I need a profitable, easy-to-follow Forex strategy. I’m a daytrader, so I need a good swing strategy. About 20 pips per trade will be good. Also, I have Meta Trader, so I’d appreciate good, custom indicators. Don’t give me MACD, RSI, Stoc, Moving Averages etc…

Thanks!

Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, the market is just too random and unless risk is controlled over time your account will slowly get wiped out, regardless how good a “trader” you think you are.

I mean in the even that, for whatever reason, your trading becomes less effective and less profitable. Could be emotional problems, physical, competition and trading systems increasing efficiency – whatever.

Over the short term, do you have backup strategies? For example, do you trade intraday, but understand enough to be profitable at swing? Or maybe trade on level II quotes and time reversals intraday, but know how to use candlesticks and overbought/oversold indicators?

Over the long term, do you have career backups? A college degree that would allow you to hop right back into the work place? Maybe a safe million in a standard investing account, so you wouldn’t mind living off 10% market average (or more conservatively in bonds) while you sort yourself out?

Thanks for your help!

Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, the market is just too random and unless risk is controlled over time your account will slowly get wiped out, regardless how good a “trader” you think you are.

I have a pretty good understanding of trading Oversold Indicators but have been getting into Overbought trading on the short side recently. My question is from a swing trading (shorter term) stand point. When I am looking at creating a watch list based on overbought conditions (RSI and Stochastics) would it be wise to focus on currently up trending stocks that are overbought, consolidating stocks breaking down, or down trending stocks that have had a recent rally into overbought territory?

I understand there is no Holy Grail or perfect way to trade overbought but really am looking for another opinion or idea. Thanks in advance.

Trading indicators are best used along with money management and good risk control, using tesnical indicators alone will not enable you to ne a successful trader, the market is just too random

Here’s what I’m thinking of doing:

Pick a future that’s been volatile lately
Buy an option on the future to increase the swing even further
Watch the swings, and if I’m up 25%-30%, close the position.

Would this work? I’m not interested in researching fundamentals or following technical indicators. Of course, I wouldn’t risk more money than I can afford to lose.

Trading indicators are best used along with money management and good risk control, using tesnical indicators alone will not enable you to ne a successful trader, the market is just too random