[B]The trend is your friend.[/B]
this is my first contribution to this forum. The strategy/system i use is trend following, in it’s many ways.
I would recommend you all to read Michael Covel’s book called just that, Trend Following. It’s an exellent book, though I’m not quite sure if Michael was the right man to write it. He tends to get rather fanatic, and write things like: fundamentals are useless. And when faced with the question of how Jim Rogers got so rich, even though he did not use techinical analysis, his answer is: “Can you emulate Jim Rogers?”, avoids the question like a politician.
Now to the point. I usually define trends with either trend-channels, or moving averages (40 bars) , and moves in it’s direction till it bends. Covel has a point when he says that it is one of the extremely few systems that works in “every” market situation. One can teach this to a 8 year-old.
When you have tried it for a while, you can start trading within the channel. For that I use mainly stochastics and candlestick-reading, to increase your profit.