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Monobrow

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About Monobrow

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  1. I'm starting my journey, so I know very little, except I consider myself to be of above average intelligence, and have succeeded so far in my professional journey to date... My observations on trading, especially day trading, after many hundreds of hours of research and coming at it with a fresh mind are: 1. Algos/Bots do not work. at least nothing available to retail. Even if you have a kick **** strategy, it is not possible to time the market and get the SL and TP in the correct places without intervention. or at least, I haven't found a way yet. 2. You definitely need to focus on a few instruments at first, ideally 1. And it needs to have enough volume and volatility / range to make it worthwhile. Indices are perfect for this. Forex seems too tight a range. and individual shares just too susceptible to news events. 3. Indicators are useful (choose one, any one, i don't think it really matters if you choose any of the ones that are known to be solid; MACD, Ichimoku etc), and show possible set ups, but its the candles that you need to master. As the saying goes - "Indicators for show, price action for dough". So in summary, you need to be in front of your PC, mastering 1 instrument, using an indicator for setups but price action to pull the trigger. Always using TP & SL of course. and yeah, following solid money management techniques - 1:2 sounds great but in reality anything over 1:1 with a better than 50% win rate will suffice - dont get too greedy. i'll come back in a few months and let you know how it went
  2. This is an amazing post and perfect for me as I am just starting my journey - also from a banking and finance background. I posted something here earlier, but do you use a news feed? if so, which one? if not, why not and what are your thoughts? Good luck with the next stage of your journey.
  3. Hi All i'm looking for recommendations of the best (paid if necessary) news service that focuses on Europe events. Im mainly trading the DAX and would like as up to date info as possible ideally that includes some sort of squawk box. thanks!
  4. Is this statement from the article true? “....Day traders might think that because they’re paying zero commission, their trades are free. But when a day trader places an order, a trading algorithm somewhere quickly figures out that they want to buy or sell, and raises or lowers the price accordingly, so that the day trader gets a less favorable price....”
  5. Hi All Excited to be starting out at day trading (spreadbets). Taking it slow and doing a lot of research. I have a strategy that looks like it works well with the DAX and DOW, but its pretty slow going, on trend stuff - probably only a few trades a day. I wondered if anyone has any advice on other (similar behaving) markets I could add to look for indicators? I looked at some forex pairs, but they seem a little scary... Uncle google suggested US500, but doesn't look like I can make much point wise there - spreadbetting. im happy with taking 10-20 pts per trade. any tips? for other markets or in general appreciated. thanks!
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