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My trading strategy


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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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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  • 6 months later...
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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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  • 1 month later...

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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  • 5 months later...

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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  • 11 months later...

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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  • 3 years later...

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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For where in running forex trading is where we should run is we must always be routine in learning, remind not an instant business on the run, the availability of risk is very large traders continue to do in the learning process so we can better understand again will more profitable trading performance and able to survive in the forex business

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  • 2 months later...

There are lot of strategy for successful trading. But I just want to know what id the best strategy can be applicable all the situations for short term profit like hourly or day trade?

Do you have any template of that which can be loaded to Metatrader4 would be appreciable. 

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  • 1 month later...

Where to trade I always to try to learn on the run, business forex business is a very big risk that there is, so keep on beradin the existence of a routine learning process to make us able to trade better, forex trading takes the stages in a good learning process for we want to learn in this way forex trading

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  • 2 years later...

Many traders don’t use proper trading strategy rather depend on gambling. Gambling can give short-term success. But long-term results may be inconsistent. So, try to develop a good profitable trading strategy through a demo trading account. Almost all brokers like Eurotrader in the forex market offer it to their traders for free. Always start trading with demo account after that invest small money in real account.

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  • 2 months later...

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