Hey Everyone,
After taking a break the second half of last year and receiving some private messages from some of my followers, I decided to start this thread instead of commenting on random news articles. This is just meant to be my personal view of the Aussie. You may agree, you may not...you're always free to come and go as you please as my style might not be something you like. Also, I'll be the first to admit I'm not perfect and take losses on some trades. Self discipline to keep your losses small and take high probability trades should keep you profitable. And on that note, I'll just let you know that I'm a Day trader looking for high probability trades with 30-50pip targets and about 30pip stop losses. If you're a position trader or swing trader, this thread probably isn't for you. I recommend finding the method that works best for you as each trader is different.
As for my trading style...I mainly use Price Action on the 1hr chart with the 50 and 200 ema's and an RSI indicator. I'll also look at the 4hr and Daily chart for overall trend direction(higher probability traders are with the trend) and major support&resistance areas. Sometimes if the 1hr chart is confusing I'll drop down to the 15minute chart. After many trials and errors..different methods and systems, I've found what works for me...so I'm hoping to pass on some information that may help some of you. I can't stress it enough, your own self-discipline is a huge factor in your forex success. You'll need to have some patience with the Market for good setups and with me as I won't be posting every day(sometimes the market doesn't produce any trades I like for multple days). To those who follow me, I'm sure you can recall last year days would go by without setups.
Ok, with all of that introduction stuff out of the way...I look forward to next week and hopefully have some good setups to share with you!
After taking a break the second half of last year and receiving some private messages from some of my followers, I decided to start this thread instead of commenting on random news articles. This is just meant to be my personal view of the Aussie. You may agree, you may not...you're always free to come and go as you please as my style might not be something you like. Also, I'll be the first to admit I'm not perfect and take losses on some trades. Self discipline to keep your losses small and take high probability trades should keep you profitable. And on that note, I'll just let you know that I'm a Day trader looking for high probability trades with 30-50pip targets and about 30pip stop losses. If you're a position trader or swing trader, this thread probably isn't for you. I recommend finding the method that works best for you as each trader is different.
As for my trading style...I mainly use Price Action on the 1hr chart with the 50 and 200 ema's and an RSI indicator. I'll also look at the 4hr and Daily chart for overall trend direction(higher probability traders are with the trend) and major support&resistance areas. Sometimes if the 1hr chart is confusing I'll drop down to the 15minute chart. After many trials and errors..different methods and systems, I've found what works for me...so I'm hoping to pass on some information that may help some of you. I can't stress it enough, your own self-discipline is a huge factor in your forex success. You'll need to have some patience with the Market for good setups and with me as I won't be posting every day(sometimes the market doesn't produce any trades I like for multple days). To those who follow me, I'm sure you can recall last year days would go by without setups.
Ok, with all of that introduction stuff out of the way...I look forward to next week and hopefully have some good setups to share with you!
