forextrading wrote:just observation
How would you trade the large chart?
Where would you put your stop?
Where would your stop trail to?
Trading is as easy as placing a stop, but trading is not just placing a stop
Price spends most of its time, some say 80%, moving sideways & this time spent between the extremes is what transfers safety to your stop loss...
...you get to see a lot of intraday price action and react rather than getting stopped out and seeing a lot of intraday price action
Give a trader of space his last 5 pips and a decent lot size and he can work a miracle
If you click the link in my signature and read forward then you might begin to understand how to trade for dollars...
...if not then you might follow the others in their pursuit of pips.
I need turn on a RENKO chart to see everything clearly.
I use a large chart to check the main trend. If I use a stop loss that I put him on the other side of the extreme or swing. I Do not move the stop loss for a single position.
I heard about the price most of the time spent in sideways. But I think it depends on the trend detection techniques. In my opinion there is always a trend and all depends on the timeframe.
I created this plan:
1. First check what is the trend
2 find a place on a large graph in which the price will change direction (extreme, swing, S/R)
3 enter the trade on a smaller timeframe.
4 add position on a smaller timeframe towards greater timeframe.
5 Reduce the risk to the increased number of positions on a smaller timeframe.
5 liquidate everything at the opposite extreme.
So far I have tried to use exterme of 15 timeframes:
H - hour, D - day, the-week, M - month
I need RENKO chart
- Today check.
Some say that the price moves sideways, in my opinion trend exists.
100 pips box.