Hi WB,
Firstly I would like to thank you for a great thread. And thank you on behalf of all the traders learning from your advice.
I trade futures and spot. This is how I do, enjoy
This is not a lesson on how to trade, rather a stragety i have found to be working very well.
Daniels Trading Platform for futures. http://www.danielstrading.com/platfo...o-download.php
Pivots= daily, weekly, monthly. You have to add these yourself, but one done its done. can probably use other platforms but this is what i use.
Spot. Any reasonable Mt4 broker. Insert Habeebs autopivot 2. I see you use the same. Thank you Habeeb. I also use this. unreal indicator.
15 minute charts targeting 40pip scalps.
Correlation. DXY up EU Cable etc down. Vice versa. This strategy will work on any pair and have used the DX and EU only as an example.
5ema. You can add a vloume indicator to dt pro if you wish. . tum Jai khun= up to you.
Settings: Mt4 and dt pro on a 15min TF.
Watch the how the price reacts to the pivots/sr zones in relation to each platforms pivots. Entries are always price action , retest , breakout strategy. You all know this, so i won't explain it.
Use the FX Futures DXY (live 15 min) for your leading indicator, and watch spot in relation to what the DXY is doing live. When you see a breakout on the DXY trade the opposite on MT4. The normal rules of traffic resistance/support must be applied. The more confluence at a certain zone makes that zone stronger. So always have these rules applied.
You can use the Currency Futures on all pairs, not just the USindex. Scroll through them at or near news times. Example, if the AUD has a redflag announcement, you would be looking at the GAUD and DX, 6JUO=yen and so forth, then visually watch spot and those together.
Now i have told you what to look for I feel that not only you but your readers will benefit from this.
I use this for scalping mostly. Durring the week i missed a couple of 200 pip moves due to using a limit order, where it should have been at market. Also i have added my trade sheet using this method. The position size is small due to testing a new strategy. Its all live, not demo. And work in process.
Firstly I would like to thank you for a great thread. And thank you on behalf of all the traders learning from your advice.
I trade futures and spot. This is how I do, enjoy
This is not a lesson on how to trade, rather a stragety i have found to be working very well.
Daniels Trading Platform for futures. http://www.danielstrading.com/platfo...o-download.php
Pivots= daily, weekly, monthly. You have to add these yourself, but one done its done. can probably use other platforms but this is what i use.
Spot. Any reasonable Mt4 broker. Insert Habeebs autopivot 2. I see you use the same. Thank you Habeeb. I also use this. unreal indicator.
15 minute charts targeting 40pip scalps.
Correlation. DXY up EU Cable etc down. Vice versa. This strategy will work on any pair and have used the DX and EU only as an example.
5ema. You can add a vloume indicator to dt pro if you wish. . tum Jai khun= up to you.
Settings: Mt4 and dt pro on a 15min TF.
Watch the how the price reacts to the pivots/sr zones in relation to each platforms pivots. Entries are always price action , retest , breakout strategy. You all know this, so i won't explain it.
Use the FX Futures DXY (live 15 min) for your leading indicator, and watch spot in relation to what the DXY is doing live. When you see a breakout on the DXY trade the opposite on MT4. The normal rules of traffic resistance/support must be applied. The more confluence at a certain zone makes that zone stronger. So always have these rules applied.
You can use the Currency Futures on all pairs, not just the USindex. Scroll through them at or near news times. Example, if the AUD has a redflag announcement, you would be looking at the GAUD and DX, 6JUO=yen and so forth, then visually watch spot and those together.
Now i have told you what to look for I feel that not only you but your readers will benefit from this.
I use this for scalping mostly. Durring the week i missed a couple of 200 pip moves due to using a limit order, where it should have been at market. Also i have added my trade sheet using this method. The position size is small due to testing a new strategy. Its all live, not demo. And work in process.