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What Is Your Current Trading Strategy?
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[QUOTE="Shaf, post: 282481, member: 25467"] 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. [/QUOTE]
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What Is Your Current Trading Strategy?
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