Price action with Candlestick Analysis(No indicators)
- Thread starter hik
- Start date
Yes iam fine. Im busy these days since im taking care of my business(forex).
Also Not able to access internet for most of the time. It will take one more week before i settle some issues and start posting.
The reversal entries are working very good. But there is some problem with retest entries due to gaps in stocks!!.Im thinking of using an indicator as a confluence that lets me enter the trend multiple times and profit from it,But Since i have decided no indicators in this thread , we will keep this thread clean. The particular indicator when used with support/resistance on a daily chart is giving perfect entries . And we already know about exits. I cannot reveal the name of indicator yet because it takes lot of forward and backtesting. Instead of entering the reversal trades on weekly charts with very huge stoploss , we can enter by using the indicator on daily chart. The reason why iam not dicusing the indicator is that the same history will be repeated by traders again . Forgetting key levels and following indicator blindly. I will do a forward test of 50-100 days and backtest of 1 year using that indicator as a confluence to support and resistance. It needs a whole new thread and lot of time.
However the candle stick patterns and support/resistances are still the building blocks of any trader . We will continue this thread as it is.
The retest and reversal are doing great in forex , due to flexible position sizes it is possible to trade those. But in futures the positon sizes demand huge stoploss with these methods.However I stand on my initial position that for an investor who wants to hold 2-3 months and swing trader who wants to hold 1-10days these entries still work well .
Some of the principles mentioned in this thread can be used by amatuers/professional traders in deciding the future trend of the most of the stocks. Those principles will eliminate most of the mistakes done by traders.
Please keep posting and learning them .I will do the same
Also Not able to access internet for most of the time. It will take one more week before i settle some issues and start posting.
The reversal entries are working very good. But there is some problem with retest entries due to gaps in stocks!!.Im thinking of using an indicator as a confluence that lets me enter the trend multiple times and profit from it,But Since i have decided no indicators in this thread , we will keep this thread clean. The particular indicator when used with support/resistance on a daily chart is giving perfect entries . And we already know about exits. I cannot reveal the name of indicator yet because it takes lot of forward and backtesting. Instead of entering the reversal trades on weekly charts with very huge stoploss , we can enter by using the indicator on daily chart. The reason why iam not dicusing the indicator is that the same history will be repeated by traders again . Forgetting key levels and following indicator blindly. I will do a forward test of 50-100 days and backtest of 1 year using that indicator as a confluence to support and resistance. It needs a whole new thread and lot of time.
However the candle stick patterns and support/resistances are still the building blocks of any trader . We will continue this thread as it is.
The retest and reversal are doing great in forex , due to flexible position sizes it is possible to trade those. But in futures the positon sizes demand huge stoploss with these methods.However I stand on my initial position that for an investor who wants to hold 2-3 months and swing trader who wants to hold 1-10days these entries still work well .
Some of the principles mentioned in this thread can be used by amatuers/professional traders in deciding the future trend of the most of the stocks. Those principles will eliminate most of the mistakes done by traders.
Please keep posting and learning them .I will do the same
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| R | Price Action Analysis | Trading Diary | 64 | |
| P | Ytc price action trader pdf | Technical Analysis | 3 | |
| N | Practicing Equity Swing Trading With Only Price Action Analysis | Swing Trading | 22 | |
| T | Nifty Intraday Price Action | Day Trading | 11 | |
| P | Hello my fellow traders & price action enthusiast | Introductions | 1 |
Similar threads
-
-
-
Practicing Equity Swing Trading With Only Price Action Analysis
- Started by ncube
- Replies: 22
-
-
Hello my fellow traders & price action enthusiast
- Started by PriceActionChart
- Replies: 1