I am a new trader to the forex market and was just wondering whether this system i propose work well in the long run.
-In this trading strategy, i simply place 2 Simple moving averages with parameters of 50 days and 100 days.
-I will trade only the 1 hour time frame chart and a 1 day time frame chart
-Enter when the fast SMA crosses over the slow SMA (when 50 day SMA goes crosses above 100 day SMA, I buy it to go up and sell when the 50 day SMA goes crosses below 100 day SMA)
-the 1 hour time frame is my short term trading while the 1 day is my long term position
I have been just trying to learn and create my forex trading strategy but the more complicated i make it, the more money i loose (my opinion) therefore i simply thought that SMA crossovers is the simplest way of profiting from trading.
For those experience traders out there, can you give me some feedback as to what you think? does it work? or what other strategies do you propose?
-In this trading strategy, i simply place 2 Simple moving averages with parameters of 50 days and 100 days.
-I will trade only the 1 hour time frame chart and a 1 day time frame chart
-Enter when the fast SMA crosses over the slow SMA (when 50 day SMA goes crosses above 100 day SMA, I buy it to go up and sell when the 50 day SMA goes crosses below 100 day SMA)
-the 1 hour time frame is my short term trading while the 1 day is my long term position
I have been just trying to learn and create my forex trading strategy but the more complicated i make it, the more money i loose (my opinion) therefore i simply thought that SMA crossovers is the simplest way of profiting from trading.
For those experience traders out there, can you give me some feedback as to what you think? does it work? or what other strategies do you propose?