Hi folks, this thread is intended to help new and upcoming forex traders. Please post only your trading challenges and/or trading solutions.


Below is a screen capture of my trading chart, and how I apply them to my trade.

Good luck and happy pips.

How it works -

The blue and red lines are EMA 5 and 10 respectively. The red arrow is a trend reversal arrow based on VSA ( Volume spread analysis) and the blue arrow is simply programmed to sound an alert when RSI crosses above 50 simultaneously with the EMA crosses.

First I wait to spot the Red arrow, I enter when the blue arrow confirms in the same direction ; this way, I get to filter the false trends.


Below is a live account statement traded with this simple system.  You can google most of these indicators.

Good luck in your trading

I forgot to mention that risk management is very important. apart from strategy, you should also protect your capital. I have a very simple risk management formula

lot size = (% of capital to expose) * (capital) / stop loss


For more aggressive traders with very large risk appetite just scale your lot size as follows-

0.1 /41000
0.2 .$2000
0.3 / $3000 etc


Also observe that I use this system on EURUSD only (it works well with every pair, but I have traded and researched on EURUSD for 3 years)

Be patient and you will make it to the top


Cheers

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