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A good solid few days of trading, thank the followers for continued support, you can follow my free signals @ https://www.zulutrade.com/trader/354010/trading or you can opt for whatsapp forex signals (details in first page first post)
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I will be writing few insights on how to go about trading and simple rules to follow to execute good trades. It all culminates from my experience of 5 years of trading.
First important thing to look in to the chart is the trend. You should use a longer time frame to confirm. Many say daily or weekly or monthly. In my view always use 2 or three time frames to confirm a trend.
Let's say you have a strategy for 4 hr charts then use daily chart as your filter to see whether the trend is in sync with 4hr charts.
This one simple step will help you to fight lot of bad trades. This approach is called "wider approach".
All the trend indicators can be used its your choice and whichever you feel comfortable you can use. Ichimoku, moving averages are some of the ones you can use to gauge the trend.
I will add more insights as i go along and whenever i have time to update this post. Will be adding more illustrations and notes on various topics in the coming weeks. Hope it helps some one to get their bearings right and trade profitably.
Hope everyone got the pie from trading the UK election results. It is always safer to stay out of these big days but if you are confident of a news you can trade on the news. Always remember not to risk more than 3-4% per trade.
We have grown the trading account attached to this thread to 18% in 45 days with solid risk free trading with no Major draw downs.
Performance can be checked out at : Here!! (https://www.forexfactory.com/showthread.php?t=484225#acct.46-tab.report), Trading history!! (https://www.forexfactory.com/showthread.php?t=484225#acct.46-tab.list)