Share your stratergeis here !!!
- Thread starter Forex.cool
- Start date
i have a decent forex trading career but dont know whether i qualify as an expert to teach the newbies here anything. I am in the learning process too. ( because in the world of forex trading, learning never stops!! 
)
but the penulitmate forex trading strategy (rule no. 1) i use while trading comprises of 4 words and is: EARN MORE, LOSE LESS :gunsmilie:
keep a tight check on your T/P but even a tighter grip on ur S/L.
imo, forex trading strategies may not require very HIGH Funda analysis &/or strategies but few simple rules to remember AND practice them as well.
well, these were a few from my end, looking keenly forward from the fellow traders to share their expertise
Thankyou.
)but the penulitmate forex trading strategy (rule no. 1) i use while trading comprises of 4 words and is: EARN MORE, LOSE LESS :gunsmilie:
keep a tight check on your T/P but even a tighter grip on ur S/L.
imo, forex trading strategies may not require very HIGH Funda analysis &/or strategies but few simple rules to remember AND practice them as well.
well, these were a few from my end, looking keenly forward from the fellow traders to share their expertise
Thankyou.
Simple effective strategies
STEP 1
Open up a daily chart
STEP 2
Add the following indicators on the chart.
- Bollinger band (20,2) - Stochastic Oscillator (5,3,3)
STEP 3
Look at price touching upper or lower band for the first time.
If price touches upper band, wait for following candlestick to open. If bearish enter on next candlestick opening making sure stochastic has just started heading down.
If the price touches the lower band, wait for following candlestick to open. If it looks bullish then enter on the next candlestick opening, making sure stochastic has just started its way up.
Note: This strategy works with any timeframe, however I find it much more accurate with the higher timeframes such as 4hr or daily.
Stop loss for this strategy is placed at the nearest swing high/low.
Profit taking depends on the trader. I personally use the Fibonacci expansion as a profit taking. Some of my fellow traders usually take half of their profit as price touches the other end of the band and let the remaining lot run reducing their stop loss to the nearest swing high/low.
STEP 1
Open up a daily chart
STEP 2
Add the following indicators on the chart.
- Bollinger band (20,2) - Stochastic Oscillator (5,3,3)
STEP 3
Look at price touching upper or lower band for the first time.
If price touches upper band, wait for following candlestick to open. If bearish enter on next candlestick opening making sure stochastic has just started heading down.
If the price touches the lower band, wait for following candlestick to open. If it looks bullish then enter on the next candlestick opening, making sure stochastic has just started its way up.
Note: This strategy works with any timeframe, however I find it much more accurate with the higher timeframes such as 4hr or daily.
Stop loss for this strategy is placed at the nearest swing high/low.
Profit taking depends on the trader. I personally use the Fibonacci expansion as a profit taking. Some of my fellow traders usually take half of their profit as price touches the other end of the band and let the remaining lot run reducing their stop loss to the nearest swing high/low.
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