Monday, December 13, 2010

Same scenario

Same scenario as on the previous fx post : collecting pips when bying ascending supports and getting anxious, having fewer pips, if not losses, when bying breakouts It is very simple, isn't? Some cunning fellows charge you (a lot of) money to teach you this..

6 comments:

Sam said...

Very true.

I know one guy who charges in four figures for his workshop and then bills $100 every month forever for very simple scalping system. Trade after breakouts when price settles and price is not in the range.

$parrow FX said...

Unchanged pleasure to read your blog...

Keep on doing good,
Sparrow.

Anonymous said...

Dear Constantino,
Would you please detail as to what is an 'ascending support'. Is it an ascending trendline or a moving average?
And do you take the trade on the touch of or bounce of the ascending support.
Many thanks..
Tc:)
K.Singh

The forexbird said...

hi k. singh,

"ascending support" is not an indicator! It's pure price action observation. It is like the higher low but not exactly that. I will try to explain with a chart.

Anonymous said...

So sweet of you.
I will wait for the chart..
Hava nice day..!!

Finn said...

This is such so crucial for us to gain experience because there could be many times where market will react same type so it depends on us if we have the alertness to spot it and if we do then we can make great money from it. Right now been working with a broker of OctaFX caliber it’s a pleasing situation for me since not only I can spot these easily due to the famous cTrader platform but also react so fast due to their instant execution of trading orders without delay.