Disliked{quote} No, if you look at some of the trades I made earlier, I held most of them until the next turn in price. It would not have to be at a S/R level, it can be while trading structure or a pattern, such as am "M" or "W", whereby I would enter or exit the trade, or reverse a trade at the turn of each new leg of the pattern. I normally don't hold a trade during a change in direction of the pattern that I am trading. I place a large number of trades, close together and use a close all script to end the progression and or reverse it at each turn of...Ignored
I see, amazing.
I assume the dotted lines between the red and blue arrows mark trade entries and exits ?
But how do you know that there is a turn in the pattern to exit or reverse at, as opposed to just a minor pull back which when completed then the original trend will continue on.
Thanks
Borg
May the Forex be with you.
As professional traders we don't use indicators at all, we use major support and resistance levels and order levels from other firms to place entry and exit levels. I've never been taught to use all these useless indicators haha. They don't work, the large banks cause price movement, it's not the overall concensus of everyone else in the market like hobby traders think. And professionals don't use indicators, so that entire method has no merit. This is why hobby traders lose all their money - they're playing in our world and have no idea how the market moves. You guys have no idea what you're doing, don't play in a world that you don't understand.. you are putting yourself at risk. We use bloomberg terminal at my work, it costs like 50 grand for 2 years, and all it does is deliver information/news - it doesn't use indicators. Indicators are all free in the world of hobby traders... hmm wonder why.
