Is my strategy OK?

[marco_mmbiz]

Hi everyone,
I'm still new in fx and currently testing on demo account. I used Stochastic, Parabolic SAR, Simple Moving Average 10 and 20, Relative Strength Index and Average Directional Movement Index (ADX). I entered a trade whenever three of these indicators gave me signals. For example, when Parabolic, ADX and MA gave me sign that the trend is uptrend, I entered buy. And vice versa. However, I was suffering 1 loss in 8 trades. I want to know, is there any way I can avoid losses as much as possible? Do I need to wait until all indicators give me the one and only signal? What else should I use in order to increase profit?

I just read the first two sentences... leave it. Learn how to trade properly. Indicators are only for losers. You can ask every real professional fund manager or successful day trader about that. Like an ex-trader at Blackrock once said: "Indicators are the suicidal tools for retail-traders."

 

[benisback]

Hi everyone,
I'm still new in fx and currently testing on demo account. I used Stochastic, Parabolic SAR, Simple Moving Average 10 and 20, Relative Strength Index and Average Directional Movement Index (ADX). I entered a trade whenever three of these indicators gave me signals. For example, when Parabolic, ADX and MA gave me sign that the trend is uptrend, I entered buy. And vice versa. However, I was suffering 1 loss in 8 trades. I want to know, is there any way I can avoid losses as much as possible? Do I need to wait until all indicators give me the one and only signal? What else should I use in order to increase profit?

Try it on demo. If it works for 6 months it is good

 

[benisback]

I just read the first two sentences... leave it. Learn how to trade properly. Indicators are only for losers. You can ask every real professional fund manager or successful day trader about that. Like an ex-trader at Blackrock once said: "Indicators are the suicidal tools for retail-traders."

I do agree that indicators are generally pointless

 

[Farm_Yard_Forex]

1 loss in 8 is decent but you just need to make sure risk management is good enough to ensure that 1 loss doesn't wipe out most if not all your profit made on the 7 wins. Do that and you're golden.

 

[benisback]

1 loss in 8 is decent but you just need to make sure risk management is good enough to ensure that 1 loss doesn't wipe out most if not all your profit made on the 7 wins. Do that and you're golden.

Yes the win ratio needs to go hand in hand with good risk to reward