There were no trades for me again this week, and I've actually decided to stop trading forex for the time being. My 4 hour trading system just doesn't generate as many trades as it used to, and with the markets drifting aimlessly with all the uncertainty that's around right now, I think it's best to just sit on the sidelines.
Even if market conditions do change and we start to see a lot more volatility, it will be only last for a few weeks anyway because we have the Christmas and New Year holidays just around the corner, and the markets are always very quiet and impossible to trade at that time of the year.
Anyway I shall still be trading stocks, as this is what I love doing more than anything else, and I have this website and a few others to keep me busy, but there probably won't be any more Weekly Trading Updates for a while.
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Permalink• Print• Email• CommentRelated EntriesWeekly Trading Update - 13-17 December 2010Weekly Trading Update - January 5-9Weekly Trading Update - 31 October - 04 November 2011My Most Popular Posts Of 2010Weekly Trading Update - 25-29 April 20116 Comments on »November 11, 2011Trevor@ 2:45 pm:Didn't your 4-hour system pick up the GBPUSD dropping sharply from S1 to S3 from 09.30 GMT on Wednesday, 9-11-2011?
Perhaps you could extend this system into equities to broaden the choice?
What are your other websites?
Permalink• Reply Trevor@ 5:03 pm:IG Index offers Autochartist.com free for regular traders. This has been upgraded recently and offers 'Completed Patterns' for forex, indices and stocks, with forecast target ranges. These are based on support / resistance levels. There are intraday updates every 15 minutes with sound.
These target ranges can be traded ½-point from breakout to first target, and ½-point from first to second target (if applicable). Each instrument is offered in intraday and daily patterns and forecasts.
A huge range of instruments is covered; for convenience the major ones are those most worth following.
Permalink• Reply James Woolley@ 8:14 pm:Hi Trevor,
I was looking to go long on the GBP/USD because it was still in an upward trend according to the Supertrend indicator on the daily chart. So the downward EMA crossover was a 'no trade' for me.
Thanks for the info about the Autochartist feature.
Permalink• Reply November 16, 2011FXBonus@ 5:57 pm:The current market conditions are really worrying and I hope everything gets on track with the EU crisis.
Permalink• Reply November 24, 2011Irvin@ 10:14 pm:That's enough of these companies that take people's money, now I have my own account in Alpari UK, I need now is to get a good trader, serious, honest and disciplined operating me, if anyone knows something write me : lussia910gmail.com
Permalink• Reply November 28, 2011Trevor@ 12:59 pm:Unfortunately the 4-hour system can't pick up trades in this listless market. However, if one looks at the weekly charts there are trends; small stakes and wide (250 point) stops are required.
Intraday, 10-minute timescales with 30-point stops work for those who can watch the charts.
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