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Market direction predictions


truckman

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Although I have only recently become involved with FX and Crypto trading, it is pretty apparent that only those with insider information can predict which direction the market price will probably go, IE. up, sideways or down. 

Anyone out there who has found a signal provider (free or paid for) that actually works, other than those who are following a market trading trend that is already established?

If their system was any good why would they be selling or giving it away for free, surly they would just use their system for their own trades and make a lot of money.

I wouldn't be selling a system if it worked as good as they suggest their systems  work, I would just trade with it and make the equity grow.

Comments and thoughts welcome on the above.

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Hi Caseynotes,

Yes I agree, Cable was a good example yesterday (9th July 2021), on a slow climb all day from around 11 am until the markets closed down for the weekend 😒.

 

I have looked at different indicators, EMA seems to work quite well for me, the problem is they are all historic, I need to polish that crystal ball!

So, how do you get around the problem of the market dumping you out? 

To be honest I don't think the market is dumping us out (apart from the stop limit hunters or manipulators (if its a software glitch it was programmed in on purpose and is still manipulation) with their wild price spikes at the beginning and end of trading), the market is just following supply and demand and we have a 50 / 50 chance of being correct, a better chance if we follow the trend, unless we place the deal at the high or low end of the chart, IE. buy cable at 1.43 when you know it will go straight line or fall due to profit taking.

Set the stop loss so it cannot be reached and adjust it if required if the trade goes against you further and just ride the storm until the market price changes direction in your favour?

You wouldn't want to get stopped out on a 8 point or higher stop limit, only to see the price change in your direction again.

I know it will put the risk to reward ratio out in your favour, that doesn't matter if you do not take a losing trade.

I read a post on here where the author never closes a loosing deal, he just waits for the price to change direction and go in his favour, which short of some major world changing event it will go through this price cycle, and even after the event it will recover IE. March 2020 all the markets fell and recovered again. 

Thank you for your input, I think we need to nurture the community post content, some of of the posts are just crazy simple to find the answers to.

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