You cannot just blindly apply indicators and expect to take money from the market.
You need to figure out number of things:
1. Are you Position, Swing, Day trader or Scalper. This will define the Timeframe you are trading.
2. Trend Analysis
3. Type of trades - breakouts, pullbacks, reversals
4. Look into Price action:
- Support/Resistance
- Patterns for Entry. There is a lot of these, you need to find what makes sense to you.
5. Money Management. This is hugely important. Lets say you do true random entries, with good Money Management you should be able to at least break even in the long run if not make it positive.
- Risk per trade
- Risk per account
- R:R
- Trade management when trade is open
6. Consistency is the key. Your system shall be objective, no discretionary decisions. To the point that someone else can take and execute exactly same way you would.
Good luck.
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Hi Guys,
When i used leading and lagging indicators for backtesting always lossing trades. when i do reverse it is same.
Tested:
RSI
MA
PSAR
AO
MACD
W R%
ADX
CCI
Stochastic
Kindly please suggest best trade methods that your applying, I appreciate your help
Thanks
Rambooo