What Is Your Current Trading Strategy?

[moonchild]

We use strategies as forex traders to trade all the time, and I can also relate how emotional traders are about their strategies but this thread is created to share what we are currently using to gain profits in the market, I know that strategies differs and even if you are scalper at least there are some rules that you adhere to that makes your trading straight forward for you and kind of a routine.

I will go first as the owner of the thread, the strategy that I use in forex is Price action, I just look at the market, first thing I do befpre making trading decisions is to go to higher time frames and look for opportunities, I will then trickle down to lower timeframes and see if there is any opportunity, but it depends on the mood, if i am in the aggressive mood, I will fund small amount like 10$ and then scalp on lower timeframes using price action.

I also use other things like supply and demand, support and resistance , I always mark my level on my chart, whenever price approaches a line I will just look at the price action and then dive in.

 

[Farkid]

Price action may seem easy but it is not because you have to rely on trading a naked chart and if the trade doesn't work out as planned you'd have no evidence as to why you lost the trade. I still rely on indicators combined with price action. I use ones that have to do with market volatility and channels.

 

[Shaf]

I have tried to use price action but I think it's more difficult than experts portray it to be. I mostly use indicators to trade, my favorites being the EMA and Relative Strength Index.

Using RSI is best on lower timeframes though, as it can get you closed out ok higher timeframes. Like you, I have learnt that the best place to start is on a higher timeframes, specifically the 1D and weekly charts to determine general market direction. You can see support and resistance levels better and if a trend change is imminent.

I usually buy oversold assets and hold for a while. Sometimes, it can take up to a week to see significant profits. The basis of this strategy is that anything that comes down, especially that badly would go up soon. I have tried some indicators like the Bollinger bands and volume indicator, but I just don't get how they work yet.

 

[Dita Walczak]

Bring efficiency in using technical tools because this efficacy will drive you towards success. Use technical tools on demo account whenever you have enough time because it is helpful ultimately. Eurotrader supports their traders in every possible way so they can derive sufficient amount of profit from the market.

 

[Vigorish]

My strategy is similar to OP. I also have a strategy focused on price action - prefer scalping on 1-2 minute charts, my chart setup includes 3 indicators: RSI, SMA & MACD. And using ecn broker like fxview is a good way so that spread costs remain low. But timing can also be another impact in having a proper strategy in your trade.

 

[Mary Frederick]

Learning grows consciousness in a trader.But the learning should be effective enough. Your first investment should a small amount because initially investing big amount carries high risk for you. Eurotrader is allowing all types of traders with a whopping 111% deposit bonus.