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This site is currently inactive as I have decided to move away from exclusively trading Forex in 2010 and as such will not be taking on new coaching clients in this area.

 



I have resumed my focus on coaching as a stock market mentor where I run a success guaranteed stock trading mentorship program

 



Additionally, you can now get access to what I consider to be the best stock options trading alert service.

 



Of course I am biased and with a success rate fluctuating between 68.2% and 72.4% it is hard not to be biased.

 



If you do want to follow along with what I am doing every day you can get access to my dail stock market report 

 



Until next time


happy trading 


Mr Phil Newton or on LinkedIn Phil Newton trader

Week Comm 20 march

Natalie's picture
It's usual to start the weekly thread with some kind of analysis but i'm going to kick it off with some other thoughts... A great deal of discussion has gone on regards set-ups like 123's, 2b's Asian range breaks and so forth from very much an intraday perspective. I'm sure there are many people getting to be very fammiliar with these types of set-ups and I'm equally sure that spike or pin bars are starting to become familiar and double tops/bottoms - double touches. I suspect people are starting to get the ideas about Geography as well i.e. where the main s/r's find themselves, fibs (I'm sure most people are better at using those than I am) and so forth. Buk and Anna constantly repeat over and over that the longer perspective is a much better/safer one than clipping intraday. I've repeatedly said that clipping intraday is hard work with much higher risk ratios than taking the longer term perspective. Has anyone actually considered that ALL these patterns work well at a 4hr/daily level? or that by adjusting size and using the same types of scale model they can get trades away that can run on to take 3/4/5% profits out over a periods of days rather than hours? How many people can actually see the bigger picture looking mostly at 1/5/15 min charts? Few I would hazard. I would suggest that a good exercise that would help many folks would be to load up zoomed out daily and 4 hr charts across all the crosses available (ignore what spreads might be for now) and just look at them. It might be a slower appraoch, but it does open the door to all manner of money management techniques that work far better in longer timescales than they do in short term ones. Much is said about patience and good planning. Working primarily off these levels requires patience and good planning, but by applying those attribues the rewards will follow...