I would love to share with you my method to trade on the Foreign Exchange.
I began trading Forex, Futures and CFD two decades ago, as a newcomer, and I lost some money.
I have decided to work a lot to succeed and stop functioning. I started to study a master of Trading in Paris at the beginning of 2010 until 2011-2012.
I used to combine a lot of indiors. Now I use a few of them. Why ? Because the more you wear you charts, the less your mind is clear.
I started by after a lot of pairs, but now I mainly follow USD/CHF and EUR/USD.
I believe that it's far better to focus on maximum 4 pairs.
Since March 1st, I did 901 pips profit with my method.
Indiors I use:
- Moving Average (89)
- RSI (14): 20,40,60,80
- Stochastic (14,3,3)
I also draw Fibonacci retracement before entering a transaction and trend lines.
I look always first at the daily chart, then H4, M30 and take decision on M15.
Last friday, I did only two trades throughout the day, but two good ones: EUR/USD and USD/CHF (see pictures).
My view is: Foreign Exchange is similar to a casino. The more you stay, the less you win.
That's why I use certain hours only for the pairs. And don't trade beyond the specific hours. My goal is 20-40 pips a day.