This strategy should not exist, trading result also be affected by trading mind etc. Bad mind will destory your account.
I use to have problems like that as a new trader. I was more attracted to smaller time-frames as I use to mistake the lot of price action on the smaller frames like the M15 as very good trading opportunities; but this didn't really fetch me good profit then. I really love the potency of the 50 and 200 period on H4 timeframes. D1 timeframes are equally cool.
Your trading strategy resembles someone I know. As long as your trading strategy bring you consistent profits for you I guess my trading strategy is influenced by my research. I am an academic researcher as well and all FX journals report that all big boys employ short-term trading . By the way, I love daily chart too !
I can only comment that a strategy which works with forex trading is the right approach of managing your risks and investing amount according to these associated risks.
Agree. We will not buy an online system, plug it in, and become wealthy! On the institutional level, however, Renaissance Technologies has made tens of billions with totally automated trading. ... but they had one sharp and very brief downswing where they almost temporarily "pulled the plug" to unwind positions. So even Renaissance keeps a close human eye on things.
1. Edges are very hard to find. 2. 95% of retail traders lose money (don't have an edge). who do you think frequents ET? 3. If someone does have an edge they likely won't give it to you even for $ and those who will are usually just scammers without an edge. I'm sure that's not what you want to hear but that's the truth.
Any good strategy for beginner so that we can also test new things of market and learn the market concepts.
Well Pointed Out Andres - You have got to be prepares to Buy Hold - Sell Hold over the Long Term Period as Pointed out on many occasion this is over the Monthly Time Frame as A General Rule - This is How Trading these Derivatives are Designed to work & the Applied Knowledge that is required of you. -
If you are good at reading charts then I recommend forex daily without st or tp BUT closed at the end of each and every day whatever.