Heard it said that "there's no right and wrong way to trade only results" so, with that I'd like to add my contribution to the endless tally of "Trading Systems" that abound on this forum.
I've been around several threads tried different approaches of mine and have settled for this particular one.
You may recognize some concepts from some other threads but like a sponge I've taken as much with me as I possibly can and I'm squeezing the sponge to let out what I've learnt. (I'm still learning).
Pardon that lengthy preamble, now the intro....
The most commonly used indicator yes, that word that virtually all newbies love and some seasoned veterans hate which we all none the less can't do without -talking about indicators.
IMHO is the Moving Average(MA), moving averages mainly used to determine the TREND are mostly traded with crosses that is price cross or dual or triple MA cross, so we will incorporate MA's in this our approach.
Most seasoned traders will tell you to aspire to trade pure PRICE ACTION (PA) and by and by that is attainable, but at this level, my view of PA is where has price gotten to, is price being rejected at which levels and where is S&R?
A great concept in trading is confluence and where you have a confluence of parameters or entry criteria there is "high probability" so Ilike to combine my crosses with bounces for high probability trades.
Now let's talk about the trend, we won't flog HH & HL for uptrend and LL & LH for down trend, that is just babypips stuff, instead, we will look at some of the tools for measuring the trend and I prefer the MA and The Bollinger Bands (BB)
I had to pause my trading approach when I came across this piece and have been tweaking and tweaking (cant say when the tweaking will end).
http://www.forexfactory.com/showthre...25#post3418325
Let me catch my breath.
Cya soon!
You may want to skip the commentaries and dig right into the action, the by-pass is here.
http://www.forexfactory.com/showthre...07#post6423907
I've been around several threads tried different approaches of mine and have settled for this particular one.
You may recognize some concepts from some other threads but like a sponge I've taken as much with me as I possibly can and I'm squeezing the sponge to let out what I've learnt. (I'm still learning).
Pardon that lengthy preamble, now the intro....
The most commonly used indicator yes, that word that virtually all newbies love and some seasoned veterans hate which we all none the less can't do without -talking about indicators.
IMHO is the Moving Average(MA), moving averages mainly used to determine the TREND are mostly traded with crosses that is price cross or dual or triple MA cross, so we will incorporate MA's in this our approach.
Most seasoned traders will tell you to aspire to trade pure PRICE ACTION (PA) and by and by that is attainable, but at this level, my view of PA is where has price gotten to, is price being rejected at which levels and where is S&R?
A great concept in trading is confluence and where you have a confluence of parameters or entry criteria there is "high probability" so Ilike to combine my crosses with bounces for high probability trades.
Now let's talk about the trend, we won't flog HH & HL for uptrend and LL & LH for down trend, that is just babypips stuff, instead, we will look at some of the tools for measuring the trend and I prefer the MA and The Bollinger Bands (BB)
I had to pause my trading approach when I came across this piece and have been tweaking and tweaking (cant say when the tweaking will end).
http://www.forexfactory.com/showthre...25#post3418325
Let me catch my breath.
Cya soon!
You may want to skip the commentaries and dig right into the action, the by-pass is here.
http://www.forexfactory.com/showthre...07#post6423907
Let it turn and find your entry.