So, I’d be more than happy to hear about your trading strategies, advices on this matter and etc.
What is your strategy?
How does it work?
What are pros and cons?
…
My strategy is based on Ichimoku trend trades as it has stood the test of time. My process is comprehensive, but simple to understand in order to send out the same ‘robot’ trades. The only devience is lot size and risk exposure.
Pros - win rates up to 71%. I can scan my selected 12 FX currency pairs in around 30 minutes per day.
Cons - Discipline and patience is necessary as selected trades that meet my strict criteria are few per month.
I would advise any new trader to develop a profitable strategy and a strict process on a demo account and then sticking to them for every trade, before going live.
3 Likes
I’ve been reading more about this lately. Very interesting, but still learning the ropes. So many things to take into account. Can you recommend any good books on the topic?
My strategy is based on combining price action and an indicators . So I draw Order blocks on H4, then use the simple super trend indicator still on H4 to confirm an entry. My entry happens when an order block, and the simple super trend changes color and the candle closes.
During a buy trend, I only concentrate on buy order blocks since I use them for re-entry and trailing. Once the buy order block has been broken, then I wait for the simple super trend to change color and a candle to close. This will be my que to enter sell.
The opposite happens for the buy entry condition.
There more details to this but this is just a summary. Happy Trading!
Pros
It can keep you on a trend for long
Cons
It gives about 3 consecutive losses during consolidations.
1 Like
Basically, I am a scalper and I follow the combination of RSI and moving average to generate signals.
scalping is really profitable , no way to deny but first of all need powerful money management , otherwise any kind of approach can be useless.
Actually, I use multiple trading strategies to forecast the market. For example, RSI, Moving average are common strategies followed by me.
Initially, I depended on copy trading but gradually I developed my thoughts and started trading depending on my own strategy. I follow moving average to know the support and resistance level.
Price action is the best way to trade for me. I identify trends with 50 and 200pd moving averages and draw trend lines along those moving averages lines and I confirm momentum by looking at those trends from 1min timeline to 2 hour timeline
price action is the best and professional way of trading . but to be experienced about this approach is a long term issue , for that reason traders lost interest after passing sometime.
Well, who was your source for copy trading?
1 Like
wow, that’s an unusual one!
support and resistance are demonstrated by the lows and highs of price bars, respectively - and especially by clusters of them around the same levels
how do moving averages help you to identify them?! 
1 Like
Where are you entering? What time frame?
Basically I am a short time trader and don’t have the courage to open a trade for a long term. I follow trend lines and moving average.
1 Like
I think I know what they mean. Some people use it with MA’s in trending markets as a SR guide. When price is rising it acts as support, when it’s falling it acts as resistance. A crossover above or below the MA after a pullback could also signal an entry.
Here’s an example:
1 Like
Actually I follow scalping strategy because I have other profession besides forex trading and through scalping I can gain quick profit on the market.
Care to share any details?
Why not? Why don’t you open a trade for longer time?
So, it works out for you? In the way you expect it?
I am actually flexible in using strategies because the market doesn’t throw same situation always. On average, I follow scalping strategy but sometimes I go for long-term trading and hedging.