The best indicator ever invented is the mark 1 human eyeball!
Robots can never and will never beat the human eye for spotting trends.
The simplest way is to trade how brokers trade - by hunting stops!
Humans LOVE round figures, and traders TEND to trade round numbers, so simply set your trades +/- 10 pips either side of a round number!! (round numbers are considered at 100 pips)
eg.
say Ł/$ is 1.53056
Therefore round figures would be 1.5300 (to 4 dp)
therefore you would set your next BUY at 1.5390, with a SL of 20pips, TP 20 pips
HENCE
BUY 1.5390, SL 1.5370, TP 1.5410
SELL 1.5310, SL 1.5330, TP 1.5290
for currencies like Ł/yen with - Say the current priceis 135.67 :
BUY 135.90, SL 135.70, TP 136.10
SELL 135.10, SL 135.30, TP 134.90
If you were really inclined, you could set up 5 currencies, with buy and sell signals (take around 5-10 minutes) then come back next day and see how many came off!
Remember - this is working on human psychology - it only works because HUMANS are making the trades!!!
IT REALLY IS THAT SIMPLE!!!!
Robots can never and will never beat the human eye for spotting trends.
The simplest way is to trade how brokers trade - by hunting stops!
Humans LOVE round figures, and traders TEND to trade round numbers, so simply set your trades +/- 10 pips either side of a round number!! (round numbers are considered at 100 pips)
eg.
say Ł/$ is 1.53056
Therefore round figures would be 1.5300 (to 4 dp)
therefore you would set your next BUY at 1.5390, with a SL of 20pips, TP 20 pips
HENCE
BUY 1.5390, SL 1.5370, TP 1.5410
SELL 1.5310, SL 1.5330, TP 1.5290
for currencies like Ł/yen with - Say the current priceis 135.67 :
BUY 135.90, SL 135.70, TP 136.10
SELL 135.10, SL 135.30, TP 134.90
If you were really inclined, you could set up 5 currencies, with buy and sell signals (take around 5-10 minutes) then come back next day and see how many came off!
Remember - this is working on human psychology - it only works because HUMANS are making the trades!!!
IT REALLY IS THAT SIMPLE!!!!