Support and Resistance | Foreign Exchange EA Download - MT4/MT5 Resources
I feel like I know what I'm talking about but to be honest I'm pretty new to trading compared to others but I feel very lucky to be one of the 5% consistent winners. I have seen many systems but the way I trade is not really a system but a belief system. That is, when I see the following pattern, I believe that if x happens to y, z will form.
Some "systems" are actually a framework that you can use to gather information and make intuitive decisions. We also often use emotions as energies that influence the perception of market data. The choices we make and the data we are able to identify and interpret should always be based on the behavioral experience of the instruments involved with our senses.
We come to expect the market to behave a certain way, and it behaves enough to make us our friends. But a trend isn't your friend, it's someone you can trust most of the time but sometimes behaves strangely. The holy grail has to be to get every mathematically possible point as if you can see what it will do, like Back to the Future and Sports Record Magazine.
I've heard and seen people get 95% wins with a good ratio of 1:1 to 3:1. I don't do that now, that's my goal. You can understand the framework of how a currency moves, and just by understanding how it defines its movements, you can make the right call. We are using these when we use moving averages, fractals, or neural programming, so when you are new, learn these first. Then you don't have to just learn and blindly trust a system that you don't understand how it works. You're going to do what you know, and you're not going to get emotionally involved in the same way, and you're going to basically lay the proper foundation to become the best trader you can be.
Honestly, I seemed to know a lot about trading, I wasn't worried about doing it well, I just didn't have the stakes.
Good luck and please comment from anyone who basically trades without a system and what worked for you. I basically look at price action, trendlines, channels, Fibonacci and the number of Fibonacci points away from important points like entries, breakouts and major S&Rs
http://www.andrewconnor.com/untitled.JPG
Some "systems" are actually a framework that you can use to gather information and make intuitive decisions. We also often use emotions as energies that influence the perception of market data. The choices we make and the data we are able to identify and interpret should always be based on the behavioral experience of the instruments involved with our senses.
We come to expect the market to behave a certain way, and it behaves enough to make us our friends. But a trend isn't your friend, it's someone you can trust most of the time but sometimes behaves strangely. The holy grail has to be to get every mathematically possible point as if you can see what it will do, like Back to the Future and Sports Record Magazine.
I've heard and seen people get 95% wins with a good ratio of 1:1 to 3:1. I don't do that now, that's my goal. You can understand the framework of how a currency moves, and just by understanding how it defines its movements, you can make the right call. We are using these when we use moving averages, fractals, or neural programming, so when you are new, learn these first. Then you don't have to just learn and blindly trust a system that you don't understand how it works. You're going to do what you know, and you're not going to get emotionally involved in the same way, and you're going to basically lay the proper foundation to become the best trader you can be.
Honestly, I seemed to know a lot about trading, I wasn't worried about doing it well, I just didn't have the stakes.
Good luck and please comment from anyone who basically trades without a system and what worked for you. I basically look at price action, trendlines, channels, Fibonacci and the number of Fibonacci points away from important points like entries, breakouts and major S&Rs
http://www.andrewconnor.com/untitled.JPG
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