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Need Trade Strategy

FinanSquare
Nov 03 2010 at 15:44
11 posts
Yep! Completely agree with Chikot!
Trading without Stop Loss isn’t trading… it’s the “hope I’m lucky today” strategy, more like going to a casino and make a hot chick kiss the dices... It’s like playing Tennis without the net or the court lines… Simply no sense at all!

Trading it’s all about taking decisions, we take decisions based on facts not on hopes, if the price broke a support level and had retested it as a resistance the fact is that the price SHOULD drop once again... that’s the reason why we decide to sell, if the price do not drop and go bullish… then the reason is invalid and so the trade, that’s why we use a stop loss.

And for new traders, a strategy will never make you profitable… It’s like if you ask Michel Jordan for advice on choosing the right basket ball to become a NBA Star.
First things first, you need to know the rules of the game (market basics: what moves the price in Fx markets, order flow, support and resistance) then play the game following the rules.

They are a lot of strategies but they all have the same basic concept, price action.
Learn the basic concept and you will find the strategy that fits your personal psychology.
And that my friend (friends), is the big difference between the 90% of losers and the 10% of winners, 10% knows what they’re doing, 90% don’t have a clue!

wilfredoaa (wilfredoaa)
Nov 04 2010 at 17:17
82 posts
I created a simple strategy.. my thread is here https://www.myfxbook.com/community/new-traders/simplest-forex-strategy/63720,1

Grace is the greatest thing ever!
Alanfx1
Jun 08 2011 at 21:49
104 posts
The tip is there are no tips.
Study and study hard again.
If you don't know what you are doing it's very dangerous.
No matter if you win or lose when you don't know for sure why that happened, you may have lucky believing that is talent.
There are a lot of good books out there, find those that will help you become a better trader.
I love Point & Figure, ADX and ATR, that's because I know when they work and why.
My library is allways getting bigger, no matter the experience I have.
I'm always looking to the past,and to the next future 10 years at least.
All that help me trade day by day and keep me on the tracks.
Have a nice study.

Tradingboy





I Trade You Profit. Forex is suitable for smart and patient people...
Gary Sharp myfxpt com
myfxpt
Aug 09 2011 at 21:50
345 posts
I have used Ichimoku Kinko Hyo for about 18-months and it works for me. I combine IKH with Heiken Ashi and MACD, and apply to 1-hour and 4-hour timeframes. My stop-loss is set just below the Kijun Sen (uptrend) or just above (downtrend), and this trails the Kijun Sen. Exit occurs if stop-loss is hit, or Tenkan Sen crosses the Kijun Sen. Heiken Ashi colour helps time my entries, whilst MACD confirms. At first sight IKH appears complex, but it is actually a very simple method to use. Want to learn about IKH? Check the link below:

https://www.kumotrader.com/ichimoku_wiki/index.php?title=Main_Page

Don't you just love free information of this quality?

zzzero
Aug 10 2011 at 06:53
1367 posts
i could also use a decent strategy.

thank you.

sudip02 (sudip02)
Sep 29 2011 at 17:22
16 posts
as a new trade i am also looking for some good indicators and system too... anyone pls give me some ideas

Adolf
daily_martingle
Oct 08 2011 at 19:10
239 posts
i have to say : bravo
you are holding this account with manual trading for a year now. that is not a thing that every trader could do. and you increase your balance up to 70%.
your problem now is that u have a very big DD , you should use hedge and martingale system together for avoid big DD , (if u dont using Stop losses)
when you are getting a signal from your manual strategy , instead of SL use sell stop (same Lot) in buy orders or (buy stop) instead of SL (same lot) in sell orders , to hedge your trade , in case of the market goes the opposite direction. hold trading until next signal , and increase your lot size twice , also use hedge order instead of SL. in this method you can always manage your account and avoid losses and DD.
for example take look at to my live system which uses the same thing.
 https://www.myfxbook.com/members/daily_martingle/wallstreet-real-pamm-system/141429

Adolf
daily_martingle
Oct 08 2011 at 19:14
239 posts

   sudip02 posted:
   as a new trade i am also looking for some good indicators and system too... anyone pls give me some ideas


i have many systems , let me know your E-Mail address and i will send you a few good systems. its good to start with

lbeemaraj (lbeemaraj)
Oct 10 2011 at 07:33
1 posts
@Bijan,

Please send it to my id too.

jbofcak
Oct 11 2011 at 18:19
5 posts
to Bijan,
i am interested in too, if you have time send me please your advise about the systems.
Thank you a lot in advance
JB

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