A Free Strategy that works

[Maxue]

This strategy should not exist, trading result also be affected by trading mind etc. Bad mind will destory your account.

 

[PipLord]

I don't know how you can make consistent profit with H4 timeframe.
I mean I haven't found a way to make a consistent profit with H4 timeframe. But if you know how, that's good for you

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.

 

[victorycountry]

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 !

 

[alfa8]

Don't believe in news too much; just like Michael covel said, just follow the trend and then you'll make money regardless of news, market condition...

I always follow the trend and the most of time, I predict the next price movement really accurately.

Just my two cents is that if you're looking for some cheap strategy, use the combination of bollinger band and moving average; at least you won't lose your money and will make some good profits; have some research on these two indicators; Some people suggest the use of volume, but volume isn't a good indicator, it only confirms what just happened...following the price movement is better

Good luck

Victor

I wonder if Michael Covel ever followed a trend?

 

[bublu]

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.

 

[777]

That's what the whole thread's about.

Mysteron's post at the top of page 2 is the one the OP needs to read and understand, but he won't like it.

The theory that finding a system that "just works", and copying it, can profitably be executed instead of gradually acquiring patience and discipline, understanding, experience and education, is all too widely believed.

Systems don't "work": traders do.

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.

 

[pursuit]

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.

 

[Esha.J]

Any good strategy for beginner so that we can also test new things of market and learn the market concepts.

 

[peter matthew matty]

You may not be a candidate for short term trading. Eventually, trading short term is a burnout because of the affect that it's randomness and uncertainty has on the reflexive/cortisol circuit and the constant dissonance that it creates in the decision making circuit. One ultimately should migrate to a longer term time frame, as life changes and we acquire new interests and responsibilities that take up the time that was allotted and "needed" for trading. As longer time frame investing is a different animal, attempting to learn it during the "life changes" and "responsibility" period is difficult to do and it is probably best to start when you are doing the short term thing, so you will be able to have a smoother transition.

Investing using tactical allocation over longer term time frames / holding periods utilizes the geometric compounding effect and the higher statistical probabilities of forecastable outcomes that accompany dissemination of information; information that is driven by fundamentals and monetary policy that becomes embedded into the "trend". Information dissemination in the equity markets over the "short term" is random. The riding of a major equity driven trend, then strategically moving to cash/bonds in infrequently occurring ( sometime deep ) declines, and then subsequently strategically buying in after the macro "bottom" has occurred, can cumulatively add up to same returns as many lower probability "scalping" type affairs attempted in "trading".
The ETF's that can be used for a longer term focus - QQQ and VRB - represent the highest decile return stock universes; the small cap value universe ( VRB ) showing evidence of alpha premium vs. buy and hold benchmark back to 1927, and the QQQ ( back to 1985). The constituents of the QQQ ( Nasdaq 100 ) have always included the best mid cap growth stocks in the world (AAPL, AMGN, GOOG, MSFT, TSLA for example ). No need to pick individual stocks.

I "traded" in the past, but ran into the "life constraints" that I described above and have found that benefits of the longer term tactical approach free up my time and ease my mind by the much fewer decisions that I have to make.

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. -

 

[Humpy]

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.