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05-20-2009, 10:54 PM
First of all, TRO, I don't get why you should have been banned from a
number of forums ! Trading forums (fora ?) are, presumably, there to
help traders, not brokers.
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Your method appears deceptively simple and, having just flashed up a
number of historical charts at random in the pairs I most often trade
(EUR/GBP, GBP/USD, EUR/USD), I can actually see a correlation between
your ideas and some quite profitable positions. There are a few losers in
there, too, but more gainers than losers.
If you've read my other posts at FPA, you'll know that I'm a dyed-in-the-wool
system 'sceptic' and what I want to know is WHY there is a correlation
between these profitable trades and the quarterlines (00, 25, 50, 75).
You look for corroboration of the bias of the 1hour and 1day directions,
which makes sense when looking to trade with the tide rather than
against it. Fair enough. (Elementary school, so far)
You are then identifying what is effectively a reversal in embryo (by waiting
for a change of candle colour), and only trading those which are both strong
enough to cross a quarterline AND which go WITH the defined bias.
Am I correct, here ?
Just trying to see your perspective a bit.
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Chris
Last edited by ChrisEccles : 05-20-2009 at 10:59 PM.
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