jakebvt, yes there are strategies out there and I have one of them.
Are you a day trader or a Swing Trader? what has been your strategy?
Most of my frustration in trading came when I used to Day Trade. No matter how many strategies I tried, I kept losing money despite periods of moderate success. Each time I zeroed my account after my latest new strategy, I often felt like doing this to the computer…
Day Trading is just took difficult. The number of things that this approach requires you to consider each day-news, Support, Resistance, confluence of indicators etc.- puts too much pressure on the trader and his strategy.
After switching to Swing Trading instead, trading became a lot simpler for me. Trading gains were more consistent, trading stress was significantly reduced and more time was spent actually earning money.
After demo trading for awhile to develop a clear strategy based on the Daily and 4 Hour Charts, I started going back Live in July. With only 8 trades made - almost 600 Pips coming from the last 7 trades - I and my fellow traders are up 22%.
(No trading was done in August)
The latest of these came on Thursday on the GBP CAD which gave us 199 Pips in 3 days;
A demo account, which tracks these Live Account trades (behind by 4 trades), is also moving up steadily.
On both accounts, only 8 trades would be required (assuming no losses) for a 100% return in the early part of 2015.
Swing Trading has several advantages over Day Trading. You can keep emotions in control because you dont trade everyday, allowing you to calmly focus on the best trades with more objectivity.
I also use Candlestick Patterns and Price Action. These allow me to identify the patterns and signals that provide the best opportunities each month, without having to deal with the conflicting signals of statistical indicators. The main aspects of the strategy are;
[ul]
[li]Identifying the Trends and Signals using Candlestick Patterns and Signals;
[/li][li]Waiting on the Daily and 4 Hour Charts for Market Direction and Entry Signals;
[/li][li]Targeting 100-200 Pips per trade;
[/li][li]Trading the Weekly Range of each Currency Pair;
[/li][li]Holding Trades for a Pre-Determined Maximum Period of Time;
[/li][li]
[/li][/ul]
Have a look at my trades in the Trade Journal and Swing Trading thread…http://forums.babypips.com/trade-journals/68590-swing-trading-results-price-action-strategy-2.html#post670894
Use the strategy on Demo Account, compare to other methods and I am sure you will be profitable.
Duane aka DRFXTRADING