Thanks everyone for your feedback so far. I had no idea how active this thread was going to be once I posted.
I have examined multiple systems since I started this post. And while there is no ‘holy grail’ trading system, I think I have found some things that will work well for me.
When it comes to trading, i’m fairly stupid as I have already said. So anything I need will have to be simple. Many systems I have examined are overly complex. But some of the systems I have investigated are simple. And some of the simple systems seem to overlap on content. Meaning, they use similar methods for trading. I think that these strategies I have looked at are all valid in their own right.
After examining these systems. I have found these truths:
Support and Resistance are generally good for trading, although subjective at times.
The HIGHER time frame is the way to go. All I did was try to scalp for 6 months and got nowhere. Even examining the 4 hr chart was confusing at times.
Some systems I examined used Elliot Waves, which I found super confusing and a bit beyond me. Other systems examined the Monthly and then Weekly time frame for entries, which seems pretty good.
Other systems use simple Moving Average crossovers such as the 8 EMA and 20 SMA, in conjunction with S/R.
Another system I examined dealt with breakouts, S/R, and “The Last Kiss” (retest) before entries.
All in all, they all seem to be good trading methods. I think now what I need to do is pick a method that speaks to me at this point. Definitely will be trading the Daily TF, or possibly the 4 hr. Will definitely be use S/R. But the question is drawing s/r on which time frames.
Would the Currency Strength Indicator be of any use in pairing a stronger currency with a weaker one?