Day Trading Methodology???

Hi there...

I'm new to the Forex (just DEMO accounts for the time being), but have been looking to really study and implement some good technical "day trading" strategies. I'm not looking for someone to feed me trade alerts all-day long, but to take the time to learn the "skill" of day trading by implementing a strategy that is currently working ALL of you that read this!

If you have any suggestions, or good recommendations - please feel free to share.... Thanks!

TAGTRADE said:

Hi there...

I'm new to the Forex (just DEMO accounts for the time being), but have been looking to really study and implement some good technical "day trading" strategies. I'm not looking for someone to feed me trade alerts all-day long, but to take the time to learn the "skill" of day trading by implementing a strategy that is currently working ALL of you that read this!

If you have any suggestions, or good recommendations - please feel free to share.... Thanks!

Click to expand...

http://www.trade2win.com/boards/forex-strategies-systems/25770-system-methodology.html

Scroll down a few posts to the word doc.

Graemenash - Thanks for the link to a previous forum... is this a strategy that you are using currently? If so, how is it working for you? I have to be honest and say that I was tracking for most of the document, but there were certainly parts where I felt like was reading a foreign language (still not totally familar with all of the FX lingo and Indicators suggested). Drop me a note when you have a sec... Thanks again!

TAGTRADE said:

Graemenash - Thanks for the link to a previous forum... is this a strategy that you are using currently? If so, how is it working for you? I have to be honest and say that I was tracking for most of the document, but there were certainly parts where I felt like was reading a foreign language (still not totally familar with all of the FX lingo and Indicators suggested). Drop me a note when you have a sec... Thanks again!

Click to expand...

Hi Tagtrade. I have been following bbmac's methods for over 3 years now and my current approach is largely based on what is written in that document linked above with a few differences tailored to suit my own personal knowledge/experience. I use it mainly for swing trading and only day-trade occasionally, I use some different indicators and indicator settings, and I also have a different method of entering and managing trades.

However the basic method of identifying potential trades is pretty much the same, probably the best thing you can do is download a copy of Metatrader 4 and set up your chart templates as in the doc and just try to spot the setups as they are described. It's a pretty complex setup at first especially if you're a newcomer to FX but as a start point it's as good as any really.

The fact that you have been using the "framework" of this Trading Strategy for the last 3 years tells me that it is working out okay for you. Graemenash I really appreciate your insite and I'll take your advice and download a copy of Metatrader 4... and try to setup the chart templates as mentioned in the doc. Thanks again and all the best to you and your trading!

TAGTRADE said:

The fact that you have been using the "framework" of this Trading Strategy for the last 3 years tells me that it is working out okay for you. Graemenash I really appreciate your insite and I'll take your advice and download a copy of Metatrader 4... and try to setup the chart templates as mentioned in the doc. Thanks again and all the best to you and your trading!

Click to expand...

Review bbmac's other T2W posts too, plenty of example trades and other info. Good luck