a number of different forecasting tools Elliot Wave Principle, Hurst Cycle Theory, Three Peaks and the House of Doom and the Ichimoku Theory. In my opinion, a fantastic forecasting tool will give you an advantage, whether you use price action or a indior. This...
Thanks for the detailed reaction.
As a entire newbie I tried using that indior, also, I admit, at the time I did not understand it I ended up moving onto other things. Perhaps I need to look into it more now that I have a bit more knowledge and experience.
quote Thanks for the detailed response. As a total newbie I tried using that indior, and, I admit, in the time I didn't know it much and I ended up moving onto other things. Perhaps I should start looking into it more now that I have a bit more knowledge and expertise.
In my view knowledge is power thus you should read as many books as you can. As you're a total newbie, then my advice for you is to learn a fantastic forecasting tool first before you dive to the indior department. The problem with Ichimoku is that hardly anybody in the western hemisphere uses it properly. This is since Hosada's publiion has never been translated into English along with Sasaki publiion of Ichimoku Studies. Elliot Nicole wrote a novel, however, she didn't do a fantastic job in my view. The heart and soul of both Ichimoku are these three theories. Hidenobu has been Japan's greatest analysis for 9 consecutive years before he expired in 2003 and his first student Yutaka Yoshino is currently Japan's 2nd/3rd greatest analysts.
In case you don't have any inclination towards indiors then you ought to focus on price action trading. My advice is to either use harmonic trading or pattern trading. Both of these have the capacity to forecast price later on if used properly.
quote In my opinion knowledge is power thus you should read as many publiions as possible. Since you're a total newbie, then my advice to you would be to learn a good forecasting tool first before you dive into the indior section. The problem with Ichimoku is that barely anyone in the western hemisphere uses it correctly. This is since Hosada's publiion has never been translated into English alongside Sasaki novel of Ichimoku Studies. Elliot Nicole wrote a book, however, she didn't do a good job in my opinion. The heart and soul of...
My apologies, I did not express myself properly. I'm no longer a total newbie (I'm by no means a pro, but I'd love to think I'm a little more experienced and edued than I had been as a total newbie) - I still have not been one for a few decades. What I was attempting to say was back when I was a total newbie I gave Ichimoku a try and it didn't work out, so I moved onto other items. These days I mostly use Bollinger Bands as an indior. Once more, I am sorry I didn't express myself better.
quote My apologies, I didn't express myself correctly. I'm not a total newbie (I'm by no means a professional, but I'd like to believe I'm a little more experienced and edued than I was as a total newbie) - I still haven't been one for a few years. What I was trying to say was that back when I was a total newbie I gave Ichimoku a try and it didn't work out, so I moved onto other things. Nowadays I mainly use Bollinger Bands as an indior. Yet again, I'm sorry I didn't express myself better.
I ought to be looking forward to misinterpreting your prior post. Trading is a challenging business, so I'm glad to hear that you have gained the necessary experience. Bollinger Bands looks like an interesting indior, but I had the time to actually examine it. If I could ask, what's your exit egy? Do most Bollinger Band traders exit out of a trade when price action goes beneath the standard deviation line? In my opinion it could be a good idea to combine Bollinger Bands using fractals since it can increase your chance to get on the right side of this market when price breaks out especially if those rings become tight. USOil on the 1 hour chart showed a good illuion of this method on the 28/8/2017.
quote I should be looking forward to misinterpreting your previous article. Trading is a tough business, so I am pleased to hear you have gained the essential experience. Bollinger Bands seems to be an interesting indior, but I had the opportunity to actually study it. If I could ask, what's your exit egy? Do most Bollinger Band traders depart out of a trade when price action goes below the standard deviation line? In my view it may be a fantastic idea to unite Bollinger Bands with fractals since it can raise your chance to get on the right...
I blend the indior with candlestick analysis. The indior rings show pretty excellent support and resistance levels, particularly when the currency pair is entering a period of sideways consolidation, and various candlestick formations can give a fantastic signal when exactly to close a transaction since the pair's about to reverse from the service or resistance.
quote I combine the indior with candlestick analysis. The indior bands show pretty excellent support and resistance levels, particularly when the currency pair is entering a period of sideways consolidation, and various candlestick formations can give a good sign when just to close a trade since the pair's going to reverse from the service or resistance.
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