Can someone tell me a good method to be used for daytrading? Because my profit not consistent
buy low sell high, also good use of cross indicator signal confirmation is your friend although considering i have 10 separate indicators in 3 separate windows i may be doing it to overkill…
but you can never have enough cross confirmation of data, if they all tell you to BUY NOW, you usually cant go wrong with a buy order
also try and find ways of creating “self validating” indicator/oscillator sets, so you can see when the price is actually tracking an oscillator.
oscillators particularly have a problem that the price is only racking them half the time, so only about 50% of the signals are worth believing, and if your system isn’t self validating those signals your in deep doo doo
Search ‘’ Allien Extraterrestrial system’’ online, study all system thoroughly and you would know trading is not too difficult. I also did not having any system for trading but now i am successful and profitable.
And please note it will all be free plus any type of guidance.
Read Day Trading 2013 by Mathew Acnard. That book has allot to teach for earning using forex on daily basis. Mathew is professor at Stanford and had Worked as economist at United Holding.
Go to the 3 ducks thread
I’ve only been trading for a few years, but I agree with the last 2 replies. the best system keeps things simple i.e. 3 ducks, and read, read, read. I’ll never know everything about the markets, but I’m a sponge for good information. Hope this helps. Thx
Cannot find the book. Can you indicate where to find it?
Thx a lot!
One of the biggest things you can also do is set your goals/expectations to something realistic. As a new/learning trader, if you can even manage to earn 2% ROI per month over a year you’re doing better than 95% of the people out there. Try shooting for a 2% ROI monthly with drawdown no greater than 15%-20% and expand from there.
E-Mail me if you are interested in joining my team. We trade professionally.