No; they're not. "Price action" methods are ways of trading without dependence on indicators. Apologies for the contentious tone, but this really is deeply mistaken. Many price action traders don't use candlesticks at all (as well as not using ...

Indicators for rookies

There's a huge number of options (I could probably list 15 or more, if pressed). Key point: there isn't a "best" one. Whichever method you use, for each trade there will almost always have been a method that would have been better, on that occasion, ...

What is the best method to define Stop Loss?

This all sounds fundamentally sensible and reasonable, to me (especially the 0.5% position-sizing). My only reservation about it relates to the 2-6 week duration of the trades, and I'm offering this thought without knowing how you decide that, but ...

Have been chasing trends for 14 months - Some thoughts

The one to which I find myself referring fellow-members most often, here, is Michael Harris's book, Profitability and Systematic Trading (Wiley, 2007). Without a reasonably accurate understanding of these concepts - either from that book or from an ...

what is the best forex book?

This current thread may interest you: Bollinger band/CCI Divergence

Looking for Bollinger Bands strategies

It's been around for a long time. We live in times of ever-increasing compliance regulations. More and more countries and regulatory authorities are requiring such warnings to be increasingly clearly and prominently displayed, these days. It varies ...

"Losses can exceed deposits"

Yes: the mutual proximity of multiple horizontal lines/zones of recent support and resistance. Or, if using the Ichimoku Kinko Hyo indicator-set, the relative thickness of the "kumo" (cloud-formation), which illustrates much the same thing, in a ...

What is your best chop indicator to keep you out of choppy markets?

If you're really going to sleep for that long, I recommend a little more caffeine, or a little less brandy, or something ...

Honing a strategy

Like Martingale position-sizing, it can sometimes work (otherwise there wouldn't be such debates about it at all, of course), and that's the problem: it's rearranging the deckchairs on the Titanic, and eventually meets with a disaster. But to answer ...

Trading without SL: your profound experience

No; I don't believe there is. And there are reasons for that. And they're objective, immutable, reliable, reality-based reasons that apply to everyone else just like they do to you and to me. Please excuse my sounding a "skepchick-in-advance" but if ...

Trading without SL: your profound experience

Please excuse my making what might come across as a somewhat pedantic point, but strictly speaking it isn't possible to tell from backtesting what works and what doesn't: only what worked and what didn't. The tense is rather significant. That ...

What works, and what doesn't

It's not really about how often you lose 10 trades in a row, Jens. It's about how often you have a collective group of 50-60 trades in which the preponderance of losers over winners is such that the net cumulative effect is financially equivalent in ...

5% risk per trade?

Only education, experience and what I perceive as "the weight of probabilities" on the basis of them. Certainly not indicators. But for the most part I don't try to predict whether or not channels will break, anyway: I wait and see. I find bars much ...

Breakout, Fakeout or a Reversal?

With apologies (and I do appreciate this might sound a little bit "churlish", in its context ) I never mention income-figures online, but I've now been steadily making what most people would consider a "good, full-time income" (in the UK) ...

How many strategies does one need?

That's an easy mistake to make, when someone starts a forum thread with the intention of interacting with them. I didn't say it wasn't: I simply observed that your behaviour here was obnoxious, which it is - as several other members have now also ...

What is the MOST important level on your chart today?

One - if it really presents enough trading opportunities (there are some brilliant systems that trade only three or four times a year, but I wouldn't fancy trying to make a living from them). None of mine does present enough trading opportunities, ...

How many strategies does one need?

Indeed not; but many thanks for your so-tactfully-implied characterization of the majority of us that way. It makes me really eager to discuss it with you.

What is the MOST important level on your chart today?

I suspect that to answer this question definitively, you're probably going to need to compare the actual, traded, observed, proven outcomes of 300+ consecutive trades with the trailing stop with the projected alternative outcomes of those same ...

Honing a strategy

I don't know the system you're referring to (and that doesn't matter), but I'm rather impressed with your list of ten points above. Eight-and-a-half to nine out of those ten points apply validly to all the routine intraday trading I do, and they ...

Honing a strategy

I think that it doesn't make any difference to you at all, unless they're offering something else instead of that, and giving you some incentive for yourself. In marketing terms, being referred to a vendor of a product/service through an ...

Questions about opening a Pepperstone account