I am a total newbie who has only been demoing a few months, currently learning Wicker's Trendfollower system. http://www.forexfactory.com/showthread.php?t=40325
Seems like a really great system for a newbie like myself.
However, with the help of Pilatus's informative posts, I realized that, one can not just simply follow blindly a beep or a message on your computer telling you to push the order button.
That is simply a conditioned response, which may work out for you but it may also get you into a lot of trouble through ones own lack of knowledge and indeed this kind of response may forestall anyone from learning how to confirm the signals with knowledge one has learned for oneself.
Indeed Wicker himself states that the following.
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Trend Follower is a trend following system. If you ever heard the saying Trend is your friend, this system will show you the mechanics behind these words. Its unique approach to the market will give you a great understanding of market movements and allow you to see that what happens is not random but an underlying order behind price movement. Through practicing these exact rules with which the system was designed, you will get a more clear picture of the market and begin to reap the financial rewards.
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How true this rings to me and also this system opens up a can of worms in my mind which have to be answered by myself and by learning simple things like Chart Patters. Actually, Pilatus stuck this spike in my brain with one of his posts about why he made the trade that Wicker's system gives him signals for.
Found a great thread for someone like myself who is a COMPLETE newbie on chart patters that is easy to grasp with little or no former knowledge of trading.
http://www.babypips.com/school/pattern_schmatterns.html
The Head & Shoulders patterns and trend reversal.
Note how you can get a fairly good grasp of movement direction before the LONG or SHORT signal arrives. This can get you into a good trade and more importantly keep you out of a bad one, when it goes "Head Shoulders, Knees & Toes".
http://img159.imageshack.us/img159/1...ouldersrw7.jpg
Well, I will keep this short as I don't want to bore anyone with my personal experience but if this post points just one Newbie like MYSELF who may find themselves lost on this board, in the right direction, it will have been worth it.
Seems like a really great system for a newbie like myself.
However, with the help of Pilatus's informative posts, I realized that, one can not just simply follow blindly a beep or a message on your computer telling you to push the order button.
That is simply a conditioned response, which may work out for you but it may also get you into a lot of trouble through ones own lack of knowledge and indeed this kind of response may forestall anyone from learning how to confirm the signals with knowledge one has learned for oneself.
Indeed Wicker himself states that the following.
--------------------------------------------------------------------------------------------
Trend Follower is a trend following system. If you ever heard the saying Trend is your friend, this system will show you the mechanics behind these words. Its unique approach to the market will give you a great understanding of market movements and allow you to see that what happens is not random but an underlying order behind price movement. Through practicing these exact rules with which the system was designed, you will get a more clear picture of the market and begin to reap the financial rewards.
-------------------------------------------------------------------------------------------
How true this rings to me and also this system opens up a can of worms in my mind which have to be answered by myself and by learning simple things like Chart Patters. Actually, Pilatus stuck this spike in my brain with one of his posts about why he made the trade that Wicker's system gives him signals for.
Found a great thread for someone like myself who is a COMPLETE newbie on chart patters that is easy to grasp with little or no former knowledge of trading.
http://www.babypips.com/school/pattern_schmatterns.html
The Head & Shoulders patterns and trend reversal.
Note how you can get a fairly good grasp of movement direction before the LONG or SHORT signal arrives. This can get you into a good trade and more importantly keep you out of a bad one, when it goes "Head Shoulders, Knees & Toes".
http://img159.imageshack.us/img159/1...ouldersrw7.jpg
Well, I will keep this short as I don't want to bore anyone with my personal experience but if this post points just one Newbie like MYSELF who may find themselves lost on this board, in the right direction, it will have been worth it.
Starting to see instead of just looking.