SIMPLE & PROFITABLE: 00 HORIZONTAL LINE TRADING
Before we get into the method let's establish the ground rules of this thread. Aren't you tired of the mean spirited comments and nastiness on some of the most popular threads? Ask a question and get called names or told to do your homework. Flaming and personal attacks. Cult like leaders and disciples. Ridicule if you mention something that the almighty guru didn't approve. Let's not have any of that here. Only kind people are welcome. Naysayers and rudeness begone. In your first post, please introduce yourself. Getting to know each other may help us remember we are all human and should be treated kindly. I have traded currency pairs for about a decade or so. Living west of the Mississippi in the US of A. I like to build things with my hands and be outdoors.
It is understandable a thread starter feels protective after all the thread is his baby. The main thrust of the thread can get lost in a short time when every Johnny Come Lately posts a chart with a zillion indicators. Impossible to stay on topic when that happens. Then the thread starter start changing things via tweaks and something once simple is now complicated.
Why did I choose to start this thread? Rather than be seen as a disruption in other threads, this will be the place to post. And to have a place to post where tongues don't have to be bitten and grovelling is not demanded.
The ideas and methods to be presented are as old as trading itself. No claim to originality is being made. Coding indicators is not my thing, none for me to post. Indicators can be found here http://www.forexfactory.com/showthread.php?t=312194
http://www.forexfactory.com/showthre...42#post7528042 Use a search engine to find code.
The method - it is simple. 
Deja vu.
Before we get into the method let's establish the ground rules of this thread. Aren't you tired of the mean spirited comments and nastiness on some of the most popular threads? Ask a question and get called names or told to do your homework. Flaming and personal attacks. Cult like leaders and disciples. Ridicule if you mention something that the almighty guru didn't approve. Let's not have any of that here. Only kind people are welcome. Naysayers and rudeness begone. In your first post, please introduce yourself. Getting to know each other may help us remember we are all human and should be treated kindly. I have traded currency pairs for about a decade or so. Living west of the Mississippi in the US of A. I like to build things with my hands and be outdoors.
It is understandable a thread starter feels protective after all the thread is his baby. The main thrust of the thread can get lost in a short time when every Johnny Come Lately posts a chart with a zillion indicators. Impossible to stay on topic when that happens. Then the thread starter start changing things via tweaks and something once simple is now complicated.
Why did I choose to start this thread? Rather than be seen as a disruption in other threads, this will be the place to post. And to have a place to post where tongues don't have to be bitten and grovelling is not demanded.
The ideas and methods to be presented are as old as trading itself. No claim to originality is being made. Coding indicators is not my thing, none for me to post. Indicators can be found here http://www.forexfactory.com/showthread.php?t=312194
http://www.forexfactory.com/showthre...42#post7528042 Use a search engine to find code.
The method - it is simple.
- The trade is never entered in opposition to the candle colors of H1 and D1.
- The trade is entered in the direction the currency pair is moving at the 00 line.
- Profit is to be taken swiftly once the pair stops moving.
- Position size is risk/stop loss.
The math does not compute when you have TP = 5 and SL = 10. There may have been 2, 3 or 4 pip winners that slipped away into 10 pip losers. A daily goal of 10 pips is achievable in many ways.
A trader who sits at the terminal all day may as well go to Vegas. Winners get up and leave while ahead.
Deja vu.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
