I'll be honest, i've researched Forex for a long long time, but still can't completely to grips with it.
I did have some luck for a few weeks using technical analysis, but the trades weren't really consistent, and i'm sure i'd have made more in a ISA/at the casino!
I've been testing a new, pretty radical strategy and so far it's working.
The title isn't meant to lead people to think is the holy grail, or buy my system, signals etc so please just read and pass constructive critisism.
Also, this is the first and only idea i had, i have not modified it in anyway, so will tailor it over the next few weeks to my liking....let me know what you think
Look at a chart, any currency, i am using GBP/USD EUR/USD apart from the fact i get a good bit of interest in carry trades theres no reason why i use them.
For instance lets say GBP/USD, is currently 9715(for example only - these arenot real numbers) has been trading pretty consistently from 9700-9850 on the 15min, i check the 30min and 60 min charts
I've check them and it turns out it's averaging between 9650 and 9900, over say 2-3 weeks.
So of a 250 pip range, we're only 65 pips in, so with probability on our side we should be able to set the stop loss at say 9625 and buy 3 lots and put limits at 25, 35 and 50 pips, a total of 110 pips on the move.
Personally i'm using the bigger stop losses hence why i'm getting 100% results at the moment.
As of now i've had 1026 pips, i have a couple of outstanding trades, but at say the 2 week mark, i'll get all trades closed to see exactly where i am.
As of now i have had 25-30 trades, 100% successfull, start balance 50k end 60266
Any input would be great.
I did have some luck for a few weeks using technical analysis, but the trades weren't really consistent, and i'm sure i'd have made more in a ISA/at the casino!
I've been testing a new, pretty radical strategy and so far it's working.
The title isn't meant to lead people to think is the holy grail, or buy my system, signals etc so please just read and pass constructive critisism.
Also, this is the first and only idea i had, i have not modified it in anyway, so will tailor it over the next few weeks to my liking....let me know what you think
Look at a chart, any currency, i am using GBP/USD EUR/USD apart from the fact i get a good bit of interest in carry trades theres no reason why i use them.
For instance lets say GBP/USD, is currently 9715(for example only - these arenot real numbers) has been trading pretty consistently from 9700-9850 on the 15min, i check the 30min and 60 min charts
I've check them and it turns out it's averaging between 9650 and 9900, over say 2-3 weeks.
So of a 250 pip range, we're only 65 pips in, so with probability on our side we should be able to set the stop loss at say 9625 and buy 3 lots and put limits at 25, 35 and 50 pips, a total of 110 pips on the move.
Personally i'm using the bigger stop losses hence why i'm getting 100% results at the moment.
As of now i've had 1026 pips, i have a couple of outstanding trades, but at say the 2 week mark, i'll get all trades closed to see exactly where i am.
As of now i have had 25-30 trades, 100% successfull, start balance 50k end 60266
Any input would be great.