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“Trade of the day” Monthly Report – April 2022
Below are the performance statistics of our “Trade of the Day” website posts. The posts can be found at this location: https://trader.autochartist.com/category/market-analysis/ Accuracy – the quantity of posts that reached their forecast price. Total Forecast Pips – the cumulative number of pips reached by correct forecasts Total Drawdown Pips – the cumulative maximum drawdown shown before […]
Setting the Day Trading Ground Rules
Day trading is challenging. Don’t let anyone tell you otherwise. The odds are stacked against you, and the risk of loss lurks at every turn. That’s why it’s important to understand the ground rules of day trading. Start with your Range One of the most common mistakes with day trading is failing to identify the […]
The Martingale Strategy– is the Risk Worth the Reward
A Martingale forex strategy offers a risky way for traders to bet that long-term statistics will revert to their means. Forex traders use Martingale cost-averaging strategies to average down in losing trades. These strategies are risky and there are no long-run benefits. But with no long-term benefits, why do traders make use of this system? […]
Mastering the Mechanical Trading System
Much research has gone into pinpointing the causes of mechanical trading systems failures, especially after the fact. Although it may seem oxymoronic (or, to some traders, simply moronic), the main reason why these trading systems fail is because they rely too much on the hands-free, fire-and-forget nature of mechanical trading. Algorithms themselves lack the objective […]
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How can a Dual Stochastic Forex Strategy Improve your Results?
Stochastic oscillators can be a valuable tool for mechanical forex traders. However, traders often make the mistake of using stochastics together with numerous unrelated indicators with questionable results. Like some other traders, I’ve found that using a single stochastic oscillator usually doesn’t produce consistent winners. The good news is that a dual stochastic forex trading […]
Trend Lines: Can you Trust Them?
What can we say about trend lines? Is there any trader in the world that hasn’t used them? I seriously doubt it. We’ve been told time and again, “Trust the trend line. The trend line is our friend.” The visual appeal of a trend line is just irresistible. We all enjoy the confidence felt when […]