ALL YOU NEED TO TRADE IS A HORIZONTAL LINE
TRADING IS SIMPLE.
There is an entire industry built around making you think it is complicated.
All you need is a HORIZONTAL LINE on your chart to be a profitable trader.
I bet you doubt me, don't you?
Go long when the price moves UP to a price ends in 00, 25, 50 or 75.
Go short when the price moves DOWN to a price ends in 00, 25, 50 or 75.
IT IS THAT SIMPLE!!
Look at the chart and see how many pips you can make when you trade with the H1 candle color.
You can do this with stocks, currencies, futures, etc.
Oh when to take profits? Where to place stops? Just DON'T BE GREEDY and use COMMON SENSE! Learn some money management.
Pick ANY candle on the chart.
1) identify the color.
2) let the candle close
3) if the next candle is NOT the same color then:
if the current candle is GREEN go LONG at the FIRST line it approaches
if the current candle is RED go SHORT at the FIRST line it approaches
When to exit? Usually, when price stalls.
Stop loss? If price crosses the previous candle's midpoint.
Does that help?
So simple.
If H1 candle closes green then on next red candle go SHORT at the line.
If H1 candle closes red then on next green candle go LONG at the line.
Be patient. Don't rush the trade.
Don't be greedy and you can rack up the pips.
Let me answer the WHIPSAW protester before they even get started.
Of course, there will be price action around the x.00 and x.50 levels. That's what we are looking for and that's the reason we trade with the color of the H1 candle rather than the M1 candle ( M1 chart above ).
Just use a little risk management and money management.
Practice with 1 minilot or 0.1 minilot until you get the hang of it.