It is important to keep it simple because once the stress and doubts will kick in any hesitation can kill you.
[QUOTE=“VladWulf;743060”]It is important to keep it simple because once the stress and doubts will kick in any hesitation can kill you.[/QUOTE]
Yeah, if it does get too sophisticated & complex then you’ll be waiting on too many things to occur & line-up so you’ll find excuses for not taking perfectly good set-ups & you’re trading is crippled by analysis paralysis.
You can do “Naked Trading” - no indicators at all, just support/resistance levels and chart patterns - and it works. Using many indicators might clog up your judgment.
My strategy isn’t sophisticated at all - I use a combination of candlestick patterns and the Moving Average indicator to ascertain when to trade. I am not fond of sophisticated approaches - in the end I find them more confusing then helpful.
I think its very important to constantly track, re-evaluate and modify stop loss strategy based on current market conditions
There are probably so many strategies and techniques as there are traders, so no matter what people will tell you about their strategy is not going to work for you (which means you should develop one for your self).
Change the question to ‘how sophisticated is your money management technique’ and you are on the right path 
Simpler is better and its very much possible to trade on a simple plain chart then a chart loaded with too many indicators.
I agree - filling your chart with indicator only end up confusing you.
I have a feeling (from your sense of usage) that by sophisticated you meant mature, professional,polished technique. I am not there yet but I am not too far away. I run a thread here. Its my journal. I invite people to review my trades. I believe it is mature though little polishing may be required.301 Moved Permanently
It’s been my experience that simple is best. The replies I’ve just read just a few minutes ago could have saved me so much time. I use zero indicators. I use a stop and a take profit. I agree with 95% of the above replies. I do use an atr before pulling a trigger as I’m into market movement. Money management and trade management is absolutely PRICELESS. Read books and when you get bored; read more books. Hope this helps. 3 ducks is simple and very good by the way.
Well I tend to put everything simple in my trading strategy with plain calculations (only for money management) and basing my analysis on fundamental data. I also use Hotforex trading analysis reports but they’re focused on technical interpretation so I don’t take them as a basis just to get additional confirmation on risky trades.
So do you really on your own analysis or can resort to other sources?
my personal techniques? hmm i never really thought about it, its based on a couple of basic things like support and resistance, trends, and some major news, and a couple of trades a month, nothing really crazy, i do check other peoples trades especially xauusd.
Sophisticated? Okay! Actually the sophistication lies in your discipline and the following your stops and targets which allow you to make good profits at reasonable time. Doesn’t make you greedy and keeps you on your toes and pushes you to become a great trader!
I am also like wih this way, simple than complicated, using so many indicator will not help much and only makig confusion in trading, forex can treat as simple trades if we want to making it being simpler.
Nothing sophisticated, just price action. K.I.S.S
Mine is easy to, but it takes 500 lines to explain the computer how it works… 
Hi Profitbaby,
I am a newbie - and learning to do analysis just now. I rely on my own evaluation, but, since I am newbie, I am not fully sure about whether I am right or not.
I also look at other sources - like just googling EUR/USD trend and check what the popular ones are saying. But I still rely on what I find on the charts.
Thank you
Hey Element.
Sounds like you’re on the right track to me! Always trust your own analysis and apply it to your own system when trading. It’s all well and good to be following other great traders’ systems, but you might not know how to apply the analysis with proper risk management to profit from it like them.
Put the work into your own trading and then trust in yourself.
Hi, I simply agrees with gasanvill’s post. just keep it simple, but the entry part, your entry is the most important part of your whole trading, you’ll have to target a good entry point or else price retracements will be your friend instead of the trend itself.