But we have usd news at 15.30 (GMT+ 3)
I will try to describe one of the trading strategies that I have found to be useful. It is called trend following.
Basically, it is buying an asset when its price trend goes up, and selling when its trend goes down.
For me, however, it is more than that, not just following a trend, I do detailed analysis using my EA.
Right now, NZDJPY and EURCHF show a downward trend continuation. My EA, however, indicates that these are not the best selling opportunities. You can have a look at it and sell if you are convinced there is an opportunity to do so.
I would recommend a risk taker to trade NZDJPY
With stop loss at 81.944
I have a telegram channel, for those who joined recently, I have not been posting any signals there for two months now because I was working on my code. I will start sharing many signals through the channel from next week. I work from Saturday to Monday but I am free from Tuesday to Friday. So I hope to be able to share many signals there on those four days. All of then will be trend following signals. I will also be able to offer some explanations based on the knowledge I have so far. anyone can also ask me a question. Thanks for taking time to read all my posts.
I believe my EA will work well in the weeks ahead. One way it helps me is that it measures momentum and identifies support and resistance. for instance, it pointed out this resistance here and I expected some retracement for NZDJPY even though it had a strong bearish momentum. That is why I didn’t trade NZDJPY
So trend following works this way, you can see what happened to NZDJPY (but I would like to point out that I usually close my trades within 2 hours) Lets meet next week on Tuesday.
I note this thread consists of over 400 posts. I am sure readers will be fascinated to know whether you have managed to demonstrate a positive edge from your trading. As has been asked by others before, do you have a summary of your trading account results to date? It would be fascinating to read and analyze your trades, but without an indication of results, it is pretty pointless.
Hi @Mondeoman. Thanks for the feedback. As I said, I have been working to create several trading strategies. I attempted scalping but it wasn’t successful. Trend reversal and trend following have proved profitable.
I see you are interested to read and analyze my trades. For that matter, I think I should have one or two accounts dedicated to trend following and share the links to those accounts. I will do that from next week. I will share myfxbook account and mql5 link.
I will also have another thread specifically for trend following.
Again thanks for the feedback.
A pleasure. I look forward to seeing your results. Thanks for quick reply.
I did not manage to do the work last week. I hope I will be through with it soonest.
This is one of my last posts here
I would like to make this clarification. I trade forex. In addition, I have a full-time job. Through some arrangements, I work from Friday to Monday, two shifts a day so that I can be free from Tuesday to Thursday or Friday and focus on forex.
Apart from earning a living from employment, I get some cash from forex and I use that cash to pay bills. For instance, my electricity bill is just $10, my water bill is just $3.5. Earning just $100 in a month is sufficient to take care of all my bills. That is how I came up with the topic for this thread.
Aside from that, I have had an interest in forex trading for years. I have written several EA including the one I am currently using for analysis.
Early this year, I discovered a trend-following strategy that is easy to understand. It works like this, find a trend continuation, analyze yesterday’s market movements and decide if you will open a position or not. However, I started to work on trend following last year around November or October. To encourage somewhere interested in learning forex trading, I would like to tell you that trend following is not something you master in days or weeks. But with time, you can perfect it or find a way to combine the strategy with another one, especially for those that scalp (for me, scalping never worked).
I have created these two accounts to find out if we can demonstrate a positive edge from this trend following strategy. I will transfer more capital from my other accounts to these two accounts with time.
My name is Haron and I am from Kenya.
If you have a good strategy you can share, please do so. I am eager to learn.
For someone so self assured about your strategy your ambitions are so humble enough to pay your bills
Give us your telegram channel link.