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yes its better to go along with the trend. so the best strategy is to identify the trend early and trade accordingly. And different indicator and EAs are used by the traders to identify the trend as per his analysis. And generally bollinger bands, stochastics, MA, parabolic SAR are some of the common indicators frequently used by the tradersQuote:
Originally Posted by anubhavsingh
my strategy is that of an amatuer right now, i do a analysis of the market before entering the trade, i always set sl and tp to 30 pips and m well than satisfied with it, and also i always trade in the direction of the trend, well i am only 3 months old in forex now and this small and easy strategy works for me.
i used firstly support and resistence and aftre that i apply some candlestics chart technic and fibonacci also..after selecting proper decision i apply proper Tp or SL ....thats my routine
I trade on both technical and fundamental analysis and do both short term and long term trades.So I also do scalping and position trading based on my analysis and carry different trades at different times.Although risk management and money management is a part of my strategy and I do put Stop Loss to all my trades.
yes, take profit and stop loss on correct may get some profit for you. I think there is no use of resistance and support for opening positions. This(support and resistence) is we want to take in mind after we opened positions.Quote:
Originally Posted by Ronak
1. Moving average
even many said its lagging.. I still use as dynamic support and resistance
2. Fractal All TF (aka. KG support n resistance)
just want to know the statis support and resistance
I think I use around 4 - 5 indicator. even many professional trader said Indicator is Lagging ... even the leading is lagging. since indicator always take 4 information from candlestick movement.
right now,i'm using only 2..eventhough mostly i don't attach it..hehe
CCI and stochastic in H1 timeframe..combined with 1% candlestick..
if fibo and trendlines are indicators,count it..(though,i think they're not indicators,just line tools)
Interesting. I am hoping to get a few more votes especially to find out if people use 1 indicator or none at all as well. Let us see if we can get more forumers to vote.
yeah you are right without the indicator is difficult to know where prices will go and at least that's what we can do even though our analysis can not be accurate in 100%