Regards to all you wise and experienced traders. I'm brand new to the forex trading. In the past 3 weeks I've read more than 20 books on forex (I'm pretty bookish like that though this is the get down and dirtly kind of sport - if one can call it a sport) and already have started with the demo account. What I am looking for is a set of indicators/system that I can believe and that would be correct most of the time. I have a really hard time putting trades right now because I feel like I don't have a solid base for my trading (might as well be called gambling up to this point) decisions I looked at the ET forum in a few different places, but can't seem to find anything (maybe I'm not looking in the right places). Although the thread title suggests the opposite, I don't believe the holy grail exists (besides the forum member by the same, very catchy name). But I realize that this is my "idealistic", holy-grail searching time. I'm sure, just like any bull market, the time for searching for the perfect system will come to an end. Any other "counter intuitive" information that you all have learned from your own trading trials and tribulations would be IMMENSELY appreciated. Thanks, G
Check out http://rockwelltrading.com/ He has written a book which I found at my local library. He presents a simple strategy which he explains and you can backtest yourself and or follow in real time. The jist is buy the upper BB (10,2) when MACD is above zero and the signal line. Conversely sell the lower BB (10 day 2 SD) when MACD is below zero and the signal line. 5 minute bars or various tick charts based on which market. His objective is 15% of average daily range with a stop of 10 percent of average true range. Watch his videos and check it out yourself. It looks reasonable to me.