Series on trading methods (Part 1)

[Kevin1744]

"A Trader just find a best pattern to follow in his life"

I wanna create a series about the patterns I am following that have helped me to profit in this market.

This is one of the patterns what I often expect, I want to start with it because it is one of the most ideal in my opinion.

-> The price moves up and accepts a new Value Area, then I will look for a buy signal.

Moving up in a continuing uptrend means you're buying in a position that is recognized by the community as bullish. In addition, you'll has the backing of big buyers who bought from the low value area, they want to protect and strengthen their position.

This is different from buying on a reversal pattern, where you have to fend off many sellers on the way up, as these sellers need to protect their positions. So even though this pattern offers a bigger profit (if you win), in terms of trade-offs, I still choose to buy on the continuation position.

How about you?

 

[PERWAIZ AHMAD]

Dear Trader,

I too am novice and learning the knitty and gritty of forex trading. I do trade in the India stock market. I do agree that patterns if understood well do reduce to a great extent the odds of trades, but they, too , so often then not result in wipsaws or wrong signals. To thoroughly understand the aptterns I do personally feel that understanding the Eliotte Wave Principles can prove to be of great help. I would appreciate if any of the experienced trader would show me the right path and if they also consider Eliote Wave Theory to be of importance in understanding the amrket behaviour then please suggest me the right sources wherefrom I could get something concrete so far as the principles of wave theory and through them understanding the price action could be comprehended substantially.

Any of you may also guide me as regards to the methods, strategies and the indicators that may be effective in forex trading. What I could have learned from my experience in the local stock market is that these indicators or various other strategies, which are in abundance , if are applied in combinations andpermutations with consistency give positve result but not all the times. As I gathered information from various sources like forums is that there are few successful traders who have achieved accuracy as high as 905 or 99% in their trades matering the Eliotte Wave Principles.

What I want that all of you who are spread in all the nook and corner of this world would like to help me so that I may also feel proud of this forum. I am very new to this field of activity and your suggestions, views and opinions will definitely prove to be eufgr path whower.

One more thing if any of you dear trader if knows or possess any indicator which exists there in rightly counting the waves, may please share his knowledge through the media of this forum.

With good luck and lots of pips

Perwaiz Ahmad