BACK TO THE BASICS
Good day traders, hope you are profiting from the Forex windfall?
I believe everyday should be a payday (except when the trend changes on you but you can take a hit or cut your loss shot and ride the new trend).
I have been having fun with this "curve fitted" concept and even with the misses and SL's and BE's it's been a joy ride.
The beauty of curve fitted MA's is that you can trade any pair on any time frame and all the time frames would align, and it makes multiple time frame analysis so much easier.
Personally this "multi-time frame" and multiple choice MA's has led to an ever increasing quest to achieve the cutting edge.
I from time to time go over my charts to try and tweak and fine tune my approach and you can attest to this in the recent changes.
I have had time to really consider why and how I trade and I see there's been that desire to derive and apply the best "curve fitted" MA and guess what there just is not any.
The thing with MA's is that price will at one or multiple times bounce off or cross any MA you plot on a chart.
When I started I stuck with the Basic MA's then in my attempt to find the best fit came the divisions, the 1/8, 1/4, 1/3 1/2 even now the 1/1.5
They all have their merits and demerits but I have come to conclude that it's all dancing round a pole.
The basic premise of this approach is define the trend with one or more curve fitted MA's and trade the bounce-off's of the levels in line with the trend and supported by crosses.
Occasionally, some bounces and crosses will be against the trend and you may trade that with caution -maybe lower lot size, smaller target, early BE and so on.
I have resolved to stick with the BASIC MA's on whatever time frame I choose to trade and wait for the bounces.
BASIC MA Long term S&R 3 day MA
H1 24 200 72
M3048 400 144
M1596 800 288
M5288 2400 864
M11440 12000 4320
Henceforth my charts will only carry these combinations and that is what I'd be using in all future posts.
I believe I will have more peace of mind and consistency with my trades this way.
If you are familiar with this approach, just take a new cart of your preferred pair and time frame and attach just the basic MA, the 3day and LT S&R and go over as far as you can to see the crosses and bounces, you may find times of range and counter trends but ultimately, the trend wins.
Check these out.
Good day traders, hope you are profiting from the Forex windfall?
I believe everyday should be a payday (except when the trend changes on you but you can take a hit or cut your loss shot and ride the new trend).
I have been having fun with this "curve fitted" concept and even with the misses and SL's and BE's it's been a joy ride.
The beauty of curve fitted MA's is that you can trade any pair on any time frame and all the time frames would align, and it makes multiple time frame analysis so much easier.
Personally this "multi-time frame" and multiple choice MA's has led to an ever increasing quest to achieve the cutting edge.
I from time to time go over my charts to try and tweak and fine tune my approach and you can attest to this in the recent changes.
I have had time to really consider why and how I trade and I see there's been that desire to derive and apply the best "curve fitted" MA and guess what there just is not any.
The thing with MA's is that price will at one or multiple times bounce off or cross any MA you plot on a chart.
When I started I stuck with the Basic MA's then in my attempt to find the best fit came the divisions, the 1/8, 1/4, 1/3 1/2 even now the 1/1.5
They all have their merits and demerits but I have come to conclude that it's all dancing round a pole.
The basic premise of this approach is define the trend with one or more curve fitted MA's and trade the bounce-off's of the levels in line with the trend and supported by crosses.
Occasionally, some bounces and crosses will be against the trend and you may trade that with caution -maybe lower lot size, smaller target, early BE and so on.
I have resolved to stick with the BASIC MA's on whatever time frame I choose to trade and wait for the bounces.
BASIC MA Long term S&R 3 day MA
H1 24 200 72
M3048 400 144
M1596 800 288
M5288 2400 864
M11440 12000 4320
Henceforth my charts will only carry these combinations and that is what I'd be using in all future posts.
I believe I will have more peace of mind and consistency with my trades this way.
If you are familiar with this approach, just take a new cart of your preferred pair and time frame and attach just the basic MA, the 3day and LT S&R and go over as far as you can to see the crosses and bounces, you may find times of range and counter trends but ultimately, the trend wins.
Check these out.
Let it turn and find your entry.