Greetings all,
My name is Dr. PIPs, what better ways to pass time in a slow market than to learn and refine your technical trading skills huh?
In this thread I will be exploring various techniques of TA, most of it created not by myself but by a famous technician named Tom Demark ( no this is not an advertisment to sell his books )- [I][U]we will be exploring entry and exit opportunities as the market presents itself.[/U][/I]
most of what he taught will be shared here. althought you should really get a copy of his book if you want to learn more.
I have been live trading the forex market for five years to date. I have experimented with many systems out there and have created several of my own, the problem is all the trading systems are based on indicators which in my perspective are all lagging and have limited value in the most dynamic market in the world. In the world of Forex, where you will fall in love with one Fad, a new indicator and new system after another. IN a full cirle, one will gradually find that the simplest methods are often the best ones.
In my experience, every and any good system will confluence to give you the same information, none is really better than another.
currently , I am using no more than simple trendlines, price action and sometimes a simple oscillator , and I have been consistently profitable.
Some of this will be sharing simple drawing of trendlines and breakouts , nothing more, yet the results it yields will be far better than one with a million indicators and lines drawn across a ilegible computer screen:D
Combined with proper discipline, trading with the trend, having a disciplined plan, diversifying , cuttiing losses short, letting profits ride, using adequate capital and having patience.Anyone can be a profitable trader
please see attached rules below