Simple effective trading strategy which may be of use to you...

d4ved

Recruit
Messages
7
My apologies in advance if this post does not conform to the usual school of thought to use as many indicators that you can find mentality.

My winning Forex trading strategy is to use MT4 price line charts with 2 SMAs, and a good 28 currency pair currency strength meter to identify the pairs that I have the best chance of making a profit with. (I do not use candles or any other indicator)

Once the currency strength meter let me know the potential pairs to watch, I use a 14 SMA (red line) for trade exits and a 50 SMA (blue line) for trade entries that cross the price line (green line) on 1 hour charts, you can use whatever colours that you like.

The trade below resulted in a 351 pip profit, I could show many more similar profitable trades but why waste our valuable trading time.

This example of a simple easy effective trading strategy with a Currency Strength Meter is not suitable for everyone as one size does not fit all, I say this because some so called Expert traders who have never worked in any type of banking institutions would have you believe that this strategy is too simple and that you need 10 or 100 chart indicators to trade Forex, that totally hides the real picture so that you lose money like they do, please don't listen to them just "Keep It Simple". All you have to do is to paper trade with this simple strategy (Method) using a brokers demo account until you trust the method (Mind), learn some money management skills to keep the risks and/or leverages low (Money), then use a small amount of real money at first until you can trust yourself with larger amounts.
 

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Jussar

Private
Messages
21
Good disciplined strategy and suitable money management, it should be effective over the long run, how many years you have trading D4ved?
 

d4ved

Recruit
Messages
7
Good disciplined strategy and suitable money management, it should be effective over the long run, how many years you have trading D4ved?

I agree with your comment about "Good disciplined strategy and suitable money management", but if I may I'd like to add a few more "quality comes before quantity, do the homework, trust your trading method, and keep the risks and/or leverages low".

I've been involved with the Stock and Currency markets since 1999, whilst working for many Investment Banks and Investment Clearing Houses in London, Frankfurt, Zurich, Singapore and Hong Kong. I'm not new to this but I learn something new every day which keeps me interested.

Hope this info is helpful.
 

LoRio

Sergeant
Messages
484
I agree with your comment about "Good disciplined strategy and suitable money management", but if I may I'd like to add a few more "quality comes before quantity, do the homework, trust your trading method, and keep the risks and/or leverages low".

I've been involved with the Stock and Currency markets since 1999, whilst working for many Investment Banks and Investment Clearing Houses in London, Frankfurt, Zurich, Singapore and Hong Kong. I'm not new to this but I learn something new every day which keeps me interested.

Hope this info is helpful.

Why are you sharing it?
 

d4ved

Recruit
Messages
7
Why are you sharing it?

The question has to be why should I not share the information?, I believe the "Beginners Bootcamp" is a place where beginners come to get the right information to help them learn or improve their trading skills. If I'm in the wrong place then my apologies, I will take my help and advice elsewhere.;)
 

LoRio

Sergeant
Messages
484
The question has to be why should I not share the information?, I believe the "Beginners Bootcamp" is a place where beginners come to get the right information to help them learn or improve their trading skills. If I'm in the wrong place then my apologies, I will take my help and advice elsewhere.;)

In your head that sounds like an ultimatum.
As my previous question sounded like an insult.

Both fantasies.
 

ilearn2t

Sergeant Major
Messages
711
Hello d4ved

Welcome to the forum, I too like to try and help/advice the "newbies" among ourselves get a better understanding on how to try and improve their trading skills by using different tools or and combining them for possibly better results.

On my own forum I used the 13-period Simple Moving Average (SMA) indicator on the EUR/USD 4H chart, adding the 25 & 50 period indicators also to explain my best strategy using the (SMA).

I noticed if the trader placed a buy order once the uptrend moved above the lines and or placed a sell order once it fell below the lines the (13) gives a better percentage rate of success.


Good luck
Liz
 

d4ved

Recruit
Messages
7
In your head that sounds like an ultimatum.
As my previous question sounded like an insult.

Both fantasies.

It's quite strange that you can know what's in my head, my question I politely ask again is "Why should I not share the information?" you being a 1st class Private should be able to tell me as I'm only a recruit. Is there some forum rule or law against doing so, if there is I will most happily abide by it and remove the post.
 

d4ved

Recruit
Messages
7
Hello Liz,

Thanks for your welcome, just want to say that your help and advice is very good, it should help the "newbies" among ourselves get better at trading. I know when I started 15 years ago I needed all the help and training that was available.:)

All the best,

d4ved
 
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