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My trading strategy


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14 replies to this topic

#1
dhanpreet

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given below is my trading strategy.


1. Know the direction of the primary trend of a currency pair.

To determine this every day I analyze 22 currency pairs across 8-10 timeframes with simple trend indicators, by groups, i.e, USD pairs, EUR pairs, CHF pairs, JPY pairs, etc.

2. Then I set price alarms at critical support and resistance areas, usually S1 or R1 and check the larger timeframes for pip potential using the same indicators.

3. I monitor the news calendar for volatile news announcements

4. When the price alarms go off and the volatile news items hit, and generally after the London market open, I check The Forex Heatmap ™ for entry verification.


This method works for very well for hundreds of traders because you analyze the market thoroughly once per day and use almost no technical indicators, just simple trend indicators and entry verification using a real time visual map of the spot forex..

Hope this information is helpful, the method is becoming quite popular.
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#2
omarelalfy

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This method works for very well for hundreds of traders because you analyze the market thoroughly once per day and use almost no technical indicators, just simple trend indicators and entry verification using a real time visual map of the spot forex..
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#3
chuna

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I must confess that you have put down a very nice strategy. It's well worked out at all does. I prefer applying several strategies that i feel it's right for a specific trend or period in the market.
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#4
yogesh

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Yup I am quite convinced by the strategy laid down by you.
And infact i always set my target and stoploss near the resistance and the support level.
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#5
luckyvoy

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I dont know much about forex though but i understand well
that while doing online trading R1 and S1 are most important as these indicates the target price
where you close the trade with order, and S1 is support level below which you should exit to avoid bigger loss.
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#6
standart

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my trading method is based price movement between support and resistance. because according to me, despite a pair has high volatility the movement is always form a wave. wave have low peak and high peak or it called support and resistance. I make order and close when the price in highest and lowest peak.
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#7
ellliottt

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In my opinion you have complicated your strategy. What is the necessity to look at 22 currency pair when you are not going to trade in all of them.

My strategy is simple. Analyze the one I am trading. look at the weekly chart, daily chart and the short term intraday charts of any duration.
main trend is determined by weekly charts, then rest is used to play both the sides of the intermediate trends that happens during the day.
shortest preferred duration is 1Min, 5 min and 15 Min charts. If one does not like this, they can have their own choice as they work well if one uses it regularly.

I trade only one pair most of the time. I give little time on Fundamental, but that is a few minutes a day. Analysts, I avoid them like plague, although I listen to the nonsense they dish out.


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#8
winning11

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Your strategy is very plausible. I would like to know if it proves to be succussful in the real account and what is the return of it. What you have described is pretty vague. How can we newbies carry that outin detail? For example, how can we interpret the major news? Thank you!
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#9
budado

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In my opinion you have complicated your strategy. What is the necessity to look at 22 currency pair when you are not going to trade in all of them.

My strategy is simple. Analyze the one I am trading. look at the weekly chart, daily chart and the short term intraday charts of any duration.
main trend is determined by weekly charts, then rest is used to play both the sides of the intermediate trends that happens during the day.
shortest preferred duration is 1Min, 5 min and 15 Min charts. If one does not like this, they can have their own choice as they work well if one uses it regularly.

I trade only one pair most of the time. I give little time on Fundamental, but that is a few minutes a day. Analysts, I avoid them like plague, although I listen to the nonsense they dish out.


If you are a newbies its good to trade one pair only to familiarize yourself on trading and to develop your own instinct in forex trading. Later on when you are good in reading and trading in forex you can add more and more pairs. Now the reason for this is opportunity. That means you wait for the big reversal and you can do that by monitoring as many pairs as you can and jump in like a hawk when you found a potential pair to trade.
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#10
heartboy23

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This is a cool strategy. thanks for sharing this, i guess you have skill in what you doing
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#11
budado

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given below is my trading strategy.


1. Know the direction of the primary trend of a currency pair.

To determine this every day I analyze 22 currency pairs across 8-10 timeframes with simple trend indicators, by groups, i.e, USD pairs, EUR pairs, CHF pairs, JPY pairs, etc.

2. Then I set price alarms at critical support and resistance areas, usually S1 or R1 and check the larger timeframes for pip potential using the same indicators.

3. I monitor the news calendar for volatile news announcements

4. When the price alarms go off and the volatile news items hit, and generally after the London market open, I check The Forex Heatmap ™ for entry verification.


This method works for very well for hundreds of traders because you analyze the market thoroughly once per day and use almost no technical indicators, just simple trend indicators and entry verification using a real time visual map of the spot forex..

Hope this information is helpful, the method is becoming quite popular.

22 pairs is just too much for me. I prefer to use only one pair and that is eur/usd. If I have more funds and more time then I'm going to add other pairs. But right now I only prefer to trade one pair per broker site. And I have three active broker sites right now and two of them I trade eur/usd and one I trade usd/cad.
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#12
ATSATS

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my trading strategy is so easy. i always sell and buy with take profit. i don't take stop loss. my invest is low for this reason i don't take do or die position. when price up my buy position will close with profit and when price down my sell trade will close with profit. its my simple method. i am new and now i am learning about forex more and more. in a few days i will discover a powerful strategy which will be helpful for mine. i am so working hard to learn forex trading as a specialist. i know i will success one day.
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#13
euro

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This is my strategy. I trade on Monday or business days as there are more trends movement. I trade when there is a good bullish trend and I buy more than sell upon entry. I also know when to enter and when to exit. I use stop loss. Stop loss helps me a lot. It helps me when to exit the trade and when to enter the trade. I read the graph only and so far it works for me. I use a few indicators. I keep up with news to catch all the price changes and movement. I trade during Asian market time. 


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#14
francmorio

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given below is my trading strategy.


1. Know the direction of the primary trend of a currency pair.

To determine this every day I analyze 22 currency pairs across 8-10 timeframes with simple trend indicators, by groups, i.e, USD pairs, EUR pairs, CHF pairs, JPY pairs, etc.

2. Then I set price alarms at critical support and resistance areas, usually S1 or R1 and check the larger timeframes for pip potential using the same indicators.

3. I monitor the news calendar for volatile news announcements

4. When the price alarms go off and the volatile news items hit, and generally after the London market open, I check The Forex Heatmap ™ for entry verification.


This method works for very well for hundreds of traders because you analyze the market thoroughly once per day and use almost no technical indicators, just simple trend indicators and entry verification using a real time visual map of the spot forex..

Hope this information is helpful, the method is becoming quite popular.

Thanks For sharing such a valuable information, I guess I'll have to copy this,, with due respect!


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#15
francmorio

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On my side, I stair Formation

How To Trade Stair Formation

This is just another candle stick pattern that can be useful towards your understanding of the forex market. It is not the holiest grail, but it will help improve your understanding of forex.  Just the same way a normal stair consist of  a set of steps leading from one floor of a building to another, in forex, stair formation consist of a set of three candles leading  to the direction of the overall trend.

You will notice in this example, I’ve only used bearish stairs for illustrations; this does not however mean, there are no bullish stairs. There are several bullish stairs; this is just a perfect case of stair formation that’s why I choose it.  A Bullish Stair formation should look like below

Bullish Stair Formation

Bullish-stair-192x300.jpg

Bearish Stair Formation

Stair-Formation-188x300.jpg

The Phases To Stair Formation

Stair-phases-170x300.jpg

How to trade Stair Formation


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