Help! What is the actual holy grail in forex? I'm tired of losing

Focus on Fib levels first. Learn to trade from a Fib retrace level to a Fib extension level.

Recognise candlestick reversal patterns.

Ignore all indicators, at least initially and whatever you do don't get caught up in spending years trying to optimise them. They are not necessary.

Use trend lines rather than MAs they are much quicker than MAs and you don't have to worry about which period to use.

There is no Holy Grail.

Good luck

Sorry, I forgot to address your question of the best time frame to use.

There is no definite answer to this, but imo you must consider the following:

1. If you are trying to trade a market that remains essentially flat you will not be likely to make money no matter what time frame you use. You must examine the daily and weekly chart of any instrument you are thinking of trading and make sure that it has good amplitude moves in the timeframe you are considering to trade. A nice trending market is easier to profit from.

2. The shorter the time frame that you choose, the more decisions you will have to make i.e. when to enter and when to exit trades. As a newbie you are going to be under great stress if you have to make decisions every 5 minutes on a 5 minute time frame, and those decisions have to be made in seconds! My suggestion is that you consider daily or even weekly time frames initially (on demo) until you have sorted out a trading system for yourself. This gives you time to thoroughly study your charts and you will notice that you would not have seen under time stress. When you become "fluent" and confident in your decision-making then you can reduce your time frame if you wish. Larger time frames do not mean less profits and you get to have a life as well!

If you do both at same time you might get fried.

The future exists. Predicting it accurately with authority does not. If you want to know what your fortune is, look in your bank account. The Holy Grail is in development. We don't know who is developing it. We don't know when it will be completed. It has been 5000 years in the making and not even alpha tested yet...

Thanks for the laughs, this post gets my vote..

For me, i look at a M30 chart, then when a set-up is looking likely, i switch to M5 & M15 for entries/Exits.
To spot a decent setup, i plot a 30EMA + 60SMA. Only take long trades when 30EMA is above the 60SAM, opposite for shorts.
Next, have a M30 + 1H Stochastic. Only take trades when these are dropping (or rising from from 20/80 area)
The best setups are when these are tight together.


I recommend the Genesis thread, there is a lot of great info there.

Good Luck

http://www.forexfactory.com/showthread.php?t=400483

Thanks back at you - but it wasn't meant for laughs, I was serious.

Price goes up and down. Why wait for the times to go long only.

If you have a good backtester, it's easy to put together a strategy that is profitable over some period, but it is never profitable over all periods, so you need to adjust your strategy. So you need to be constantly learning and tweaking your strategy, but don't expect to win all the time.

I think the holy grail is money management. Taking losses are a part of trading you must accept... but money management is how you live to trade another day. Even if your strategy wins 40% of the time, if it has a good risk/reward ratio or expectancy, you can still make money!

There is many consistency in forex you can call it holy grail :

1) the market opening indicator, you will be able to visualise it in chart and verify how it works fine, i know many noobs dont use it and you are wrong, USE IT TRY IT ONE TIME YOU MUST SEE THE MARKET CHANGES ON ALL PAIRS BY YOUR OWN EYES
my tip for this indi : modify settings with this http://en.wikipedia.org/wiki/List_of..._opening_times and your broker time and (notice sydney=tokyo, frank=london open) when you will familiar with it you can delete names by putting "999999999" on label font size.

2) One other consistency you will notice are pivots point, resistance and support of the day, all traders use the same method of calculating (use daily) http://www.actionforex.com/markets/p...2010040848154/
To verify it really works the FXI pivots indicator show you historic data in your chart

3) For me the best prediction tool is the genesis matrix, does not repaint after bar close use it on M15

4) Install a calendar in your chart and see what happen, you can use FFcal

5) Open all pairs you broker offer and trade the none ranging pair

ALL CREDITS TO http://www.forexfactory.com/showthread.php?t=373796

Unfortunately the 'Holy Grail' does not exist.

Technical analysis allows for Financial traders to analyse the charts accordingly, no individual trader would use just one of the Indicators, Oscillators to identify a Trade however would combine a couple to add 'confluence.

As a Trader, depending on ones risk appetite, trading style the timeframes vary - If you want to trade without the noise or emotions of say the 5m & 15m charteslourish it is best to use longer term time frames of 1day, 4hour and 1 hour as the 1hour will still allow for you to trade intraday with the longer term view over 4hr/1day offering more market data.

I.e Fibonacci is a worthy TA indicator to allow for potential change in trend, reversals etc.... If you are to combine the Fibonacci 'retracement' tool with Moving averages this will add additional support to your potential trading setup (which is called Confluence)

Fibonacci Retracement + Moving averages

hello!

First of all make sure you know what you are buying and what you are selling ..!
geopolitical events, wars, disasters and elections could make impact on the forex market as well...
just like who like to buy USD when United states facing debt problems..Euro Rallies ... you started to drag fibo there some cross overs and burn your account .. then u started to blaming the strategy ...!

Thats the problem .. peoples want to be a forex trader but they want to avoid fundamentals! its like want to be a doctor but i will not read " BIOLOGY" lolz....


first learn what you are selling what you are buying ...! then give yourself the reason why you buying currency.. yeah buying only there is no Selling stuff's @ forex market


Selling Eur/Usd means " you buying USD " .. so when you buying a product you need complete knowledge on that product(is that good or bad).. just like we use youtube , google for buying new Mobiles ..

now about the indicators

-Fibonacci
-Macd
-Rsi
-Renko
-Custom indicator
-Moving average
-Trendline
-200 EMA
-Psychological Level

all indicators work ...stay intact with your thread .. i will show you good trades with your indicators named above..one by one every day! as i don't like bluffing with previous charts . i will show you in real time .. and you can check it with my trade explorer as well ...

P.S : Fibo if you want we can leave it ... because i allready showed lots of example in my thread : http://www.forexfactory.com/showthre...28#post7051128 in real time .. no bluff's

If market open with GAP idea Cancel.......... MACD BUY NZD/USD ... 15 Min chart

Stay away from indicators period.

This!!

Learn all about price action and supply/demand trading...forget about indicators.

So if you bought just after market open you can get easy 1:1 RR or move your stoploss to breakeven and watch the magic! i am not editing the previous post .. check the post timing its before market open.as i said ... i don't like previous charts and example i learn from past .. i live present ... real time

conclusion : MACD WORKS

Next i will show you RSI

many thank sir. Keep it up

GBPUSD 30 min chart Stoch Sell

I'm following your trade. Short at 1.618 let'us see.

Just after we enter ..... GU shows nice 5 Hour shallow down move .... its my fault i am unable to take that .. its hit my breakeven .... but ....

Conclusion : Stoch Works