Dan wrote:I feel your pain news but I realized that picking the tops or turn arounds is for the experienced guys and that will come to you eventually. Go with the flow and trade the retracements in the trend, in the direction of the trend, its just safer.
From my point of view, "picking the tops/bottoms" and "trade the retracements in the trend" is the same. A top/bottom is always the end of a retracement of an another move, so it's a matter of perspective.
To me, there is no trend. One can say there "was" a trend but nobody can't predict if it will continue for years or stop in a minute, so there is no defined trend, apart for looking at the past. That's why I believe it is more crucial to have a proper MM (small losses and big winners, if possible) to be succesful than having "magical" entry points.
This is just my opinion.
If you master forex you can almost predict a trend very easy but it takes years to accomplish that!!! After all traders use a method to GUESS the right direction and according to the method you use you will guess a lot of times the right direction but the missers are no bad guessing they are just there because your method is not the holy grail!!!
You have to master al the frames at once and you start from the high frames extreme to enter on a low frame to catch THE TREND in pieces. It is even possible to ride a trend stay in trade and scalp or trade the pullbacks but that's only in europe otherwise it is the fiforule!!!
The other question is why should i ride several 100 pips? That's a total different story and depend on your MM. Like most of the older members know that i play very agressive with high lotsize there is no need to trade those big runs i just want a piece of it
If you would like the same results like mine with lower size then you need to catch more of the run as i do. There will never be a person who can tell you how you can make the most out of it. Some people say it is not important where to enter and the same people will say that it is all in the MM, while other people keep saying (like i do) that entry is the most important part of trading (altough when you play high leverage)
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!