In this thread KoolPay will be posting the most basic and common trading strategies that help novice traders make right decisions while taking first steps in forex trading. If your knowledge is not up to par and you don’t want to drain your funds down please, take a few minutes and look over the basic strategies that might generate steady pips in your account.
We’re starting with the classical example on the 4H time interval graph (GBPUSD).
Time Frame: H4 EMA8 EMA55
Momentum (12) ADX(14) MACD(12,26,9)
SHORT POSITION – SELL
If EMA8 crosses below EMA 55 and tends down, then ADX has to approve our signal at 1.63225 (approximate figure)
• ADX > 20 (for some traders 25)
• ADX to be heading up
• DI- > DI + (red dotted line over green dotted line)
• DI- >20 (to be heading up)
When momentum crosses 100 and descends, this supports our sell signal as well. MACD follows the same path (below 0).
LONG POSITION – BUY
If EMA8 crosses above EMA 55 and heads up, then ADX has to approve our signal at
• DI+ > DI – (greed dotted line over red dotted line)
• DI+ >20 (to be heading up)
When momentum crosses 100 and advances, this supports our buy signal as well. MACD follows the same path (above 0)
Hi there, nice thread, you can try an indicator created by a newby (Me) for newby's, is a daily trend indicator use it there, so you don't loose too much money while trading ..., well idea is pretty simple, Now that you know the daily trend, go to lower TF and if you see proce going down signal and long signal, if trend is long, go long when price goes down...same for short trend, if price goes up go short... you can trade on 30min or 60 min TF and never hav too much problems while you are starting to trade... use it free...as ment to be so.
Hope you can enjoy some free pips!!