I worked my way through Babypips and after months I’m profitable on a breakout scalp strategy (trades usually last a few minutes, only seconds on rare occasions) however this works on the US indices, but I’d like to have a strategy for Forex too.
My current one involves using S&R levels with a 500 EMA and VWAP and works pretty well (+10% in 3 weeks) but as it only works on one index it doesn’t allow me much diversity, the trade either works or doesn’t and I’m at the mercy of the market, my real saving edge is a VERY rigid risk management strategy inspired by Michael Marcus.
If it helps, I prefer very mechanical strategies where everything is clearly defined, for example I use a trailing stop on my current strategy where I chase strong candles in my direction and accept whatever I get from.the market, sometimes its 1% sometimes its 5%, but it’s working for me.
My schedule allows me to trade the UK/US cross on the market.
Any help would be appreciated and look forward to the discussion!