Hello, for those of you day traders out there i have a simple question. How do you determine the trend of the day? I have heard some pretty wild ways, but was curious how others determine the trend, so you can trade with the trend, or trend is your friend.
Thanks
HI FRIEND…THIS IS SOME OF MY METHOD TO DETERMINE TREND…
I USE HH,LL,HL,LH TO DETERMINE TRENDS…DONT CONFUSE…THIS IS KNOWN AS DRAWING TREND LINES…
5 AND 10 EMA CROSSOVER IN 4h CHART…THERE R ALOT…
IF U WANT MORE INFO…GO TO SCHOOL…NOT JOKING…ITS TRUE…I DO EVERY THING WHAT MENTIONED OVER THERE…
Simple. Monkey see Monkey do.
If yesterday was a buy today is a buy on Day timeframe.
Yesterday a sell today is a sell.
I remember when I’ve posted the same question almost 8 month’s back in a thread and got a lot of help from the member’s and to tell you it helped me a lot in trading. I’m sure it will help you too.
http://forums.babypips.com/newbie-island/39634-pure-price-action-dummies-212.html
This will look very simple, but you will realise that you need PATIENCE to trade any method.
If you want o practice, you can use backtester, Where you can make trades, open and close, limits, its prety cool… Great for testing manual systems…
Follow this link, then go down to files, its a zip file, download, then open file, then put them in right folders…
1 for expert and one in expert scripts.
http://forums.babypips.com/newbie-island/33531-trading-simulator.html#post185189
a trend is a diagonal move.
yes it’s simple. if price makes an upward and diagonal move, then the trend is up. if downward diagonal, then it’s a downtrend.
practically, similar to what others said here. do not complicate it.
Pick the time frame that you trade (eg. 1hr), go to the next one up (in this example, 4hrs), draw a trend-line if you can & boom - that’s your trend for the day.
If it goes up, you’re looking for buy signals, if it goes down then you’re looking for sell signals.
Stick with the basics, here’s a link to the section of the school that covers it - it’s only a few pages long so it’ll take a few minutes to look over.
Some people use moving averages to determine the day trend.Personally,i think a breakout strategy is the best.A breakout above the high(resistance) or below the low(support) determines where the traders will be heading towards for the rest of the day (most of the times).
Man, Thanks so much folks! I never thought I’d get so many great responses, thanks to all!!!