Fundamentals of trading financial markets – do so at your own risk! (Trade the fundamental principals of fina)
In this presentation I will try to explain everything as thoroughly as possible and I will answer all questions carefully.
As with any method that has positive expectations next to its title, you need unshakable discipline, following simple rules, applying common sense and adopting a winning attitude to make it work for you.
This is an intraday trading method designed to capture major market moves with excellent risk/reward while limiting the number of signals in a very specific way. Looking at charts all day is very boring, especially when we have no idea what is going to happen. The temptation to trade out of boredom is huge, "The market is running away, I don't want to miss the train", "I just missed the XXXX dollar move, next time I will find a reason to enter!". These are just some of the things you would tell yourself when looking at intraday charts, but be aware that the signal you are looking for is not there.
In order to prove the fact that waiting for the absolute best signal is crucial and detrimental to your success, you may have to actually watch these charts, get bored, tell yourself the above things, enter trades recklessly, bring huge losses to your account, only to find that waiting is entirely in your own best interest.
*********************************************************
chart:
We will use a single time frame, which is 15M. The only time we would consider another time frame is when we are drawing trend lines and identifying important levels in the market.
Overlay the following on your chart:
150 Exponential Moving Average
50 moving average
CCI 50 + 14 (see attachment)
The CCI is an indicator that many people dislike for one reason or another, its main purpose is to increase your confidence and serve as a great visual aid in measuring market momentum. Thanks to Dr. Bob who first described the use of 50 CCI in a document available on another website. Information about CCI and what it means
http://stockcharts.com/school/doku.p...nnel_index_cci
Please do not skip this link.
Your chart should look like this:
Some key points:
* I use this strategy on Japanese yen crosses such as AUD/JPY, EUR/JPY and GBP/JPY. These currency pairs offer amazing volatility and when combined with these setups can provide potentially very valuable trades, risk/reward wise. It works with any unstable tool.
EDIT: See post #97 for CCI indicator
-------------------------------------------------------------------------------
More information coming soon.
As with any method that has positive expectations next to its title, you need unshakable discipline, following simple rules, applying common sense and adopting a winning attitude to make it work for you.
This is an intraday trading method designed to capture major market moves with excellent risk/reward while limiting the number of signals in a very specific way. Looking at charts all day is very boring, especially when we have no idea what is going to happen. The temptation to trade out of boredom is huge, "The market is running away, I don't want to miss the train", "I just missed the XXXX dollar move, next time I will find a reason to enter!". These are just some of the things you would tell yourself when looking at intraday charts, but be aware that the signal you are looking for is not there.
In order to prove the fact that waiting for the absolute best signal is crucial and detrimental to your success, you may have to actually watch these charts, get bored, tell yourself the above things, enter trades recklessly, bring huge losses to your account, only to find that waiting is entirely in your own best interest.
*********************************************************
chart:
We will use a single time frame, which is 15M. The only time we would consider another time frame is when we are drawing trend lines and identifying important levels in the market.
Overlay the following on your chart:
150 Exponential Moving Average
50 moving average
CCI 50 + 14 (see attachment)
The CCI is an indicator that many people dislike for one reason or another, its main purpose is to increase your confidence and serve as a great visual aid in measuring market momentum. Thanks to Dr. Bob who first described the use of 50 CCI in a document available on another website. Information about CCI and what it means
http://stockcharts.com/school/doku.p...nnel_index_cci
Please do not skip this link.
Your chart should look like this:
Some key points:
* I use this strategy on Japanese yen crosses such as AUD/JPY, EUR/JPY and GBP/JPY. These currency pairs offer amazing volatility and when combined with these setups can provide potentially very valuable trades, risk/reward wise. It works with any unstable tool.
EDIT: See post #97 for CCI indicator
-------------------------------------------------------------------------------
More information coming soon.
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