Archive for the Make Me Some Money Ideas Category
My first thought is that new traders should start off with the longer timeframes… shorter timeframes are extremely stressful and a quick way to lose money particularly when you’re starting out. That’s not to say that it’s not possible but the likelihood that you will burn out is greatly increased if you run before you can walk.
Trading the Daily timeframes work better as there’s less ‘noise’ in the markets.. you’ll see less signals but the moves should be bigger and you igno
October 29, 2013
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Following on from my article on the pinbars to trade, i thought it would be a useful to identify some pinbars which are not good to trade. Hopefully between that article and this one, you’ll get a better idea of what is defined as a good one to trade and what is a bad one and hence avoid.
Pinbar against a strong trend (unless its a Massive Move Pinbar - see http://www.makemesomemoney.co.uk/select-pinbars-trade/)
Sometimes you see a 1 day reversal in an underlying trend.. quite often this is
October 22, 2013
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This is going back a while now but a trade that I had put on the 5th August - those following my Twitter feed would have seen this.
I went long AUDUSD after seeing a pinbar as you can see from the pic below.. the next day it went up and the following day, you can see that there was some retracement. In the Daily chart, it looks fine but if you actually saw what happened that day, you would have gotten spooked which is what happened to me. I saw that I was 70 points up at one stage and then
August 14, 2013
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