I use 3 MAs, MACD and RSI
My only indicator is candlestick chart. If I want to add more, then support and resistance. I tried using moving average in the past, but the profit is not consistent.
I still find this impressive and have incoporated it into my trading after reading your mention of this in another thread. For lack of a better description I use it almost like a compass for trend direction and intensity or lack there of.
Do you use it as a price cross strategy or PA and candle formation for turning points or is there another way that you may interpret it?
tx,
KC
I never use the 50 as a price/MA or MA/MA crossover entry indicator, rather as a set-up indicator. So if price crosses above the 50, I start looking for an entry point, but the crossover is not the entry point. Likewise for exits, though I’m rarely still in a position that has deteriorated so badly that price crosses below the 50.
Right now, unless I can find a really concrete reason not to be in the trade, I’ll be looking to get long on every significant forex pair with an upwards sloping 50 (which almost certainly means price is above the 50 too). And vice versa.
I’ve got to think these days that entry patterns are relatively unimportant - what counts are reasons to take profit and reasons not to get in in the first place.
I use trending following and RSI.
I just use Price Action and S and R really.
Sometimes I will use RSI to check for divergence
Thanks for sharing. Haven’t had a chance to give this a look, but I will.
Yea, still not comfortable with it. I need more practice for sure.
That seems like a considerable amount of time. I imagine you tweaked along the way. Why the change of heart?
This is impressive.
All you will see are horizontal lines placed on my charts.
I’ve been reading your posts and I think your trading stye is interesting. I sure would love to see how you do it!
Do you have any plans of creating a separate trading journal here?
Hmm… that is an idea. Although, the way I trade my managed funds wouldn’t really be applicable to the average retail trader.
I do however trade for myself with smaller positions and I do have a strategy that managed to make me profitable and get my foot in the door 18+ years ago as a retail trader starting with a mere $300 account.
You’re probably right. Still would be pretty interesting to see how you do things.
Maybe, it’s just an unexplored way but then you could enlighten us about how we could also become consistently profitable with that kind of style.
Hahaha. Although, it sounds complicated.
Moving average crossovers are the best! Use low periods like 4 - 10 on high time frames like H4 and Daily, add a bit of discipline and follow the price!!
Nice to know! No doubt, trend line is simple but much useful! I also use this tool in all of the time frames!
Interesting. Can you share more? Supply and demand zones? SR?
That’s exceptional! Many could benefit from some details about your system. C’mon, you know you want to!
Interesting. Do you team this up with anything else?
Nope, not even fundamentals. Seriously if you are not a market maker the news will confuse you a lot. Pick a currency or commodity with high volatility and trade with MA crossovers.
How news can help market makers to make money? By changing spreads in order to match supply-demand changes?
I don’t think only this type of strategy is enough; having a chart reading skill is very important if we wanna trade without news trading knowledge!
Hello
someone know this indicator for BO & forex
Trust me, less is more. My trading has improved over the past few weeks since I decided to ignore the news. Strictly technical analysis henceforth, I am tired of fake news.