Hello fellow traders. I have been trading for 3 years. These three years were assigned to learning, while trading my live accounts. I have scalped, then changed to day trading, then swing trading. Expriemented different strategies. I am proud to say because of a clear understanding during the process I did not lose money. I won quite some trades but because of inconsistent approach i ended up giving it back. Anyways I was knowingly working on these matters as I wanted to find a method that best suits me as I am working full time and have time constraints.
I had known for the past whole year that no matter what method I use as long as I provide consistent approach with nice Money Management I would make money. That was probably my graduation time. I did make money on any method that I used consistently with good MM.
Finally for the past two months I have felt very comfortable using a method on which I trade. Not complicated and I do not enter trades strictly based on that. But that’s where I start.
I am going to post my trades here and discuss with anyone interested and make some forex buddies. I am sure using good MM we can easily make money provided you have a clear understanding of reading charts.
So, Without further ado here we go…
Charts I use: 4hr and Daily. I do not look at any other charts.
Indicators: 200 MA. 8 & 21 EMA, Slow Stochastics 15,5,5 and ADX
Patterns and other Important factors: Most important one is Price action. Different candle stick patters. Pull back which creates a triangle or channel. Trend lines. fib time to time. Double tops and double bottoms.
System#2
Charts: Daily
Indicators: BB 20,2, Stochastics:10,3,3 MACD 12,26,9, SMA 200, Trendlines, candle sticks
Please remember this is not a solely mechanical system. I weigh fundamentals and keep an eye on the news too. I prefer to trade in the direction of trend however I will trade counter trends if they are attractive.
So, Lets’ begin.