I’m new to the game. Still starting out on my demo account. I wanted to get some feedback on the system I’m using and does it make any sense? I was going to post this in the trading systems section, but it looks like it’s mostly just people trying to sell over there.
As I’m looking at the different pairs I’m using the follow…
SMA - 5, 10, 20. I’m looking to see when the 5,10 cross over the 20 as a signal.
Stochastic - The default time ranges, 5 3 3 20 80. I’m comparing this on the crossovers to see if we are in overbought or oversold territory.
RSI - 14 70 30 - My confirmation of the Stochastic.
Parobolic SAR - Another form of confirmation that is quick and easy to read.
I’m basing this as a swing trader who is using the Daily Charts with the 4 hour and 1 hour to see smaller time frames.
Does this system seem to make sense? Too much of the same thing? Should I add something in? Take something out? Switch something out for another indicator?
I used EUR/USD and went back to the beginning of the year. I went through day by day(on the daily chart) to see where my signals would have pushed me to make a move. I identified a couple, and of the 5 I saw, 3 worked out, but again, I’m not even sure if I’m doing that right so maybe I’m getting wrong signals.
most of the beginners try to bring profit with no learning , as a result they become loser after passing sometimes. actually there is no way to become rich overnight by Forex trading.
Have you already defined the conditions under which your strategy works best?
Each strategy requires certain conditions. And the sooner you understand this, the sooner you can adapt your system so that it works most efficiently.
hi, creating and testing a strategy is like an individual “know-how” for each trader and it decides whether a forex trader is profitable or not. Therefore, it will be very hard for you to find someone who will guide you for free through your process of creating and testing strategies, who developed a trial and error method or paid for training to learn it. Of course, sometimes you will get some information about the construction and the historical testing, but it will be more of a small part of the puzzle than the whole process. So if you using daily chart, in my opinion,you should use 10-15 last years data. Regards Greg
After normal work on the demo you will be able to display accurate statistics that will help you assess whether it is worth your time. But at first glance it looks pretty good. So I wish you good luck and deal with all this as soon as possible.