Hi, I have been trading the DJ using candle stick patterns but would like something more mechanical. For example, using MA combo crossovers or FIBS etc. Advice appreciated, Regards, Dave
Understand that there is a huge difference in a simple strategy and a profitable strategy. I would suggest you re-word your question. Once you get the answer, please post it for all of us.
Dave I saw your post on moneytec and I will say the same thing to you here that I said there. There is no EASY answer. Trading is a profession NOT a hobby ... dispite what all the fools on moneytech will lead you to believe.
Hi Sweetlettuce, First thanks for your input. I think the question is simple enough as it stands, Choak has provided me with an excellent site with hundreds of strategies to trade. On browsing, I have seen several that interest me. AS you can see, John also has provide a simple strategy (in my opinion) which I will be looking at. These guys seem to understand the question ok. Have you come across the phrase 'Keep Things Simple'. I am not being sarcastic here. As you may well be aware there are strategies/systems that incorporate several types of indicators as well as MA combos in order to confirm whether a trade should be entered or exited. I have used them mystelf, hence my question. Can you explain your statement: 'there is a huge difference between a simple stragegy and a profitable strategy' What is the difference? Are you implying that simple strategies are not as profitable as sophisticated strategies? Your evidence, as Flat 5 mentions, will be educational. I suppose in the end, what might be a sophisticated strategy for one trader, might well be a simple one for another. Horses for Courses. No offence meant by any of my comments
Hi Tradefox, Yes, your right in what you say, I work full-time and trade the Forex market part-time (ie at lunch break during the busy hours). I am relatively new to the trading profession and have already discovered that it is becoming less of a hobby in the sense that you need to be incredibly focused on what you are doing and tryiing to achieve (I'm not sure if this makes sense or not in terms of comparing a hobby with trading). I dare say that there are some traders out there for whom trading is a perfectly legitimate 'hobby' that they perform with incredible efficiency. So I do understand where you are comming from and I am not nieve and taking trading lightly. As a matter of fact at the moment I am enjoying it. My reason for asking for a 'simple strategy' (I realise that it is a very general term) is that I don't have a lot of time during daytime hours to trade the DJI but do have two hours from 7am - 9am GMT after work. Therefore, if I do manage to identify a strategy, I will be delighted.
try EMA cross overs like 10/28, 13/50, experiment and find the crossovers that suits your temperament