I found this site and your blog late last week and have tracked a couple of your recommended trades. They were good trades. Based on what I have read on your threads, this is not surprising. I will continue to follow you and see your progress.
I am relatively new in this arena. I am currently reading Steve Nison’s “Candlestick Charting Techniques” and plan to read his and other works you have recommended. My goal is to slowly progress into full-time currency trading. I have set a 1-year window and willing to commit a minimum one hour daily (weekends) to get there. My main question to you is: Have you gained your knowledge of forex trading from your recommended readings? If so, that is very encouraging. I would like to further understanding your trading methodologies. Although your signals are wonderful, to become a full-time currency trader, I need to “know how to fish” instead of receiving a fish here and there.
You are a breath of fresh air in this world of forex. After visiting your website I love what you stand for (giving back because it DOES make you “richer” in many ways). I would like to take my forex journey with you.
Hello. I do use Stoch oscillator and the higher the time frame, the higher the signal accuracy but the less no.of trade’s. I ussually follow H1 timeframe to plot the divergence. Once divergence occurs on determined key support or resistance level’s, i’d take that trade.
You need not worry much about the setting’s, don’t analyse the indicator too much. Standard setting’s will do the needful.
Thank you for your post and our questions. I like intelligent questions and they will always receive priority of my attention and therefore answers.
First of all congratulations on committing to learning fx trading This is very commendable and clearly demonstrates your discipline.
Secondly, I feel 1 hour per day for a year is rather on the short side - you need to probably need to increase both timeframes - if you know what I mean
Thirdly, the resources I recommend are those that I have personally studied and found useful. This is not to say that any one of them have been the essence of my trading - they clearly are not. I am of the disposition that if you acquire much knowledge and experience - you will soon begin to synthesise this information in novel ways and thus bring about your own slant on trading the market with your creativity.
I am also an advocate of ‘learning to fish’ and I have stated from the very beginning not to rely on my signals exclusively, but use them as indicators to help you develop your own trading style along the right lines. I believe I have more experience and more practical knowledge of the markets than most people in these forums (I talk not of theoretical knowledge - there are many people out there who know much more about these things than I - I mean practical, hands-on, experiential knowledge of the markets, which is a culmination of the following: thousands of hours spent trading, analysing charts, synthesizing and testing new methods, reading ebooks and physical books, speaking to professional traders, studying forex training courses via online video course and document materials, even more elbow grease, sleepless nights, tears, emotional outbursts, frustration, anger, fear … you name it).
And now I am HERE.
I hope that using my help you will be able to accelerate your learning curve exponentially (as well as your profits) so that you too will become a profitable fx trader.
The time has not yet come for me to teach fx trading - but when that time comes a lot of people following this thread will be VERY happy people. Mark my words.
Best of luck with everything you choose to do,
M KN
PS> Thank you again for your kind words - really appreciate it!
Nothing againts you Mike, but it looks to me that lots of[B] people admiring you have just signed up to babypips[/B]
and they don’t just say " hey great trading ideas, thanks for the signals,…or something like that" but they explain
in details and are so keen about Steve Nison’s books. I don’t want to offend anyone but I know that no forex newbie has such an advertising attitude as they express to have here.
Please share your chart set up. You may have done so in one of your posts. If you have please refer me to the post number. I would like to see what you see. Thank you in advance for your assistance.
EUR/USD : Sell 1.2792, 1.2796, 1.2798, 1.2803 SL 1.2821 (these all came within yesterday’s trading),
Today’s trades: Sell 1.2797 SL 1.2821.
TP ------> We stay in these trades until tomorrow but can take partial profits or ‘temporary exits’ at 1.2567
GBP/USD: Sell 1.5980, 1.5984, 1.5985, 1.5987, 1.5988 SL 1.6010 (these all came within yesterday’s trading),
Today’s trades: Sell 1.5992, 1.5995 SL 1.6016 (1.6010 also valid although due to market gapping I am using the higher one for safety)
Tp ----- > At the moment it is 1.5927 (an hourly close below) although I am vigilant for a unique reaction that I have determined will force the market to continue dropping throughout the rest of today’s trading day, so stay tuned!
This is very commendable and clearly demonstrates your discipline.
