Interesting. I was looking at Joe Ross's 1-2-3 pattern, and he only has one type of definition/setup for this type of pattern. I was thinking something like this could be repeated recursively, such as in fractals or Elliot Wave (without the magical ...

Dagny Taggart ~ 1 2 3

...or better yet, use the "anti-hedging" strategy. Hedging is just hiding your losses instead of cutting them short, and you just wind up paying interest and more commissions... why not just cut your losses? Or if for some really good reason you ...

Help me to make a list of brokers that allow hedging in the same account!

Most of the time that divergence is because of one being bounded and the other being unbounded, which is why I pointed out that this was the biggest difference between RSI and CCI. In my opinion, the subtle differences between RSI and CCI could be ...

People who don't know why it works..

The longer term time frame dictates the trend. If a divergence occurs, this means it is most likely a temporary pullback (the peaks and troughs you typically see in a trend). Occasionally, it could mean a trend change, but more often than not it is ...

Multiple Time Frame Trading: In a divergence, which frame dictates?

The major difference between the CCI and RSI is that the CCI is an unbounded oscillator, and the RSI is bounded. What this means is that the RSI is forced between two values, and the CCI can theoretically go to positive and negative infinity. MACD ...

People who don't know why it works..

This reminds me of something: I know someone who's a TA grad student, and he was telling me some of the awful essays he had to grade. The best one was someone copied an essay word for word from free-essays.com... and even sited it as a source! ...

People who don't know why it works..

Yeah... as I said earlier, it makes me laugh that most scalpers trade the AUDJPY for the pips and avoid the EURGBP because its daily range is small in terms of raw pips. They're missing the profit for the trees... or something like that. But that's ...

Poll: Is successful trading more dependent on skill than luck?

Yep. Adding willy nilly to trades as part of your pyramiding is dangerous: it's the second most common mistake newbies do when they first hear about pyramiding... the most common mistake is to add to positions when the initial trade is in the red, ...

Real Grail in Money Management

Jeez... I do very little work with cameras, and I know the answer to that: it depends on your depth of view... do you want things in the background blurry or crisp? Yeah... I have very little tolerance for people who can't find general information ...

People who don't know why it works..

Why not just go with an ECN broker where you get an open book of all the trades on the interbank market? Two of the ECN brokers I know of also trade futures, so you can do what Trader KGB suggested as well.

can broker spread increase be exploited?

You can learn a lot from listening to Kenny Rogers Personally one of my favorite books on trading psychology is Zen and the Art of Poker.

Poll: Is successful trading more dependent on skill than luck?

I once took some trading classes from a futures "guru", and the whole system was based on "magic numbers" (ie: Fibonaccis, multiples of 180, etc.) One guy asked him why it works and the response was "I don't know... it just does." At that point I ...

People who don't know why it works..

The problem with the Elliot Wave is that it is a model that needs to be fit precisely in order to "prove" that it works. If you look at an uptrend, there can be any number of waves and peaks in that trend, but Elliot theory says that there must be ...

how often do you change your system?

The Donchian Channel is simply the highest point from now to x bars ago, and the lowest point from now to x bars ago. The default setting is usually 20 periods, so in that case, you would look at the last 20 bars, find the highest and lowest price, ...

Need help on donchain channels

I bet mbqb11 just got your pips! Seriously... the part of having a tight stop and setting a limit order to go back in your direction at a better price almost sounds like jacko's "Anti-Hedging" strategy. The difference is he waits for the market ...

Any use for stop hunting?

Darkstar practices this, but I haven't read many of his posts. Someone else here hunts stops as well, but I can't remember his handle right now.

Any use for stop hunting?

I'm just laughing my ass off that he did this by scalping the EURGBP Most scalpers go for AUDJPY because "it has a lot of pips", and avoid EURGBP like the plague because "it barely moves 50 pips per day". Just goes to show that it's the value ...

Poll: Is successful trading more dependent on skill than luck?

Stop losses are meant to be for disaster situations, such as when you're not looking at the market or when the market quickly goes against you. An adequate system should have an exit signal before the stop loss is hit. Using a stop losses as the ...

Any use for stop hunting?

I'm thinking that really is the spread for AUDCAD. I don't have that pair listed in Oanda, so I'm guessing that it's really not traded that often. If it were AUDNZD, I would be a little more concerned, as these are neighboring countries.

Where is the liquidity?

Everything you need to know about trading can be learned from Kenny Rogers: "Every gambler knows: the secret to survival / is knowin' what to throw away, and knowin' what to keep." (cut off your losers, and let the winners run) "'Cuz every hand's ...

"Awareness" Quotes and Snippets