Its a question… is there any easier system of indicators or strategies you came across that works for you to trade indices and/or Gold. Cauz what i see trying my way around it is that its at its own whole different level… alot of what words on forex doesnt work on indices and i really wana conquer that cauz return is alot better in indices then forex… your thoughts??
FYI… if you are that “I’m mightier then though cauz i trade price action and indicators are crap!!” Guy then please stay away from this post… some of us are not as smart as you and indicators help us…
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I trade DAX & FTSE at the London opening for an hour or so. Set up as follows:
Charts - Daily for the long term trend and 1M for the scalping entry and exit.
Undicators: 25EMA, PSAR 0.09 - 0.40. RSI 10 with 50 line only - above is bullish, below is bearish. MACD histogram at 3 -10 -16, entry and exit points.
Heiken Ashi candles trend with the EMA 25.
All indicators must correlate as to the probability of being on the right side. As the Daily trend is key, I would trade more 1m in line with the Daily trend, than against it - say a 60-40 split. The DAX is a minimum of 0.2 lots and the FTSE 0.3 lots. On a trade trend aim to bring the S/L to breakeven plus one pip while continuing. That guarantees profit. Close losing trades when more than one indicator goes against the trade.
Best of luck.
BTW - the MACD, and PSAR are designed to be, at most, a 1M time lag, and the RSI being closer to actuality.
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Building strategies on indices is easier than on forex, but you have to use quality tools to do this properly. Indices and gold are different markets, so you have to build strategy on indices and gold separately. Regards Greg
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