i have funded 500$ , what amount should i aim for everyday?

[Piratetrader]

Like I said before, don't rush it. This thread has not even been open 1 month. Regardless how long it takes you, you'll look back and be very happy you took the time. I made so many mistakes and messed up so many times 7 years ago, but it was still worth it.
FYI, I still make mistakes, and the learning never ends.

Yes i'l be happy when i'l look back at this threat after some years! at that time maybe i will be teacher :rofl:

 

[Piratetrader]

SIR could you please tell me at what period is your SMA set to? mine is set to 100 but is not sutiable for day trading!

 

[4xpipcounter]

I don't use MA's.

SIR could you please tell me at what period is your SMA set to? mine is set to 100 but is not sutiable for day trading!

 

[sanjosedesi]

SJD, whatever I implied, I didn't mean to. I never had you in mind.

I know, don't worry. I bet there are many learners like me and it applies to them all.

 

[4xpipcounter]

Saif, as an additional study guide for you, I would go to my thread and just study my Weekly Forecast and Reviews. My WR is already out from last week, and I am working on the WF for this week. This may help in seeing how I use the different aspects of my methodology to derive my analysis. The WR is simply a review of how the previous week's forecasts had done.
At the end of the year, I will have everyone of them featured in a PDF file.
Saint doesn't know it, but I got the idea from him.
Thanks, Saint, if you are reading.

 

[sanjosedesi]

I don't use MA's.

To add to that, I would suggest Saif to visit the thread 'Some of my forecasts' by Paul, and see comment #799. This is an extract. I think everything is public except #4. And I will be that 95% of the time Paul can get by with just these and not have to worry about bollingers or MAs and what not.

This is why I use:
1. Stochastics-- For me it is a very good momentum indicator.
2. Ichimoku-- It locates a trend and key chart S&R's.
3. Trendlines-- They tell me early when the trend has officially switched.
4. My proprietary S&R's-- They measure the trend's range within any time measurement. You can give me any 4-hour chart with the values on it, and I can prove it.
5. Standard deviation channel-- This measures the potential explosive reversal within any TF.

 

[4xpipcounter]

SJD, you are 100% right in everything you said
As you know, my levels are always available for anyone upon request and I usually post the weeklies for the 11 major forex pairs, along with the 4 Indian markets. In addition, this is why I have suggested of late, to consider one of the static S&R's. IMHO, they are not as good as mine, but they will still do an excellent job, and to apply the methodology I use on my S&R's on those others would be worth the experimentation.

To add to that, I would suggest Saif to visit the thread 'Some of my forecasts' by Paul, and see comment #799. This is an extract. I think everything is public except #4. And I will be that 95% of the time Paul can get by with just these and not have to worry about bollingers or MAs and what not.

This is why I use:
1. Stochastics-- For me it is a very good momentum indicator.
2. Ichimoku-- It locates a trend and key chart S&R's.
3. Trendlines-- They tell me early when the trend has officially switched.
4. My proprietary S&R's-- They measure the trend's range within any time measurement. You can give me any 4-hour chart with the values on it, and I can prove it.
5. Standard deviation channel-- This measures the potential explosive reversal within any TF.

 

[Piratetrader]

hello sir, first i always keep an eye on your weekly forecast this time u eur/usd could be headed to 1.4237 and more below if in in case it breaks 1.4600 it would make a really quick trip to 1.4900. BUT SIR WHAT IS WR2 ?? here is a chart just want a yes or no from you! according to me here the price and the oscillator are diverging from each other. price is going down making a very small lower low, but the oscillator is making a higher low it was indicating a bullish signal and it did go up!

 

[4xpipcounter]

WR2-- 2nd weekly resistance.

Your question is not a yes or no answer. The answer is "yes", but I would do you an injustice if I stopped there. It is a very weak divergency. If you formed that reading with other parts of the methodology, then you could have used that to form a decent entry.
These are types of entries that are good to try and place them on your demo just to see how they work. Another thing is to confirm that with the next TF, and in this case it would be the 4-hour.

BTW, this is also what I mean when you may recall me using the term the rear view mirror. These are also the setups on paper that sell e-books and have people flocking to web sites to try and prove how easy trading is. This is why the best thing to do is simulate your setup in a live trading situation, albeit a demo.

hello sir, first i always keep an eye on your weekly forecast this time u eur/usd could be headed to 1.4237 and more below if in in case it breaks 1.4600 it would make a really quick trip to 1.4900. BUT SIR WHAT IS WR2 ?? here is a chart just want a yes or no from you! according to me here the price and the oscillator are diverging from each other. price is going down making a very small lower low, but the oscillator is making a higher low it was indicating a bullish signal and it did go up!

 

[Piratetrader]

thank you, i read about that in babypips! so i was looking at the charts trying to figure out where did it occur ! so i found out this diverging on the recent price, yes sir it is a very weak divergency. !! but as your answer is yes that if the price is making a higher high but the oscillator is lower high , then it is a bearish signal. If price is making lower lows but the oscillator is making higher lows you have bullish signal!! moreover i readbut there are some hidden divergence as well i will understand that today in babypips! i will need to test these things live on demo! i will do it with great dedication!