That’s quite impressive
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Are you using this in your own trading, or just a simple strategy you’ve come across. I mean, that’s simple!
And would this work best looking at charts on say a Sunday in the US? Because I wonder how the weekend plays into things. Like would you take a trade on a Friday, if it met the rules you mentioned?
I don’t ever open trades in real time, I set entry orders in advance.
I do often set entry orders during the weekend but I am conscious that spreads when Asia opens at the start of the week can be very wide and prices can be volatile, especially on thinly traded pairs. This means I sometimes have an entry triggered which looks very negative by the time, London opens 8 hours later so it can be better to wait for London to open and then set the order.
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I don’t think there is an easy answer to this, things may go right for a while but it takes years to fully experience the markets and even then the unexpected can happen
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Agreed mate
True actually, sudden drop in car sales in France leads EURGBP pair to sudden fall…unexpected 
this is what market do and we have to plan our trade accordingly.
It doesn’t matter when you enter trade actually. Of course, everything depends on your trading style and strategy. The vast majority of traders enter trades as soon as the market opens. So, if you don’t know when enter a trade, then you should start as soon as the market opens. This move lets you understand when it’s the best time for you. Actually, there are some situations when you would better stay off the idea of entering the market, for example when it’s too volatile because of some events and news. In other cases always comply with your personal trading strategy. By these steps you will understand the best time.
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Relying on an indicator alone which is often lagging is a poor way to pick an entry. Have a plan in place on why you’d pick an entry and then use the indicators if required to add confluence. Go back over the BP School as well if you are coming unstuck with how to create a plan.
I wonder what kind of answer did you expect to get? There are lots of different trading strategies which can be applied by certain traders according to their style of trading. Some traders trade with market, some traders trade against the market, some traders a scalpers, others are long-term traders and so on. How can anyone tell you when to open a deal if they don’t know anything about you and the way you trade? Be realistic. Nobody is going to take the responsibility for your trades free of charge. Browse the internet and trading forums. You can find lots of useful information there and even in this forum. If you think that there will be a guy who will share with you some successful tradinf strategy, you’d better have another think coming. Trading strategies should be customized according to the needs of one specific trader who use it, you should understand what you are doing and why, otherwise, every fluctuation will put your budget at risk and sooner or later you’ll blow your account.
Hi @ore123,
Sorry I missed this post. My idea is that you have not watched enough of the NNFX videos. This may or may not be of use to you, but it is the result of a search on “MACD” I have done in my (as yet unfinished) 2021 Trading Plan, 90% of which is based on NNFX method.
It is purely a dump of anything related to MACD, and lies in waiting until I do some backtests on this and tens of other strategies / plans that are included in “Schubert’s unfinished symphony” as I endearingly refer to my own plan that has grown so many arms and legs it has become like War and Peace.
Also, I have finally got off the ground and started my back testing proper. I am using Forex Tester 5 as a tool, and there is a post in the Trading Tools section on the forum.
Bother to test the RSI? Yes. Change settings, despite RSI being in the Dirty Dozen. Has a decent chance of working. Modern day versions of old indicators are worth testing. For example, parts of the MACD indicator are used by VP.
Note from @steve369 on this forum:
Now I intraday trade a semi-naked chart - using a breakout of Supply and Demand zones at the London opening session (which are daily S&R zones) and having EMA 51 & 21 trend lines as confirmation and trend line signals. PSAR modified to indicate change of direction and MACD modified for trend strength and entry signals.
11 13Sep18 MACD Strategy – Only Use One Part of It NONE 15?
26 13Sep18 MACD Indicator (It’s Not Great BUT…) 25
We will never really know what the trend is until we have hindsight. The algorithm is designed to get us into trends not too early, and not too late. Eg MACD can be used but wait until they cross back up over zero (best definition available) MACD and Trend (key videos) did not get you into the trade too early. You had to wait for them to develop to confirm in the signal.
Hi and welcome,
Uh oh. I may have fallen foul of the “secret squirrel trading squad”. Out of a five trillion dollar per day market, if someone has a successful strategy as a retail trader, what possible impact could that have on the market. If I find a strategy (plan) that I backtest and it doesn’t appear to lose money, I will share it on here. The more the merrier.
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Absolutely. I always share my strategies on this forum and/or others. This is not from pure altruism. If 100 traders read what I have posted, I immediately have an unpaid staff of 100 trying to understand and pick holes in my strategy. This can only make it stronger.
And what difference does it make if they all trade the same way? None. If they and I all combined our trading capital we could probably not move a single pair a single pip.
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Did you complete Pipsology?
You may want to go back. The answers to this question are in Pipsology.
What do you mean by better? The trader determines the value of an indicator.
Each trader is different. An indicator that’s good for one trader, may have no value to another.
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If you make trading complex it will look like that to you, keep it simple learn the basics read the backbone - SnR and demand and supply then levels and then retracements. every complex thing has a series of steps just identify that.
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Agreed with the chap above me .
Standard S/R coupled with S/D levels and if you miss an entry the retracments/pullbacks in between.
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Thank you so much. I really appreciate you for your comment
Like you said this has so many answers and would suggest more research and learning should be done. Only the trader can really decide
It is actually impossible to answer your questions in precise and accurate manner, so that you can use the knowledge shared here on practice immediately.
The thing is that you’ve got to have your own trading strategy before enetering the deal. It is essential to plan your actions in advance in order to know all of your steps and having a plan B so that you will be able to hedge your positions if the situation develops differently from your expectations. So, answering your first action, I should say that you’d better enter the market after your trading plan is ready. More importantly, you’d better write down your thoughts before making this or that trading decision in order to be able to track down your workflow in order to analyze it in the future just to improve your trading strategy.
As for indicators, first of all, you need to use several indicators at a time if you want to get the full picture of what is going on on the market. There is no indicator which is 100% right, so the signals which are produced by the indicators should definetely be confirmed by one another so that you don’t make trading decisions according to the false signals. If you are new to trading, I would advise you to use some basic simple indicators like MACD and Moving averages. I believe that they are the most popular and you can find lots of ways how to implement them in trading.
The best time to open a trade is when all of the preparation is done.
I know that it sounds vague but your question is too general as well. Before each deal you’ve got to plan your further actions. So, you’ve got to have some trading strategy which will direct you through the market. Basically, a trading strategy is a combination of different criteria and rules which help you determine when and how to open the deal. If you see some pattern on the chart or your indicators give you certain signals, you start thinking about opening the deal. However, you should also determine your target in order to have a clear-cut idea of what to expect from the trade. More than that, you need to calculate your risks and secure them. Here I strongly recommend you to use risk and money management in order to secure your trading budget from the huge losses. Finally, you need to choose the entry/exit points.
There are so many different trading strategies which you should try to implement and see whether you understand them and whether they are suitable for your trading style.