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Been trading FX for 2 years now and love the business. Was fortunate enough to get a job at a prop trading firm that day trades exclusively stocks. I have little experience in the stock market, but much of my system can be applied in 5min bars on stock from the Russell 1000.
I've been enrolled in a Forex school for just over a year (James16 from ForexFactory) which has been really helpful.
One thing I am focusing on is using volume to confirm my price action story. Even in intraday in Forex, volume seems to help confirm signals as I've been backtesting. Before, I ignored it and took a lot of false signals. I'll see if I can improve :-)
Can you help answer these questions from other members on NexusFi?
Without disclosing who I work for, it's a small firm in my city (I live in a medium sized city in Canada). It had a terrible training program, so I've had to bring my knowledge of technical analysis from Forex and try to combine it with tape reading.
can you elaborate more about PA + volume to confirm please? If you trade forex on MT4/MT5 then volume is quite different from broker to broker and different to futures for the same currency.
I only use volume when I trade equities not FX. The same PA applies to both, but I need a spike in volume for me to enter a trade in equities. The PA I use is quite simple really, just Support/REsistance, Trendlines, and PA bars (i.e. pinbars, engulfin bars, etc.). I just look for charts that have near perfect S/R or TL, with big bars. And for stocks, that have a spike in volume.
