The best indicator!

Thanks, Corbie. If you made 50% profit in a week, then your strategy is definitely one you should stick with and keep implementing with your trades.

Pigs bum. 50% in one week at this level means over use of leverage and or over trading. Both will blow up your account sooner rather than later. Go back to the junior league son, when you grow up you can come play with the big boys.

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50% is a huge percentage, unfortunately a small amount of money though :slight_smile:

It’s off of one trade, and my stake was 10%, so a ‘bit’ on the high side for ‘real trading’.

This is the trade…

AUDUSD, weekly support and resistance chart.

You can clearly see it’s a significant level.

Then on the daily chart you can see that you can get in close to that level with tight stops.

Sometimes the market doesn’t come back close to the level, in which case I’m not bothered, I can’t put enough lots on to make a decent profit, better to wait for another. When it does, then great, you need big profits on your winning trades, and using only the levels on your weekly chart keeps you out of more losers.

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I think I need more workout in understanding the chart. And about the market direction, it’s really tough.

It is very true that finding the right or perfect broker here is the very tough task to do. But I think you should mention what kind of trading platform and tools, spreads, the leverage you expect from the broker. Also, what you have to deposit!

Yes, I also like moving average! It shows dynamic S/R levels.

What nonsense.

S/R levels are formed by (and clearly shown by) price movements, not by indicator movements.


Indeed, but it’s staggering how many people seem to have difficulty grasping (or accepting) this fundamental truth.

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I think they’ve invented the term “dynamic S/R levels” to try to justify their twisted beliefs, too! :grinning:

Yes I know price movements are the key, but EMA20 helps me to purify the market trend with the horizontal lines in my D1 trading chart.

Thanks, for the clarification. S/R levels are formed by price movements, not by indicator movements.

There are so many truths revealing one by one when we ask questions here.

In order to me, traders should choose the broker which is more appropriate to the concept of trading that will be used , if you love doing scalping of course should choose the broker which allows trading concept such as this. otherwise trading life could fall a great trouble.

But I heard that regulated broker do not allow scalping. But, this is true that scalping is best for the novice trader to earn a profit. All the things here are contradictory.

Actually, scalping is the worst possible way for a novice to earn a profit.

Scalping requires all the same skills as other forms of trading, but requires that you execute those skills in a compressed time-frame. In addition, your transaction costs are higher (more trades, smaller movements), so you need to be even better at scalping than you would need to be in another form of trading in order to be equally as profitable.

The only reason to scalp is because it is most suited to your personal circumstances or your psychology. And neither of those things changes the fact that you will have to outperform other traders for the same profit.

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That’s because you’re being “advised” by people who don’t really understand what “scalping” means and they don’t really understand how brokers work, either.

Nearly all the “information” you’re getting here is ill-informed and misguided.

Not surprisingly, most of it’s actually misinformation, because the people posting don’t really know what they’re talking about.

As so often.

If you want to see a few factual posts about scalping, which contain accurate information, here they are:-

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Very sorry to say that I agree with this. :confounded:

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Yes , mostly regulated broker are not. That’s why newcomers don’t feel comfortable at any regulated platform. Actually their trading environment is not suitable for any kinds of retail traders.

Thank you very much for describing scalping and the advise that scalping is the worst possible way for a novice to earn a profit.

Scalping can be profitable for sometimes not for all times at all. so depending on scalping is not a good decision. It can make you loser