www.for-exe.com
  • Home
  • eWavesHarmonics
  • INDICATORS
    • MT4 Indicators
    • MT4 Free Indicators & Scripts
    • eWaves v1.0 Manual
    • MT5 Indicators
  • Trade Tools
    • Advanced Trade Manager
    • Advanced News Trader
    • Trade Copier
  • Trader Training
  • Harmonics
    • TheHarmonicIndi
    • TheHarmonicIndi Instructions
    • Harmonic Chart Pictures
    • Harmonic Patterns
  • Trading Blog
  • Contact Us
  • Who is Snorm
  • Q&A
  • Trading Services
  • Useful Links
  • MT4 TIPS and TRICKS
  • Newsletter
  • MetaTrader Wingdings
  • Fibonacci Numbers
  • Privacy Policy
  • Terms of Use and Disclaimer

21% Profit on DAX M1 in 1 hour

28/7/2020

0 Comments

 
Picture
A special mention and big congratulations to Michal, from our Skype Trading Group, who, just yesterday, did his best M1 trade to date - making 21% profit in less than an hour.  Incredible stuff!

How did he do it?  He simply waited for a very low pip-risk entry (using a strong supply zone drawn by eWavesHarmonics) with an obvious price magnet for his target and some shrewd trade management.  Patience - discipline - let the trade run.     

It's easy when you have the knowledge of price action, tools and discipline - all of which, Michal has mastered and demonstrates time and time again. 

​Trading doesn't have to be complicated to be very profitable; nor do your charts need to be cluttered with useless indicators. Buy the dips, sell the rallies, rinse and repeat.
0 Comments

Should I trade in August?

8/7/2020

4 Comments

 
Picture
A trader friend recently asked me whether or not I trade during August – the month where many of the northern hemisphere traders are supposed to be on holiday (less likely during these strange times of Covid-19 lockdowns) and, according to rumour, it’s supposed to be the quietest month for trading.

I treat August like any other month, for trading purposes: if the price action is good, on any given day, then I’ll trade it. The question, however, inspired some more statistical analysis, just to see if August really is as bad as many so-called ‘trading experts’ would have you believe.
​
One simple approach is to just look at the monthly charts to see how the August bars compare to the rest of the year.  A quick glance at a few charts suggested there was no noticeable difference.  Visuals are one thing but nothing beats hard statistics; so I wrote a quick program to export the monthly data (using all available data from my broker – mostly back to 1997) for some of the main instruments, to CSV files.   There are two values that seem like logical candidates for this exercise: the monthly price range (high-low) and the tick volume.  If you’ve read my blog post ‘Tick Volume a Waste of Bits’, you’ll know that I have little regard for that data, it is however useful for the purposes of comparison. With the data averaged for each month, I was able to make the following summary table (click to enlarge):
Picture
If we take the first column, for DAX, you can see that May (month five) had the lowest average price range and October (month ten) had the highest.  August was 11th (with 12th being the highest).  Similarly, using the average tick volume, February was the lowest and October was the highest.  Again, August was second from the top.  Therefore, it’s plain to see, August is definitely not a quiet month in terms of trading; quite the contrary.  The data for the other instruments show that August is also just as good a month as most others, for trading, although the tick volume on GBPUSD and GBPJPY is quite low then.

I would have thought that December would rank lowest for most instruments but, surprisingly, that isn’t so – although we don’t need stats to tell us that trading between Christmas and New Year is a dumb idea.
​
If you find yourself stuck at home this August, trade what the price action gives you.
4 Comments
    Subscribe to Newsletter

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    August 2021
    July 2021
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    August 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013

    RSS Feed

Website design by Snorm
Subscribe to Newsletter
  • Home
  • eWavesHarmonics
  • INDICATORS
    • MT4 Indicators
    • MT4 Free Indicators & Scripts
    • eWaves v1.0 Manual
    • MT5 Indicators
  • Trade Tools
    • Advanced Trade Manager
    • Advanced News Trader
    • Trade Copier
  • Trader Training
  • Harmonics
    • TheHarmonicIndi
    • TheHarmonicIndi Instructions
    • Harmonic Chart Pictures
    • Harmonic Patterns
  • Trading Blog
  • Contact Us
  • Who is Snorm
  • Q&A
  • Trading Services
  • Useful Links
  • MT4 TIPS and TRICKS
  • Newsletter
  • MetaTrader Wingdings
  • Fibonacci Numbers
  • Privacy Policy
  • Terms of Use and Disclaimer