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Shadowtraders system. Scam or real? (www.shadowtraders.com)
This thread is getting long in the tooth, isn't it?
With 'day trading' I follow this free and simple system .... see how price reacts around significant support and resistance areas -- and look for higher highs/higher lows, etc -- and then go with the short term trend, with a stop just far enough above/below resistance/support to not get shaken out too quickly. You may want to get more than 3 ticks -- or whatever -- out of the trade though.
I have a similar effective and free system for losing weight - eat less, exercise more.
Yes, in theory, that may seem to be enough. But in practice, (especially if you are going to take your trading to the next level) it requires just a little broader skill set in reference to market knowledge, emotional discipline, methodology and money management.
As the wise man (you have chosen to be your avatar), once said,
"In theory there is no difference between theory and practice. In practice there is."
That's a good one of his, hadn't heard it. I oversimplify of course but with the right time frame and conservative position sizing, you can cobble together a pretty simple and good -- generally, non day-trading -- system using support and resistance levels for buying and selling. Most people here though, are looking for more frequent day trading profits ... I am mostly moving away from that, largely because my entries and trading vehicles are pretty decent but I take profits too quickly.
Father Guido Sarducci's Five Minute Trading University
All you really need to learn to become a successful trader...
master the 4m’s
markets- price action
mental- emotional discipline
methodology - cut you losses, let your profits run
money management - risk less than you expect to make
trade bounces from a barrier, in this case a pivot.
The box is a Ninja Indicator st MASlope BoxMulti for the 13 EMA, shadow coded it a bit better than the default.
it has to be 45 degrees or lower. look at the bigger chart, that is the updated version
blue or beige in the backgroung (from fractals, that means possible change of direction)
V in the brown LinReg 4 is not so nice, it should be sharper, a real V
MACD should not go through the centerline against the trade
BuySellVolume should have a spike
candle should have a tail or wick (not so perfect on that trade, there was an additional fakeout to the north)
enough ticks to the 13 EMA, more than 3
sorry again that chart is so small
you see that you have to train that kind of trade
so track record depends on your own risk appetite
the "LAST" is yesterdays close
NET is difference from actual price to yesterday close
