That's good idea. I am personally not against paying taxes but not on the scale accepted here as social security is in shambles and I simply have no idea where those taxes are going. Considering what business we are all in when you never knows if you have profit or not cause nothing is quaranteed paying 40% is a heavy burden.
I have never been in Thailand. Have heard that Thais are pretty lazy but it is good place to come and relax. Been to China for a couple of years with breaks. It is very energetic place. The pace of change is fast. Been there first in 1988-1989 when a lot of people still wore Mao suits and I did not see a single fat Chinese then. I actually liked it then too. I was studying Chinese, liturature and history and was practically programmed to like China. My only misgivings that they are trying too hard to be like the West which I do not like as China has got outstanding culture of itslef but it seems dead by now. My teachers all were old China born old fashioned Chinese or China assimilated Russians and the difference is obvious. Anyway, I always like to go and stay there. Would prefer cleaner air though.
Don't know who said the Thai are lazy, but they are ill informed. They work like ants. Whole east does, as the China story proves.
Takes like 0.5 people 0.5 days to build a car there where here we have like 10 guys doing it in 4 days. Volkswagen has a factory or three there and here so the figures must be available for comparison.
And they are all entrepreneurs. I've seen a a guy make money with a jam jar, two forks and two tooth picks. That does take some doing.
I'm morally against our taxes. We end up with less than 25% of our income here, and the politicians get voted in by the best promise. Sadly not a sustainable system, as the west is about to find out.
Not only this. Had those taxes provided solid social protection like i tis say in Scandinavian countries or Germany it would have been different story. But when you earn well and pay say $100 000 a year in taxes and if shit hit the fun and you need support the maximum you get per week here is $400-425. any sense?
Chinese are very industrous. They have been mercantile people for thousand years. But i am truly amazed at Japanese who are imho without equal. Not only they are industrious but their unique national psychology based upon samurai ethics makes their produce the most reliable. Unfortunatelly cannot say same about what other Asian nations make as I have never had any problem with anything made in Japan but had with made elsewhere in Asia including China. I would not also include Germans in traditional West. By west you probably meant English speaking countries?
My personal opinion (tried all kinds of indicators in my early trading days) is that indicators should never be used as a reason to do anything. Any indicator is based on past price action. What I found is that in order to try and 'predict' future price action as best I could, I use support and resistance levels to determine a Breakout Zone (typically 30 Min chart) and S&R levels on a 4-Hour chart to determine profit targets.
Look at the attached chart for example. I wrote my own (rather unsophisticated) indicator that uses Fractals to draw horizontal lines on the chart. It draws a Breakout Zone on the specified lower time-frame (e.g. 30Min), and Profit Target S&R lines on a higher time-frame (e.g. 4 Hour). These lines are automatically re-drawn once price has broken out and moved to a new consolidation zone.
The Breakout Zone has five lines, a Pivot point used to determine if I am Bullish or Bearish, a Resistance Level with a Bullish Breakout Confirmation Level for a buy order on the breakout, and a Support and Bearish Breakout Confirmation Level. You will also see the MACD True indicator, which I ONLY use to CONFIRM order entries and exit decisions.
So the basic idea is that I wait for the market to consolidate inside my Breakout Zone. I then watch for a possible breakout above or below my Breakout Confirmation Lines (a 30min candle must close above or below). I then check the MACD True indicator to make sure the MACD Line is above or below 0, above or below the signal line and above or below the histogram (momentum bars). Then I place a trade and use the 4 Hour S&R lines as profit targets and the other side of the Breakout Zone as my stop-loss.
So my point is this, no indicator on its own can be used to make trade decisions. You have to learn how market structure works, and why they are formed. When the market is consolidating, this is an indication that Institutional traders (banks, Hedge funds, etc.) are busy building positions. Markets consolidate because price is in a range that is considered 'in value'. Once something happens like CPI data, payroll data, etc. markets will break out of the 'in value' range and move up or down. The big bars on the chart is mostly started by HFT machines, which then prompt the rest of the market to join in. But the market is usually directed by the large institutions in the longer run, due to their large positions. This is why you often see market reversal 5 to 10 minutes after US non-farm payroll releases. The initial move was caused by HFT machines, but as soon as institutional traders have gone through the print, the start taking large positions in the opposite direction.
Anyway, I'm no expert or economist, but after nearly 7 years I have learned that indicators on their own is pointless. They should be used as tools to assist you in your trading decisions, but NOT be the sole reason why you take trades.
Thanks for the response. I like your idea of thinking, however your for the novice trader, you chart looks too busy and confusing. I've created the Forex Breakout Direction Indicator & EA which is Set & Forget system aimed at part time traders that wish to start to trade the forex markets.
There is currently 41 traders using this system (as at 20.09.16)
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