Dear All
I am a 59 retiree although I have a full time job at this moment. I have been trading forex for almost a decade and 3/4 of this decade was not making money. However, I have come to understand that most trades using indicators are a total waste of time. It is lagging, it follow price. When price goes up the indicator goes up and vice versa.
I have been using engulfing bar as a reversal pattern and using semofor 3 (it repaints and it is a good thing not bad) as a filter to let me see the swing points. The engulfing bar must strictly followed by a confirmation bar before entry. This confirmation bar is a must to ensure that there is follow through after the engulfing. A picture will let you see what I mean. This technique is not my own and if you felt I plagiarised your work, let me know. I will stop this thread.
First some house rules:-
1) strictly no criticism or bullying with ego statements, abusive, or intimidating words. If you don't like, just get out
2) I do not need to show you my trading result as I am under no obligation
3) no deviation from the technique use here. This thread started with the aim for interested parties to make constructive contribution and make it better
4) constructive opinion and questions are encouraged but please understand that I am a working person not full time trader
5) prefer to have lots of encouragements with fellow traders and no harassment (I repeat)
This technique is easy to understand with very minimal indicators which complicates.
thank you
I am a 59 retiree although I have a full time job at this moment. I have been trading forex for almost a decade and 3/4 of this decade was not making money. However, I have come to understand that most trades using indicators are a total waste of time. It is lagging, it follow price. When price goes up the indicator goes up and vice versa.
I have been using engulfing bar as a reversal pattern and using semofor 3 (it repaints and it is a good thing not bad) as a filter to let me see the swing points. The engulfing bar must strictly followed by a confirmation bar before entry. This confirmation bar is a must to ensure that there is follow through after the engulfing. A picture will let you see what I mean. This technique is not my own and if you felt I plagiarised your work, let me know. I will stop this thread.
First some house rules:-
1) strictly no criticism or bullying with ego statements, abusive, or intimidating words. If you don't like, just get out
2) I do not need to show you my trading result as I am under no obligation
3) no deviation from the technique use here. This thread started with the aim for interested parties to make constructive contribution and make it better
4) constructive opinion and questions are encouraged but please understand that I am a working person not full time trader
5) prefer to have lots of encouragements with fellow traders and no harassment (I repeat)
This technique is easy to understand with very minimal indicators which complicates.
thank you