Follow the big players.? Can u expand for a newbie. Where are the place I should be looking. Thanks in advance
In simple terms, the big players also known as smart money - look at the bigger picture.
Even smart money can get it wrong.
But you don’t need to be looking anywhere special, you will find everything you need on the monthly and weekly charts.
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HI . Hope i’m not responding too late only saw discussion now. Did you use the clouds levels to determine the yellow Support and resistance lines.
Not the cloud levels no. I use the Chikou Span.
This might help The £10K Gamble - [The Journey].
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Thank you. I "m busy now to try concept using clouds and boy it doesnt work. Do you often us ichmoku?
I’ve used The Ichimoku Cloud way back in the day, purely on the 4 hour/daily charts, and it was very profitable.
I then dug this strategy out of the closet for a few friends recently, as they were nagging me to teach them to trade, and its been very profitable for them as well.
Its nothing extraordinary, I believe its called The Ichimoku Cloud Breakout.
This is a good one for beginners.
Breakdown
- Use the 4 hour chart (for beginners).
- Use the Ichimoku Kinko Hyo indicator.
- Remove the Tenkan Sen and Kijun Sen elements.
- You should now have a chart with the Chikou Span and Ichimoku Cloud.
- Wait for the Chikou Span to pierce the cloud completely and enter the trade.
- If an uptrend it will be above price, if a downtrend it will be below price.
- Work out your own support and resistance to maximise profits, don’t rely on the cloud.
Uptrend
Downtrend
Entering somewhere towards the red arrows. Use your own position sizing and stop loss according to your risk.
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Interesting - Do you use Weekly to plot S&R and then trade H4??
If you’re referring to the above Ichimoku Cloud strategy then no, use the daily chart to plot support and resistance and trade the 4 hour chart.
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Was referring to your trades but all good - thanks for taking the time 
I’m done for the week, nothing going on today, no open trades. Friday isn’t the best time to open new trades when trading the weekly chart.
Final profit for the week stands at £983.12, a total gain of 9.83% for the week. And a total gain of 22.29% for the last 10 days (2 weeks).
Waiting for my Papa Johns to arrive, their delivery is slower than some of the slowest moving forex pairs.
Remember, when the majority are working, I’m not. When the majority aren’t working, I am.
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thank you. Do you agree with the following statement : That most off the common known Candle stick pattern’s are outdated and that patterns have evolved to the modern market. Most off the free information is no longer applicable? This comment was also free.
Thanks
I only trade one way and its this way, The £10K Gamble - [The Journey].
Everything starts with the bigger picture using the monthly, then the weekly.
I’ve never used candlestick patterns, but to answer your questions, yes.
there are good and bad s/r levels. learning to identify the difference will have your stop with friends more often than not.
Just a little summary.
Summary
Stats
I will admit I am a serial shorter. As you can see from the current stats 85% of trades were short.
ROI
The most valuable thing in life is time. Doing the maths, £2229.28 (profit) / 1.5 hours each week (time invested) = £743.09 per hour.
Remember in this game, every time you make money, there is someone just like you on the other side that lost money.
Say a little prayer for those losing it everyday.
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Following your formula, $4,750 in 22 days at 8 hours a day = around $26/hour for me. Pretty much like a regular day job I guess, except being able to take frequent breaks to play with my son as I trade from home.
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This makes it more than worth it then.
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yes he is an adorable 20 month old boy. I am seriously considering when I should start him trading hahaha! probably try to teach him around 3 or 4 years old
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It’s a good idea, no joke, get them coding or trading young. He will thank you for it later.
The majority of kids nowadays have oversized thumbs, sit in dark rooms and grunt.
The main reason, they spend all day in front of the idiot box or playing games.
My friends boy is 5 years old and knows how to programme in 2 different languages already.
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