Hello all... I am new to Forex Factory and love it!!! I can't wait to experiment with all your strategies. I used to be a big time day trader but have slowly moved from the 5min chart to the Daily Charts using the candlestick as my primary indicator. Here is the rub... I get restless waiting and only executing 1 or 2 trades a day if that.
I came up with a very basic strategy to earn a few extra pips a day (15 - 30 on a good day) using the 15min chart with EURUSD, GBPUSD, and USDCHF and just going with the running trend.
The only indicator I use is the TFX Trend Bar. I set Long trends to aqua and (1 & 3) Short trends (0 & 2)to magenta. When I get three bars the same color I go with the trend (45 minutes). This isn't the best strategy but does get me good results. I guess after trying to predict the next trend for the last 6 months I decided it is just easier to go with the existing trend.
You won't get rich off of this. It is just a safe way to execute trades during the day while waiting for my Daily Trade to realize. I usually cash out @ 10 pips and/or get out when the trend reverses.
Happy Trading
Jake
I came up with a very basic strategy to earn a few extra pips a day (15 - 30 on a good day) using the 15min chart with EURUSD, GBPUSD, and USDCHF and just going with the running trend.
The only indicator I use is the TFX Trend Bar. I set Long trends to aqua and (1 & 3) Short trends (0 & 2)to magenta. When I get three bars the same color I go with the trend (45 minutes). This isn't the best strategy but does get me good results. I guess after trying to predict the next trend for the last 6 months I decided it is just easier to go with the existing trend.
You won't get rich off of this. It is just a safe way to execute trades during the day while waiting for my Daily Trade to realize. I usually cash out @ 10 pips and/or get out when the trend reverses.
Happy Trading
Jake