Trading Knowledge - Page 3
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Thread: Trading Knowledge

  1. #21
    Https://www.forexbrokerz.com/news/forex-risk-management regardless of what your trading egy is, it's likely to conduct in a string of losing trades. If you don't control your vulnerability during them, you might get serious losses. And this is the principle which some novices might not know: The very first step towards making money in the forex market, is to prevent losing. Every newbie should have at least a passing understanding of risk management, I presume.

  2. #22
    Hi all,
    This thread is actually useful for a newbie . I'm new to Forex trading and I like the way how everyone is sharing information in this thread , due to which we newbies are able to learn a lot of things
    Since everyone
    Hope you've Happy trading!

  3. #23
    Well, good thought! That is the main advantage of using forums neighborhood! Incidentally, here for becoming a successful Forex trader, we must guarantee technical, fundamental sentimental trading ability! Without knowledge success is hopeless!

  4. #24
    You can accentuate your understanding of trendlines.

    Trade thrive and safe.

    KP



  5. #25
    Quote Originally Posted by ;
    image


    I wouldn't trust too much this image actually.
    Let's take for instance the very first single PINBAR.
    This is actually an excellent signal, but I read it often quite opposite.
    If this RED candle is on the conclusion of longer move up (let's say 5-10 candles) that is quite good signal (ca.70%) for reversal, especially when We are above some MA [10 - 20].
    If the same RED candle (Yes, Red !) Is on the conclusion of longer move down, that this is quite good signal (ca. 90 percent and up) for reversal.

    Best Regards!

  6. #26
    Hi SoreLoser1,

    Actually I use this sign very often, but among others.
    If I would have full developed egy based on this kind of PINBAR I would talk about it with You with delight.
    But I don't, because generally I trade otherwise. I really don't use stringent egies, but rather I trade intuitively, basing on signals along with other analysis that I know and understand.

    To be clear, let us have an example:
    This sign is a good sign under conditions that I wrote in previous article. However, for me such sign gives only information what to do, but not exactly the way to do.
    Let us take such scenario:

    When I see this there are items that I know, e.g.:
    that the price is extremely likely to return

    . . .and many other things that I don't know:
    - where will the transfer begin: around level 4? 5? Perhaps higher or somewhere lower?
    - where will the transfer go up first (because most possibly will)? Level 2? Level 3? Maybe 1? Or a little higher?
    - just how long would be corrective movement down (will it go to 1/2 of this move up? Perhaps more maybe less)

    So having only understanding that direction we expect to go, and having so many variables I still can make some profit, but now it is not that easy.
    Should You program some EAs then you're probably kind of analytical mind. You may imagine how difficult it is to compose a strict program to get a computer that cannot address this issue such creatively alone.
    Also having no clue what are the price borders of this moves it is extremely difficult to use high leverage.

    In next posts I will show you exactly what I do to create profit from the circumstance.

    When something is not any clear in this informative article please write, I'll attempt to make it even more transparent.

    Regards!

  7. #27
    Still a bit of stuff for my Rookies buddies :


    It seems a joke, but perhaps it is not :
    https://www.nigeriaforextrading.com/...irs-worth.html
    133 tips :
    https://www.nigeriaforextrading.com/...1622711405.pdf
    Discipline ! :
    https://www.nigeriaforextrading.com/...8908283137.pdf
    The Iceberg :

    Golden words :

  8. #28
    Quote Originally Posted by ;
    Hi , Actually I use this sign frequently, but one of others. If I'd have complete developed egy based on this kind of PINBAR I'd talk about it with You with delight. However, I don't, since generally I trade. I don't use strict egies, but instead I trade, emphasizing signals along with other analysis that I know and understand. To be clear, let's take an example: This sign is a good sign under conditions that I wrote in previous article. However, for me such sign gives only information what to do, but...
    Haha your best as a analytical person I just need a set of rules or a algorythmic logic to follow. Basicaly if I take into account what your saying we should have a high likelihood of a change or correction if a pinbar appears after a lengthy move down or up, atleast X quantity of candles. We include a stop loss and track our profits with no fixed take profit and there we've got a egy. If I can create a EA I'll share it with you thanks Marecki

  9. #29

  10. #30
    Quote Originally Posted by ;
    quote Haha your right as a analytical individual I just need a pair of principles or a algorythmic logic to follow along. Basicaly when I take into account what your saying we ought to have a high likelihood of a change or correction in case a pinbar arises after a lengthy move down or up, atleast X amount of candles. We include a stop loss and track our profits with no given take profit and there we have a egy. If I can create a EA I'll share it with you thanks Marecki
    OK, so let's try to collect some conditions to describe computer how to deal with the trades.
    I would likely try to get it done this way:

    1. Check if this is appropriate pinbar: (
    little body in relation to the longer wick,
    long wick down when move was up or extended wick up when move was down
    body down when move was body or down up when move was up)

    2. Assess if move was large (in time / at value / at both):
    (let's say minimum 6 of 7 consecutive candles are same leadership
    or at least two candles same leadership with really long body)

    3. Open transactions (let's say on receptive on new pub, and 2nd and 3rd must be open orders higher than end of transfer up or lower than proceed down):
    I would place TP on each of 3 transactions related to the size of a previous move (let's say value between [High - Low] of this pinbar along with the half of previous transfer)

    4. Close transactions (when at least 2 TP were obtained,
    or
    no matter how many TP triggered, but total profit is around [TP1 TP2 TP3] * 55%)

    5. Security (I do not use neither in medium size leverages, nor in low size leverages, but when EA will work with high leverage than it is a fantastic question where really put SL. Geometrically it should be around 0.65*length of previous move, but dependently of the leverage such safety May Be useless)

    Cheers

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