This robot can trade an unlimited number of currencies all at the same time. Thanks Nial indeed a good lesson Reply.
Trading the head and shoulders top and bottom patterns
We trade the exact same strategies we teach. Learn how to become your own investment manager to grow your funds and create an income stream. From new traders just starting out to those looking to cross the bridge from retail trading to institutional trading. All designed to help you become a better trader. I have followed the work of Tony Sycamore, the founder of TechFX, for several years now and he is one of the best technical analysts I have come across.
This owes to his trading experience honed at various investment banks, his indepth understanding of financial markets and his technical skills. Interested in accessing technical analysis and trading strategies used by bank traders and hedge funds?
Don's methods were quite similar but he was first. Don engaged in many other forms of "advantage play" in casino games, all legally. Through various methods including the use of sloppy dealing practices he could see the dealers hold cards giving him a tremendous advantage over the casinos. It was very common for his team to wipe out an entire tray of chips while waiting for a refill from the cage. This "cat and mouse" game left Don always looking over his shoulder. Attempting to blend in as a normal tourist eventually took its toll on Don after 30 years.
He eventually decided to leave the business and play professional live poker known as "No Limit Holdem". Looking for something more fulfilling and the desire to work from home, Don met a gentleman in the Yahoo business and financial chat room.
They quickly became friends and began discussing market theory and experimenting with all kinds of indicators and trading ideas. They spent thousands of hours on the phone together looking for one method that could show some promise over all market conditions. Every idea had its own set of problems. Don continued for 12 years looking for the "holy grail". As you can probably guess one doesn't exist. He called that process "reverse engineering".
You are prevented from using very short calculation intervals because slippage and commissions become too large; the longest periods are undesirable because of large equity swings. There must be a clear, profitable pattern when plotting returns per trade versus the average holding period. Each time frame has a logical purpose and is said to be modeled after Gann's concept that the markets are essentially geometric.
The shortest time frame is the one in which you will trade, in addition, there are two longer time frames to put each one into proper perspective. The patterns common to time frames are easily compared with fractals; within each time frame is another time frame with very similar patterns, reacting in much the same way. You cannot have an hourly chart without a minute chart, because the longer time period is composed of shorter periods; and, if the geometry holds, then characteristics that work in one time frame, such as support and resistance, should work in shorter and longer time frames.
Within each time frame there are unique levels of support and resistance; when they converge, the chance of success is increased. The relationships between price levels and profit targets are woven with Fibonacci ratios and the principles of Gann. One primary advantage of using multiple time frames is that you can see a pattern develop sooner.
A trend that appears on a weekly chart could have been seen first on the daily chart. The same logic follows for other chart formations. Similarly, the application of patterns, such as support and resistance, is the same within each time frame. When a support line appears at about the same level in hourly, daily, and weekly charts, it gains importance. More Trades, Less Risk Double your trading.
So how does it work?