Technical analysis and watching youtube videos helped me discover newer approaches and apply them on the market.
Reading public forums is a bit sad, everyone truly believes they can find an edge, but everything you will see is trying to trade pennies from other retail traders.
Take a look at the candlestick teacher post, it’s a classic example, you need to follow the smart money, institutions, Buffett, Market Wizards.
For example I can tell you one of the market wizards who scalped said they use it for direction and make their money swing trading, I can confirm that works.
You daytrade for profits but in doing so it finds you the large swing trades, exponential growth of capital, if you search for a big win, the way you are taught in life, it will not have a happy ending.
I was writing somewhere else, the markets have found a way to induce flash liquidations without causing a market crash, we’ve had to develop some truly fancy code to work around it.
You will see the outcome in the months ahead, the less profitable you are the longer it will take to see it, which is why we see it before anyone else.
The key is not making direct profits, it’s avoiding liquidations of trades, of capital while layering profits over the top, and even with that a flash liquidation event will come along, normally associated with a crash so you get a pre-warning.
That’s the new dynamic, liquidations without market corrections, it’s masterful 
- Focus on the methods that I excel at
- Always ensuring I have a clear reason to enter a trade
- Regularly backtesting my strategies before entering my trade.
Over what amount of time would you consider a prevailing long term trend? A trend over a few weeks, months, years? Thanks
I use some very basic criteria to decide a chart shows an uptrend which is worth trading -
- price is above the 50EMA
- 20EMA is above the 50EMA
- current weekly bar overlaps with not more than the 3 preceding weekly bars
- current swing chart direction is upwards, i.e. price has closed above a recent swing high
I also ensure that the currency I want to be long on is strong across most of its other 6 key pair charts and the currency I want to short is weak across most of its 6 other key charts.
You will see that my criteria take some time to develop - it can definitely take several weeks for bth price and the 20EMA to get abnove the 50EMA if price had been downtrending. And in the past I used to count how many weekly closes were above the 50EMA - but to be honest, the duration of the trend is not a reliable indicator that it will continue so I no longer track this.
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