[QUOTE=dillbilly;23596]I’ve read through the school of pipsology and browsed a lot of the forum, and while I have read of the importance of developing a good strategy, and have read what others use for strategies, I still have no idea how to come up with a good one of my own. I’ve opened several demo accounts to try out different strategies, some based on oscillators, some on SMA or EMA, some on a combination, but none of them end up well.
So what are some good strategies for developing a good strategy? I would imagine that different time frames would require different approaches; perhaps trading the 1 hour or daily chart lends itself to tracking moving averages? Should I focus on shorter cycles on the 5 min chart? I’m sure everyone had a different way of coming up with theirs. What were you thinking when you started it? I’m not looking to come up with a complicated system with ‘guaranteed’ results, I’m just looking to learn the basics so I can create for myself a system that makes me want to keep learning about forex and not chase me off.[/QUOTE
ok 1st you have to know,\do u wanna to see the money right the way or not ???
here it is
three broader categories:
Long term;
Intermediate term; and
Short term = i love dis one, money right the way…yeah baby
Long term
Yearly Charts (each bar = 240 trading days)
Used for academic studies and tests
Monthly Charts (each bar = 20 trading days)
Used by academics and long-term investors
Intermediate term
using for score trading, swing trading
Weekly Charts (each bar = 5 trading days)
Visited occasionally by swing traders and also used by
some long-term investors. We encourage our traders to
visit weekly charts once per week
Daily Charts (each bar = 1 full trading day)
This is the domain of the swing trader. It is where the
swing trader will spend 90% of his time and get nearly
95% of his entry and exit signals
Short term
using for micro trading
Hourly Charts (each bar = 60 minutes)
Visited by day traders at times to eliminate noise and to gain
a clearer perspective of the overall trend. A great time
frame for 2-day plays
Intra-day (15- & 5-minute trading bars)
This is where the day trader and the scalper live their entire
lives. Nearly all entry and exit points are derived in these
time frames
Then u must know where u are trading at im talking about life cycle
sideway then up trend (1st stage )
up trend (2nd stage good money)
sideway then down trend (3rd stage )
down trend (4th stage ending life cycle)
each stage you use diff strategies, it mean if u dont study price move then
all the strategies will be failed sometime b/c u are not using at right time stage.
good luck