Stock market collapse in November

[Diestl]

I think Santa's system works because all investment bankers use automated trading systems based on technical analysis, which make it self fulfilling prophecy.

Ah ok, I didnt know that, now we can all get rich!!!!

[SantaClaus]

I think Santa's system works because all investment bankers use automated trading systems based on technical analysis, which make it self fulfilling prophecy.

It works because price has a memory, even going back 10 years.

[DimPrawn]

It works because price has a memory, even going back 10 years.

Eh? Sounds like homeopathy.

[Diestl]

It works because price has a memory, even going back 10 years.

I agree that there are some prices like round numbers that have strong reactions but it can be difficult to predict that reaction

[SantaClaus]

I agree that there are some prices like round numbers that have strong reactions but it can be difficult to predict that reaction

Yep, round numbers have a reaction.

Now combine the round numnbers with a level on the higher timeframes where price has rejected 3 times and a fibonacci retracement or two and the odds are stacked much higher in your favour.

Then use a 15minute entry technique to get you into the trade and aggresive risk management to get your risk out of the trade quickly.

Aim for a profit target at least two or three times what you have risked (based again on support/resistance levels).

And only take trades that present the above opportunities, stalking them like a hunter.

And thats how you do it! But of course, with years of practice and a little intuition.

[AtW]

Now combine the round numnbers with a level on the higher timeframes where price has rejected 3 times and a fibonacci retracement or two and the odds are stacked much higher in your favour.

[SantaClaus]

Well, I did say it will take more than one post to explain this!

[Diestl]

Yep, round numbers have a reaction.

Now combine the round numnbers with a level on the higher timeframes where price has rejected 3 times and a fibonacci retracement or two and the odds are stacked much higher in your favour.

Then use a 15minute entry technique to get you into the trade and aggresive risk management to get your risk out of the trade quickly.

Aim for a profit target at least two or three times what you have risked (based again on support/resistance levels).

And only take trades that present the above opportunities, stalking them like a hunter.

And thats how you do it! But of course, with years of practice and a little intuition.

Sounds like it could work, I suppose if you practised enought you might get a feel for it. I would prefer to tradeon daily charts and let trades run for 2-3 days. A daily pin bar at a extreme high or low. Trouble is you need a few 100k account to make it worth while (if using 1% account risk per trade).

[SantaClaus]

Sounds like it could work, I suppose if you practised enought you might get a feel for it. I would prefer to tradeon daily charts and let trades run for 2-3 days. A daily pin bar at a extreme high or low. Trouble is you need a few 100k account to make it worth while (if using 1% account risk per trade).

Yep, thats why my "bread and butter" trading is on the 15min chart with reference to 4hr levels. 20-30 pip stoplosses rather than 200 pips.

Pinbars are good, but I would rather take that pin before it has formed, when it looks like a solid bearish/bullish candle and with a much smaller stop. That way I can remove the risk from my trade a lot quicker.

OK, thats it from me for now. Got to get back to the charts.

[DimPrawn]

OK, thats it from me for now. Got to get back to the charts.

Runes