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Old 08-30-2008, 12:31 AM
TheRumpledOne TheRumpledOne is offline
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Join Date: May 2008
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Quote:
Originally Posted by Tess View Post
I guess I would describe myself as a strictly discretionary player. I’ve never subscribed to the fact markets can be pigeon-holed or boxed into neat little mechanical robots.

I’m not saying algorithmic sets & shuts can’t return long term profits to a well oiled corporate or mid sized fund etc, but in my experience, you require very deep pockets and a large desk full of extremely sharp minds to set about sullying your hands in that environment.

I much prefer to bend & sway to the rhythm of the market, whichever cycle or wave it decides to sweep me along on.

You’ve already seen a few of my chart examples on here, & to be honest, there won’t be too many variables to any future chart posts. I like to stick pretty close to a general template & merely tweak my parameters according to which direction the wind blows.

Markets (especially currency pairs) tend to move in aggressive waves & nervous retracements. They’re one big pile of psychological warfare, all jostling for position & a decent chunk of profit. When they’re done flailing around, they’ll sink into a dozy, lazy state of flux until the next tide comes along to whip up the surf. Recognizing each of these cycles will stand you in very good stead when attempting to execute your specific template for that particular market cycle. Or more importantly....standing aside until the market behaviour fits your template.

Remember: inactivity is also regarded as a "position" in the markets


Get your table set out according to your action plan, ensure you got sufficient funding & protective measures for your aims & expectations & you can begin planning your preferred mode of execution.

I can’t (unfortunately) divulge all my little tricks & party pieces, as some of them are proprietry tools. But my generic research & observation exposure across the pairs I trade are always consistant in their preparation.

I like horizontal lines of potential engagement. I like them a whole lot!!


Over time they’ve consistently returned good odds to the methods I choose to strike under. I’m a great believer in working smart not hard, LOL.

If I can fire enough bullets at a similar target, on a similar battle field at a similar enemy without getting shot too many times in return, that’ll do for me!

In other words: find your favored set-ups…get your discipline sorted….keep well within your financial boundaries & always be prepared to bow to Mr Flexible…achieve a good chunk of that & you’ll be better prepared than 90% of your fellow combatants.

Here’s a couple examples of what I mean. Feel free to discuss, disagree, confer or ask questions. Look forward to reading & contributing stuff as it arises & time permits!
I like HORIZONTAL LINES, too!

All You Need To Trade Is A Horizontal Line
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