Busy with old trading method which is I am not proud of. Now after the party is over I am back to the drawing board.
I have been neglected the harmonic pattern for a while because I think it is more suitable with long term and diversified instrument like stocks. My next project will be converting local stock market into harmonic pattern analyzer which is challenging for me.
Meanwhile for forex market I am looking for sentiment analysis. I think to be in touch with market sentiment is very important. Combining it with Pivot Trading will become a quite prospective method.
Keep ditching and looking for new method and it is almost 6 months on and off demo account and surprisingly all the demo is profitable, whatever method I use. Now the one I am looking for is the most logical way of trading which is market sentiment.
I subscribe the news feed to keep updated with market condition and so far the analysis is very good. Italian crisis, Trade War, Brexit, everything is very important. For example last news about Brexit which is near deadline and there is no sign of a deal. Market already rally last week in the hope of the end of Brexit solution and then come possibility of extended time of the deal, also there is a threat of cabinet walk out if no deal happened. This is not good and I should short Sterling. Next step is to find strong currency which is happened to Yen. Trade War and US stock market tank is a good sign of safe haven currency. Then we should short the GBPJPY.
Before that I short EURAUD with the Italy Crisis and AUD already very oversold and also have the Pivot Point Gap. Should use EURJPY but anything works is fine.
Final word, I will keep honing the skills reading market sentiment and I will update with the progress later.
I have been neglected the harmonic pattern for a while because I think it is more suitable with long term and diversified instrument like stocks. My next project will be converting local stock market into harmonic pattern analyzer which is challenging for me.
Meanwhile for forex market I am looking for sentiment analysis. I think to be in touch with market sentiment is very important. Combining it with Pivot Trading will become a quite prospective method.
Keep ditching and looking for new method and it is almost 6 months on and off demo account and surprisingly all the demo is profitable, whatever method I use. Now the one I am looking for is the most logical way of trading which is market sentiment.
I subscribe the news feed to keep updated with market condition and so far the analysis is very good. Italian crisis, Trade War, Brexit, everything is very important. For example last news about Brexit which is near deadline and there is no sign of a deal. Market already rally last week in the hope of the end of Brexit solution and then come possibility of extended time of the deal, also there is a threat of cabinet walk out if no deal happened. This is not good and I should short Sterling. Next step is to find strong currency which is happened to Yen. Trade War and US stock market tank is a good sign of safe haven currency. Then we should short the GBPJPY.
Before that I short EURAUD with the Italy Crisis and AUD already very oversold and also have the Pivot Point Gap. Should use EURJPY but anything works is fine.
Final word, I will keep honing the skills reading market sentiment and I will update with the progress later.
I learned the hardway that trader need multiple tradings style that ADAPTING changing market. FLEXIBILTY and consistencey are the key. Some seem good advices in the internet pointing the wrong ways
ReplyDeleteThere is no good advice or bad advice. Only learning, inspiration, and motivation material. Thanks for coming @TST
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