You know the saying... If it looks like a duck, swims like a duck, quacks like a duck then it probably is a duck!!!!
There's going to be no major chart analysis from me on this thread, mainly because the fundamental theory is very simple.....
So....
I've been spending so much time staring at the screens doing analysis, Fibs, trends MA's, etc etc etc... kind of getting somewhere and then realise I'm nowhere. I've always thad in the back of my mind what if I just stick a trade on with say £1 loss or £1 win and if I get most of them right, well I'm in profit, simple!!!! The problem always arises that in every 50/50 situation you can get a long run of losses, so of course it's not as simple as that, but if you have been looking at those charts for a while, you'll have some knowledge, and surely that knowledge will give you just enough edge to get mostly (more than 50%) winning trades.
So I have about 10 pairs that I look at, I trade in the morning (GMT), no particular time, I'll scan through those pairs switching between 5 min and 1 hour chart and just think which is the pair most likely to go in the direction I think it is, I put a trade on that will either win or lose the same amount and leave it. That's it, nothing else, and it has translated to about 30% profit in about a month and a half.
There's going to be no major chart analysis from me on this thread, mainly because the fundamental theory is very simple.....
So....
I've been spending so much time staring at the screens doing analysis, Fibs, trends MA's, etc etc etc... kind of getting somewhere and then realise I'm nowhere. I've always thad in the back of my mind what if I just stick a trade on with say £1 loss or £1 win and if I get most of them right, well I'm in profit, simple!!!! The problem always arises that in every 50/50 situation you can get a long run of losses, so of course it's not as simple as that, but if you have been looking at those charts for a while, you'll have some knowledge, and surely that knowledge will give you just enough edge to get mostly (more than 50%) winning trades.
So I have about 10 pairs that I look at, I trade in the morning (GMT), no particular time, I'll scan through those pairs switching between 5 min and 1 hour chart and just think which is the pair most likely to go in the direction I think it is, I put a trade on that will either win or lose the same amount and leave it. That's it, nothing else, and it has translated to about 30% profit in about a month and a half.