I'm a new forex "trader" (I use that word loosely)
I need to develop a trading plan, a set of parameters to enter exit all my trades on. I recently realized that I am a gambler, not a trader, and that the odds are in favor of the house.
Any suggestions to add to my plans? I will be trading EUR/USD , intraday, with a chart most likely in the 15min - 30 min timeframe. I am really interested in what EMA , SMA you have found works well with this pair/timeframes. Any body wanna throw some ideas at me? I will of course be backtesting all recomendations.
Also looking for a good charting tool for FIB plotting. my existing chart tool is not so good with FIB anything!
{narafa change: Just fixed a spelling mistake. The word trading goes like this, not tradeing. No offense to anyone or the poster, we all slip.}
I need to develop a trading plan, a set of parameters to enter exit all my trades on. I recently realized that I am a gambler, not a trader, and that the odds are in favor of the house.
Any suggestions to add to my plans? I will be trading EUR/USD , intraday, with a chart most likely in the 15min - 30 min timeframe. I am really interested in what EMA , SMA you have found works well with this pair/timeframes. Any body wanna throw some ideas at me? I will of course be backtesting all recomendations.

Also looking for a good charting tool for FIB plotting. my existing chart tool is not so good with FIB anything!

{narafa change: Just fixed a spelling mistake. The word trading goes like this, not tradeing. No offense to anyone or the poster, we all slip.}