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Trading Systems and Strategies
My Own Made Trading System
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[QUOTE="Easy Trader, post: 24172, member: 12260"] First off I'll commend you on not blowing out your account, this is a HUGE! You are on the right track. 2nd, you must realsize that you can not create something bullet proof. This is what you are trying to do with all of the analysis.(I know) I did this 'exact' same thing, but its good that you are doing it because it means you are trying to find TRUE success. Keep your risk% the same while in the research/development phase. You will be able to monitor your system easier. I don't like pivot's in forex, I don't think they are reliable/ its a futures market tool.(IMO) RSI/B.Bands are showing you the same thing O-sold/bought, pick one. (RSI IMO) Alligator is useless, the indicator is to lagging for what your doing.(IMO) Use MACD/RSI divergence with your D-tops/bottoms, but don't use it as entry criteria only supporting criteria. MOVE YOUR TIME FRAME UP!(I know you don't want to hear it) Trade the 30M or 1H and watch the 1H/4H/D. This is the most important nugget in this whole post. Watch exotics there are tons more great opportunities out there, once you move your TF up the spread doesn't matter. Watching one chart is crazy(IMO) its liketrying to successfully trade Apple stock everyday on a 5m timeframe, impossible to do long term. You are pretty much where I was 5 years ago, what happened to me was I slowly stopped using certain indicators as my confidence grew and eventually took them off my chart only using 1-2 occationally. I can send you personal vids on PA pointing out specifics and behaviors if you like I know that most material out there on PA is very vauge.GOOD LUCK I think your on to something!!! [/QUOTE]
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