Setup For Forex

Hello you very intelligent and amazing people that make up this forum. I truly hope you have had a pleasant week and things are going well for you.

I have spent many months reading books about Forex trading and i believe i am starting to understand the basics. I find it very interesting and once you know what indicators to use and you have your setup, i think it will become more enjoyable. I kindly wondered please if anyone would be very kind to share their setup or what indicators they use for trading Forex and what percentage monthly success you have with your trades please? I have started to formulate my own plan of identifying strong currency pairs and then evaluating them further. If anyone would be so kind to help me with there setup, i would be forever grateful and thankful.

Sending you lots of good wishes and i truly wish you all the very best and massive success with your trading. Hope you have a wonderful life and look after yourself.

FX is a zero sum (or negative when brokers take their fees) trading market where traders either profit from, or lose to other traders. This trillion dollar market is there to take from losers and pay to winners.

As 85% of traders lose money, my trend trading strategy aims to identify where losers would close their trades or get stopped out, by way of order flow which moves price action. Without orders there is no price movement. So a Volume indicator is useful. Hence I use MACD histogram bars with a 3 -10 -16 set up for entry confirmation.

Basically, I seek out previous support and resistence zones - maybe also supply and demand ones - to identify where my T/P should be placed. PSAR balls set up at 0.09 - 0.50. is a visible ideal.

I am a break-even profitable trader, with a c.55% win rate over the last two months, creating a $106.42 profit, which helps to pay my bar bill.

Hope that helps. Best of luck

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I think you should find a system. The system will help you in the direction of what indicators you’re going to use. And you might not use any!

@dushimes has the right idea! check out that Trading Systems section.

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