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joshi_s_p

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Posts posted by joshi_s_p

  1. The market profile principles are sound and Alexander's class on it is good, it's just that he makes it sound like the be all and end all of trading, and the fact that he is not successful with it proves it is not.

     

    But I've changed my mind about his membership subscription, the guy is like Midas in reverse. If I follow his trades and take the opposite side on all of them, I will do very well. Last week he called 4 trades and got them all wrong so if I'd done the reverse of what he suggested, I could've been up (rather than down) a couple of thousand dollars. :)

     

    thats a good strategy :)

  2. Yes, if you are using more than 3 indicators, its really analysis paralysis. People try to find holy grail but needs to understand mechanics of these indicators and ow they work/ if they work, how often they work, in what market condition they work, etc. Just adding lot of indicators is not going to get good signal.

    Most of the time, I like post not because i am downloading content but because i appreciate efforts person take to share.

  3. professional traders do not keep there position on because they think they are correct. They let market decide if they are correct or not. If they are wrong, they cut there losses as early as possible. Retail traders mostly trade on emotions and because they are long in a position, they think that market should/must go there way. They try to force there emotions on market rather than understanding what market is doing.
  4. i will be little cautious here. Even market is running for 24*7, one needs to find where is liquidity. If you are trading EUR/USD, more liquidity will be there when london and NY stock exchanges are trading. Other times, liquidity is less.

     

    also for new traders, they always get attracted to high leverage but forget that high leverage is also receipe for quick blow up one's account if trade goes other way.

     

    Last thing i will say is, no matter what market you trade, what instrument you trade, have a trading plan and follow it. Keep your position size small unless you have gone through drawdowns and know what you are doing.

  5. JudeDaniel, please make sure to start small and less leverage. With high leverage, chances of blowing account quickly is higher. For very short term trading, timing matters most up to exact millisecond, but for other duration, you can go with any broker. I will stay away from brokers who try to get customers by giving bonus, it is good, but i will definitely check other things and not just depend on bonus. hope this helps
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