Hi everyone. Although I'm new to this forum, I have been trading for 2 years+ and yes, I've dabbled with many trading systems and failed in most attempts. Are you encountering this situation as well?
Fret not. It's because you haven't found a strategy and risk management that suits you. Maybe not even mine.
However, if you...
1) Have a day job (8-5pm)
2) Prefers NOT to glue your eyes to market charts every moment of the day
3) Prefers NOT to scalp
4) Prefers NOT to follow news
5) Prefers to spend 15-30mins on market movement in total each day
Then you are in the right place!
My strategy is simple. A few things we need to be equipped with.
-Daily time frame. (That's because I hold a 8-5 job and trading is not my FULL TIME JOB.)
-21, 50, 200 EMA (Basically that all you'll need)
-Basic support and resistance lines (Which I will introduce in each live trade)
-RSI (for that occasional spotting of divergence for reversal)
That's it. If you are looking for bombastic words, fanciful indicators, then please exit this thread. Because you won't find them here.
One thing I need to clarify is, I'm not going to introduce a tried-and-proven system that you can load it through the night or through any bots. What I'm going to share here is how to trade trends and retracements, using the indicators I mentioned above. With live trades.
**MOST IMPORTANT MESSAGE**
I'm wont be correct 100% of the time. No traders are. But with the correct stop loss in place, you can be profitable. I am a part time trader, which means I don't have to earn 100k from trading each month, but I earn enough to supplement my monthly salary from work. (Which I'm sure majority of the traders here share the same sentiments)
I don't claim any credit for 'discovering' any of the strategies I'm using here. I'm merely combining strategies that i feel work best for a part time trader like myself and sharing it out loud.
What I am more concerned is NOT the technical know how to make a trade; I'm more concerned with the psychology and risk management behind each trade. That's precisely where accounts are blown.
Lastly, trading can be clean and neat. Patience is the key.
Let's get to work.
April 25-29 updates:
USDJPY: http://www.forexfactory.com/showthre...74#post8890774
EURJPY: http://www.forexfactory.com/showthre...89#post8890789
AUDUSD: http://www.forexfactory.com/showthre...00#post8890800
Fret not. It's because you haven't found a strategy and risk management that suits you. Maybe not even mine.
However, if you...
1) Have a day job (8-5pm)
2) Prefers NOT to glue your eyes to market charts every moment of the day
3) Prefers NOT to scalp
4) Prefers NOT to follow news
5) Prefers to spend 15-30mins on market movement in total each day
Then you are in the right place!
My strategy is simple. A few things we need to be equipped with.
-Daily time frame. (That's because I hold a 8-5 job and trading is not my FULL TIME JOB.)
-21, 50, 200 EMA (Basically that all you'll need)
-Basic support and resistance lines (Which I will introduce in each live trade)
-RSI (for that occasional spotting of divergence for reversal)
That's it. If you are looking for bombastic words, fanciful indicators, then please exit this thread. Because you won't find them here.
One thing I need to clarify is, I'm not going to introduce a tried-and-proven system that you can load it through the night or through any bots. What I'm going to share here is how to trade trends and retracements, using the indicators I mentioned above. With live trades.
**MOST IMPORTANT MESSAGE**
I'm wont be correct 100% of the time. No traders are. But with the correct stop loss in place, you can be profitable. I am a part time trader, which means I don't have to earn 100k from trading each month, but I earn enough to supplement my monthly salary from work. (Which I'm sure majority of the traders here share the same sentiments)
I don't claim any credit for 'discovering' any of the strategies I'm using here. I'm merely combining strategies that i feel work best for a part time trader like myself and sharing it out loud.
What I am more concerned is NOT the technical know how to make a trade; I'm more concerned with the psychology and risk management behind each trade. That's precisely where accounts are blown.
Lastly, trading can be clean and neat. Patience is the key.
Let's get to work.
April 25-29 updates:
USDJPY: http://www.forexfactory.com/showthre...74#post8890774
EURJPY: http://www.forexfactory.com/showthre...89#post8890789
AUDUSD: http://www.forexfactory.com/showthre...00#post8890800
I hold a 8-5 job. I trade 90% daily, 10% H4; 90% technical, 10% fundamental