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Thread: catching tops and bottoms

  1. #1
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    Default catching tops and bottoms

    My first post here, I hope you all like it.

    I've been around the block a couple of times with FX, and I've found one thing to be almost universally true.

    There is only one kind of person that is able to consistently and accurately find the top/bottom.

    That person is called a liar.

    My point is that WAY too many people place WAY too much emphasis on finding the absolute top/bottom for making a trade and will try to find the absolute top/bottom to get out.

    Such a thing is pretty much impossible to accomplish.

    Very nearly all technical indicators are lagging ... how can you expect to get in at a bottom and exit at a top when the indicator you are using lags the currency?

    This emphasis on catching tops and bottoms ends up creating a lot of emotional distress that then leads to poor trading decisions.

    Remember, FX is zero sum. The trader that is calm, cool, and collected, that follows a system DISPASSIONATELY is probably going to be a winning trader.

    The point I am making here is your focus should be on making trades that add equity to your account, and don't worry about what you coulda, shoulda made if only you had gotten in sooner or held on longer.

    I'm going to be giving a couple of the systems that I use in the trading system section for those that are interested.

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    Default

    what types of systems?? automated EAs??

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    About indicators lagging, its true. Thats why learning price action before looking at indicators is far more valuable in the long run.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
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    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

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    Default

    still waiting....

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    Quote Originally Posted by pipon View Post
    still waiting....
    I already did give details on one system, have you seen it?

    I'm going to be giving the rules for another system this week.
    Last edited by PipDoctor; 03-23-2009 at 11:56 AM.

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    Quote Originally Posted by FXexpert View Post
    what types of systems?? automated EAs??
    I'll be giving you the setup for your charts and the trading rules. Even though I'm a good programmer, I'm not a big fan of EAs.

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    Default

    So far, I have been doing all my trades manually, but I won't say EAs are bad until I have a firsthand experience of them

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