Now I am starting to see the value of a system along with technical analysis and knowledge of forex. I see trade opportunities all the time but I don't take them because I don't have confirmation. When trading, things can get harry as far as my feeling about when to get in come up.
When I do my analysis I have a good idea of where I want to buy and sell, I only buy/sell at pivots. So this is a good point of referrence and I will keep this. I like to see "confluence" at these price levels, "confluence" being a moving average crossing the pivot and acting as support/resistance, indicator showing divergence in the direction, indicator crossing the 0 line. This has helped me.
I think I needed to see how the moving averages worked, or believe in them. I see now how important following the rules are with the EMA's. on the 60ema with technical analysis and buying and selling at pivots, the EMA can act as a great entry point when in confluence with other evidence. It really does work though.
I've also added a 200SMA and 800SMA, I'm observing those to see how I can plan trades around them. I notice that the 800SMA is very reliable. Price always seems to come back to this, I still need to just watch the market to put together a way to trade with them.
I digress. The point I was getting to is, I'm taking profitable trades but I need to have some set rules so that I go in and do the same thing everytime. As of right now I have a quasi trading system. What I will do now is focus on THV as far as the Trix Indicator and the Coral line, I do not know if I want to use the henkiashi candles (Sorry if this is miss spelled). I want to use the trix,coral,pivots as my line in the sand.
I really like the 200/800SMA 60EMA set as well. I may try to form a trading system with some rules around these. Combined with pivots it looks like there is a lot of potential. I've started trading on my FXCM Micro account and I'll post my results at the end of the month.
I'm getting closer to having a complete system, it maybe that I'm just learning how to utilize the THV system...I could be just doing it bass ackwards. I think it's important for traders to sew their wild oats, go out and just try and make trades based on what they see. It gives a point of referrence.
This is definitley a journey. I've been making okay decisions I just need to refine and become diciplined.
When I do my analysis I have a good idea of where I want to buy and sell, I only buy/sell at pivots. So this is a good point of referrence and I will keep this. I like to see "confluence" at these price levels, "confluence" being a moving average crossing the pivot and acting as support/resistance, indicator showing divergence in the direction, indicator crossing the 0 line. This has helped me.
I think I needed to see how the moving averages worked, or believe in them. I see now how important following the rules are with the EMA's. on the 60ema with technical analysis and buying and selling at pivots, the EMA can act as a great entry point when in confluence with other evidence. It really does work though.
I've also added a 200SMA and 800SMA, I'm observing those to see how I can plan trades around them. I notice that the 800SMA is very reliable. Price always seems to come back to this, I still need to just watch the market to put together a way to trade with them.
I digress. The point I was getting to is, I'm taking profitable trades but I need to have some set rules so that I go in and do the same thing everytime. As of right now I have a quasi trading system. What I will do now is focus on THV as far as the Trix Indicator and the Coral line, I do not know if I want to use the henkiashi candles (Sorry if this is miss spelled). I want to use the trix,coral,pivots as my line in the sand.
I really like the 200/800SMA 60EMA set as well. I may try to form a trading system with some rules around these. Combined with pivots it looks like there is a lot of potential. I've started trading on my FXCM Micro account and I'll post my results at the end of the month.
I'm getting closer to having a complete system, it maybe that I'm just learning how to utilize the THV system...I could be just doing it bass ackwards. I think it's important for traders to sew their wild oats, go out and just try and make trades based on what they see. It gives a point of referrence.
This is definitley a journey. I've been making okay decisions I just need to refine and become diciplined.