Rags to RichesQ: What timeframe charts do you look at?
A: Initially, I start with a four-hour, but I take my signals from
the 30-minute chart.
Q: You said that initially you learned from your friend and then
you read some books afterwards, what has made the difference?
Has it been the initial training with your mentor that really taught
you most of what you’re doing now or did you learn more tricks of
the trade later on in books or forums?
A: I learned more from the forums and my own research. It is on
the forums where you have guys talking about actual strategies and
things that are going on in the markets at the moment. However
the bottom line was that at the end of the day, I plugged in each
and every single indicator on the charts, one at a time and I would
sit and look at this indicator, understand it, analyze it and critique
it. If it didn’t look easy to me I would take it off and I’d move on
to the next one. Through this tactic, I found a group of indicators
that I was comfortable with. The next stage for me was then to
hone that group down until I had about two or three indicators.
Once I had done that and found the indicators that I wanted
to use, it was then a matter of tweaking the setting until I got
it to point where I was happy that, if X lines up, thenYwill
most likely happen. I would use the second and third indicator
merely for confirmation, and that is actually when success finally
came.
Q: So your charts are fairly simple? It sounds like you have
about three indicators on them, one primary and two for confirma-
tion?
A: Two is confirmatory. Yes.