@Rambo35
Strange you should say that when the sole purpose of demo trading is to develop a strategy that you feel will help generate profits, yet you believe it’ll do the opposite when I go live… Care to share what makes you say that, how you developed your strategy & how you manage to survive & keep generating profits?
I continue to learn from my trades & losses about myself, trading style & my weaknesses, it’s actually placing my attention on the charts for long hours that make me vulnerable to letting my emotions take over & the thing is, I leave my emotions whether it’s excitement, a bit of an ego from winning or fear of losing in the games that I play when I compete online or with friends and as soon as the hourly or 4hr candles close, I pause & put aside my emotions when I monitor my trades…
@Ivanyo
I get what you mean, but trying out the trendlines won’t hurt especially since you depend on horizontal levels for support & resistance along with other tools to signal your entries or exits I presume…
If by any chance you got some time, I’d say try looking up & reading Myronn Saremo’s ebook about trendlines or maybe watch a video or 2 on YouTube from DailyFX on how they use trendlines… Put the theory to the test & tell me what you think.
As for trading the news, I’ve stuck to understanding & keeping an eye on important economic data releases but I’m not much of a news trader - prefer to minimize risks by shifting to break-even, taking my profits in case the data goes against my trades or simply stay out the market during the announcements.
Decided to go back to the drawing board, read a couple of ebooks & the videos you suggested about Fibs along with a few I found on DailyFX on their YouTube channel… Throughout this month I’ve been experimenting & analyzing how they work on my demo account & think I’ve finally got the hang of it, and just thought I’d thank you once again! Feels like I found the missing piece to the puzzle of my trading strategy
It is a good thing that you are educating your self and you should continue and never stop. The only thing what I think is not the best idea is learning from demo account. You can learn the basics for trading platform on demo account, but nothing else. What ever strategy you will develop on demo account is not going to work on real account.
You still haven’t even answered my previous question as to how you developed your strategy that enables you to generates profit since you persistently claim that whatever works on demo won’t work on a live account
So I’ma rephrase & ask ya this… If trendlines, horizontal support & resistance along with Fibonacci ratios work on demo - what will stop them from working on a live account?
Been a while since I’ve posted anything… But basically I’ve finished my studies, got a new job as a sales consultant which is quite demanding in terms of the work hours, but overall I’ve adapted my trading style to my lifestyle & mainly looking at trading the daily & weekly timeframes but also seek out early entries by using the 4hr timeframes when prices reach the levels I patiently wait on. I’ve considered starting up a blog sometime next month to enhance my technical analysis skills by fusing all that I’ve learnt using horizontal lines along with trendlines as support & resistance levels but will also post to the forums that deal with the pairs that I’m focused on: GBP, NZD, Gold & Crude Oil.
