Trading NR7 setup

[ag_fx]

Yup Scorpio bro, I am 25 year old kid with a billion dollar dream (anyone could laugh on this but will try my every best to achieve it and may be I have found my way)..

Anyways thanks for your consistent help....Please keep guiding me going forward.....

Let them laugh over you buddy.....You will laugh all the way to your dreams......

I am a younger kind than you..and pretty much similiar dreams....We'll get there one day for sure :thumb:

 

[WOD]

Yup I will....
Meanwhile I was thinking about the fact that how many well-wishers, talented, experienced, smart,knowledgeble, helpful and never-say-die attitude friends I have collected here in TJ...wow there are atleast more than 10 name I can think of......how lucky I am !!!!

Thanks everybody....you all roks....alright time for me to study another aspect of TA i.e trading divergences........

 

[WOD]

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[lazytrader]

HI WOD,

Appreciate your enthusiasm, drive and commitment. Looks like you are young and ambitious! Do watch out for over-trading as tracking too many indicators will tend to trigger one or the other signal. At the end you end making your broker richer!
Speaking from experience! Hope it helps. All the best wishes!

Cheers!

Scorpio

I thought of saying exactly this but held back.
A very valid point by scorpio.

I remember the time when I was on a learning rampage.. I read anything and everything related to TA and experimented with it (paper trading, curefitting, backtesting and more) at the end of it all I couldn't make head or tail of the mess.

I simply took a break and started all over again. It kinda sucked me into it. The more you read the more you want to read and it keeps getting interesting. I find the fibonacci, elliot waves and stuff facinating specially when the are applied to read stocks and watch them actually work. But as they say too much of a good thing is bad.

So take is slow and make sure you are well versed with what you know so far and build on what you have and regularly backtest your strategy. One thing I think I should mention is once I start reading a different method or strategy it affects my trades. I try to apply to thing to a single trade and it all goes haywire. So deal with them one by one. Remember, there is so much to learn you may spend the rest of you life learning. :thumb:

 

[WOD]

I thought of saying exactly this but held back.
A very valid point by scorpio.

I remember the time when I was on a learning rampage.. I read anything and everything related to TA and experimented with it (paper trading, curefitting, backtesting and more) at the end of it all I couldn't make head or tail of the mess.

I simply took a break and started all over again. It kinda sucked me into it. The more you read the more you want to read and it keeps getting interesting. I find the fibonacci, elliot waves and stuff facinating specially when the are applied to read stocks and watch them actually work. But as they say too much of a good thing is bad.

So take is slow and make sure you are well versed with what you know so far and build on what you have and regularly backtest your strategy. One thing I think I should mention is once I start reading a different method or strategy it affects my trades. I try to apply to thing to a single trade and it all goes haywire. So deal with them one by one. Remember, there is so much to learn you may spend the rest of you life learning. :thumb:

Yup...I am gonna stop learning anymore TA concept for atleast next 1 month....

Next complete one month I am gonna play around only SMAs, EMAs, Stochostic, NR7, fibonacci and divergence trading; thats it......I will try to build my systems around these....

 

[bunny]

WOD,
I don't want to add to your confusion, but do play around candle sticks too.

Moving averages systems are lagging indicators. They can tell you how price has behaved in the previous sessions, but are not that effective at telling how they will behave in forthcoming sessions.

 

[WOD]

WOD,
I don't want to add to your confusion, but do play around candle sticks too.

Moving averages systems are lagging indicators. They can tell you how price has behaved in the previous sessions, but are not that effective at telling how they will behave in forthcoming sessions.

Thanks.

Do you want me to suggest playing around chart patterns(channels, triangles etc), candles stick patterns(Doji, hammer etc), IB and more?

 

[lazytrader]

Wisdom, it is said, knowing what you don't know. So I wouldn't say stop learning altogether but slow down on learning and spend more time and practicing what you have learnt. as and when you find voids in your system you can start adding supporting indicators etc.

 

[lazytrader]

Don't mind his comments WOD. Bunny is perhaps the biggest candlestick fan I've seen.
In my list, bunny's name would be right after Steve Nilson.

 

[bunny]

Fine, play with whatever you pleases you.

http://www.hotcandlestick.com/candles.htm
http://thepatternsite.com/CandleAlphabet.html