DislikedI'm also a big beliver that the simpler a system is, usually the more profitable it is too. I think the main problem every trader has though is, how do you avoid a ranging market? I feel i may have found a simple solution to this by using additional indicators. 1) First i make sure price is above the 5 and 8 MA on both H4 and D1 charts 2) I then make sure Stoch, CCI, RSI and MACD are all up on H4, then i make my entry on an H4 chart. I think the benefit of using 5 and 8 ma's are that they don't lag as much as higher ones.Ignored
Stoch, CCI, RSI and MACD is at the end of the day just telling you actually the same thing but if it works for you by all means use it. But get something that works for YOU.
I rather use money management to keep my losses small and not over 1R (and also not betting the house on every trade) in ranging periods and I then know my winners will make up for them especially if you just let simple 5/8 run until it says get out.