i think therefore I trade

I see one key ingredient is missing; the trigger as I take transactions with my systems. Though my trading platform would allow me to know when to buy or sell, it doesn't tell me the optimum entry. That's when I realize I lack the trigger aspect of my system. Usually a trigger comes from looking at a lower time chart. For instance, if you're doing technical analysis on the daily chart as well as your own body has a signal, you have to look at the lower time frame (8hr, 4hr, etc.) for the trigger. If the price in the time frame breaks a pattern in service of your daily analysis, then that's the place you buy. Before you start the position you may also await a same system confirmation in the time period.

Another important point about looking to the reduced time frame is that you would usually get a superior risk/reward ratio. You're ready to determine lows and the highs at the lower time period and be in a position to set the stops there; something that isn't apparent by looking at only 1 time period.

Another important observation I had is that of the indiors we have, none can match the power and precision of celebrating the price action. Within this trading world, trading patterns have been dominated not by mechanical calculations, but from the activities (consequently plogy) of the traders. It's simple to draw on a fashion lines on the price chart and see where these traders decide when the times would be to sell and buy. Sometimes these amounts do not even coincide with the logic of this fundamental news. Thus proving that traders occasionally are absurd and act on impulse.

Hence my systems are restricted in functionality in this very dynamic market. And as time goes , more and more traders would get into the game consequently leaving this market more volatile. I believe the defects with my system comprise not just the absence of activate (I just look at daily charts) but trying to contain the market action inside a really rigid set of principles. For instance, in order for me to buy in my range method, I must wait for several of confirmations. The price has to shut lower the SSKgt; SSD, than the deviation, and SSK lt;=30. These set of ailments don't occur too frequently. A lot of times I would miss out motions since I had follow my systems to the letter.

Declares that following one's systems with discipline and patience does have its own merit, but if you realize its defects, you need to revise it or even abandon it. It's a similar situation to somebody who isn't able to follow any system that is particular as a consequence of his impatience for profits since you follow a method and you don't do anything to alter it. I believe that's become the case with me because I had used the systems for a while with profits, I fear that revising or left handed the systems would make me undisciplined.

So today I am at a determining point where I must regroup myself and focus on shing my trading habits. Some of the changes I have in mind is to perform analysis on the weekly chart and enter into positions (activate ) on the daily chart. I would just focus on simple techniques of celebrating price action like fashion lines and noting support and resistance levels. The indiors that I would use would be just BB bands and moving averages. I want to maintain the chart less cluttered and easy. And finally I intend to exchange all of the majors as well as the crosses total of (18 currency pairs). I plan to apply these new changes.