Quote:
Originally Posted by Mr Average
I was just wondering if any of the thread's protagonists would be able to comment on something I've been thinking about. As I mentioned, I found that divergence improved the win/loss ratio, as did S&R entries on/around the 00 level.........
so I was thinking
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Stop right there
...you're about to make the common mistake which virtually
ALL newcomers make.
They think far too much for their own good!!
You have a basic template here on this thread (support-resistance) which knocks onto the natural extension study of supply-demand behaviour.
You have a couple reasonable additional price action triggers (divergences & inside-outside bar formations at key levels) to assist along the way.
That's all you require to begin formulating a strategy which can keep you out of trouble & return decent % slices to your account over the mid to long term.
The perfect set up doesn't exist.
Multiple filters are totally unecessary. They'll merely serve to confuse & disorient you. Why confuse something so simple in it's observation & execution??
More isn't best.
You've got everything you need to begin making money in these instruments right there in the guts of your post.
Begin stacking & assembling the information you already have to best suit your specific needs & aims. As long as you adhere to sensible risk & (trade) money management templates, then you'll begin to assess whether this type of trading model has legs (for you) or not.