In the language of marketing, every person is a product as long as he or she can make profit from trading. So, it’s essential to turn a person a product. To do so, traders should try to innovate new strategies to catch the market’s trend because a trader cannot make advancement in trading without knowing the actual market trend.
For long term traders, e.g weekly, insert a 200SMA trend line and follow the doctrine of buying above and selling below. Most, if not all, institutional banks follow that principle.
agree with your terms.
I respect the emphasis on trend. Its the most important TA you can do.
No its not
Yes that can be true but you also have to be aware of trends on different timeframes. No good knowing the monthly trend if you’re on the 5min trading. I think knowing market structure in relation to your style is much more important
Its obvious that we could continue this exchange with me saying trends are important and you saying they’re not. But how would that move the conversation forward?
The context is that I have stated numerous times all over this website why I come to my conclusion and how trends can be profitably used in trading. Therefore I invite you to post why you hold the opinion you do and to also post somewhere how you trade.
Tommor
Why do trend seekers choose Forex ???
I’m happy if I break through two strong resistance levels on the daily charts is this classed as a trend ?
You said trends are most important, that is not true. Just pointing out an incorrect statement, instead of getting salty get to work to improve your understanding because it is lacking
Hi,
For the sake of value, I just have to say that I am in support of my colleague @tommor. A while ago I read some of your contributions and concluded that you offered absolutely zero value to new or seasoned members of this forum. Unlike @tomorr who offers a high level of value. I asked a psychologist friend of mine how he would characterize you from your posts. I will not repeat the conclusion but suffice it to say that it was not complimentary.
I genuinely wish to provide content of use to other members, I appreciate the efforts of those who do and I do not like comments such as yours that only serve to distract members from getting on with the business of learning about forex investments, not reading useless content.
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Trend is the most basic, simple, powerful and important TA feature to be found on a chart.
All trade entries are more productive if they follow a continuing established trend or establish a position in a new trend. Trend-following positions uniquely allow pyramiding which technique aims to maximise return without increasing risk.
As far as our points of view are concerned, I can only say again that I have posted numerous times many details concerning the value and tactics involved in the use of trends. if you favour alternative techniques - which do exist and which do have value for trading - I am certain that many traders using this forum would benefit from your knowledge of the techniques you are using. So far you have been reluctant to say anything much about what you do and I think we are all the poorer because of your decision.
Rather than repeating a simple opinion that I am wrong and you are right, you could take the debate forward and evidence why you come to that conclusion.
I’m sure its good evidence but not conclusive alone.
I was actually curious why Forex ?? Most traders I would imagine focus on the major indices and stocks and shares . I meant holding a winning trade not an indication for a strong trend .
You generally close a trade after 3 strong daily bulls don’t you work off the monthly bars ??
There are plenty of trends in forex. Not many last as long as in stock markets but that’s not really a problem. Some are comparable since there is a significant positive correlation between risk-on currencies and global stock markets uptrends, which is their normal condition.
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I can’t see the added value from tracking monthly charts for trends. Do you put a lot of dependence on them?
Yes because I put a strong emphasis on support and resistance through the time charts .You can get an idea on the ranges within the months and say how the month liquidity is gathering.momentum.
Although I rely most heavily on the 50EMA, which I suppose in a way represents price movement over about 2+ months, I tend to confine my view of market action to the last 3 months at most, using D1. Reasoning is simply that the more recent price action will have the greater effect on prices for the next 3-10 days - if I’m tootling slowly and cautiously down a wet and dark country lane does it matter that I took the motorway in 6th gear to get there?
And as the actress said to the chartist, I have to draw a line somewhere.
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Ha ha ,
you using another side of your brain these hours tommor
Sorry to be negative lol, but on the monthly chart GB/ EUR one of more favourable pairs still has nt broken out a six year range