ash commented on Keith Shaw's blog post Trading Vs Gambling Revisited : An Interesting Short Article by Sam Seiden
ash left a comment for ash
Peter jcp left a comment for ash
ash left a comment for ash
Peter jcp left a comment for ash
Peter jcp said… hi Ash - i think first read the Fib blog and the article on page 3 or 4 by Spiro about a letter addresses to Dear Michael. That explains very clearly all about trading - It is not simple and takes ages to learn.
Then first thing to make it easy is to get a set up with 1 /3/5/10/30/45/60 min charts and place a simple 35 and 55 Linear regression indicator on all charts along with a RSI at 2 settings - and then on one pair watch it for 2 days and tell me what you find - speak to you soon regards Peter
ash said… Hi Peter,
Thanks, much appreciated.
I will check it out!
Ash
Peter jcp said… Hi Ash - i need feedback from you on how you are getting on /
I am pleased you have started to watch the different charts and try and see direction with the linears and looking for points to take buys and sell. In a swing market the 30min + charts will be showing the directions easier but for ranging like today you want 1-5mins and being ready for changes every 10-30 pips and evry 30 minutes in time or so.
The idea of the RSI is to show when pairs are oversold or overbought - check out more on google - you might think it moved say 50 pips down and every thing says lower and then suddenly it bounces back up 20 pips - that is because it is oversold and the rsi on 10 min would be at the bottom ready to turn
I think you realise you will need to watch all small farmes for at least 4 hrs a day to see how they move and interact - the key to become good is following what happens and learning for another time - it take time and study - it will not all com etogether in just a few months - but over time it will all click into place . Keep learning - all the best Peter
ash said… Hi Peter,
Thanks for info, I'm spending a bit more time studying charts now, instead of seeing where I should jump in. Will let you know when I have questions :)
Been busy yesterday, so will have a look more later. Catching up on work today :)
Cheers
Ash
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