QUOTE(marvinben @ Aug 23 2010, 01:51 PM)
Yes. In case of reversal, would you rather be already all in or halfway in?
Technicals, they DO NOT work on their own. Must be coupled with Fundamentals. Interest rates, ratings agencies, Banks speeches, unemployment, even mindless rumours can move the market and nullifies any technicals no matter how good they are. My tradings are heavily fundamental. Read the news, banks analysis, commentary. Again, do not take lightly on major banks analysis on the forex market. They are the big players in Forex.
I never use FA for my trading. Some old members here did really well with FA.
Added on August 23, 2010, 2:53 pmQUOTE(scar_face008 @ Aug 22 2010, 02:12 PM)
to those who claim to be trend rider, what's the best method to take the bus as early as possible? i currently ride on from the 1st bounce/retracement with confirmation. do you jump on as soon as your indicator says so?
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for example at the chart above, i only open trade on the 1st bounce off the trend lines. or is it not called trend follower if you ride as soon as it start?
p/s: day trading is scalping. trying to learn long term trading for now. any advice is appreciated

I can't help with H4 because that was too short term for me. If you are trading daily chart:
1)Regardless how your trend trading system was, identify the trend early or late perhaps will make you +200pips or -200pips, but 200pips is just to little compared to the profit that you are able to grap, which is probably more than 1000pips.
2)Talking about exit, once your trend trading system said the trend is over, you cut loss/ take profit. You will miss about 200-300pips to confirm the trend already changed.
3)A true trend trader CAN tolerate and understand the 200-300pips slipped from your pocket, and by end of certain periods for example one year, a good ROI can be obtained.
I am not an expert or professional trader or what so ever, this is just my opinion as a part timer trading the forex market with a little profits.
This post has been edited by bulkbiz: Aug 23 2010, 02:53 PM