Simple system, wait for a Strong move to start, join the strong move, ride it as far as you dare and protect it with a SL and tighten / move to profit as it goes. Hard part, is sitting there waiting for such a move to start. Repeat, 100pt+ moves on YM Monday, nail a few of those at $5 per pt and happy days.
I recently studied the topic of hedge funds, and I realized that big players earn millions on their billions, and millions of small players lose money
Stumbled upon a REALLY easy nice, 7sma based setup via Envelope. Working great on DAX and NQ ( Nas100 ) M1 charts. Envelope 7sma 0.02 and 0.05 and 0.08. Either jump on the 7's direction if Long near the low 0.02 envelope SL out to 0.05 area or Play the Range near the 0.05 if sideways SL out to 0.08 area. You'll need a few days / weeks to get head around when to join or play range and when/where to play ranges. PM me if interested or that's most of it so check it for yourself. * only demo trading this week, next week, back to live all being well.
You need to learn from your past mistakes and also keep in mind warren buffet's money management rule i.e., #1. Do not loose your money #2. Do not forget rule # 1.
I'm coming to think that "strategies" are a poor value way of looking at trading. They are inevitably over-concerned with entry patterns, so most are highly dependent on some off-chart indicator or indicators, many have complicated rules that fail to account for changing contexts and most are focused on intra-day trading. Once you start down the strategy road, "better" strategies must logically be novel, more expensive, more esoteric and more complicated. And whatever strategy you have borrowed, bought, built or stolen must logically be second-rate, so you are driven to hop to the next one, which will be "better". Guess which way I think that leads. My "strategy" is not to find good buys, it is to be in good trades. Which means being long in uptrends and short in downtrends. Basically, if you see a major forex pair chart with the 20EMA above the 50EMA and both rising, I am in there long. And making money. Where to get in is completely unimportant, which makes off-chart indicators pointless. I get out if price closes below the 3EMA, but I'm setting a new buy order as soon as I've clicked the "close position" button.