Forex questions

can anybody explain to me, or tell me in a few paragraphs however long it takes, how you pick your trades and why? I'm looking for specifics, so if you can tell me which pairs, what conditions, time frames, under which you take your trades I would appreciate it.

Thank you so much

so what you are asking for is for someone to reveal their trading edge that they have probably spent years devloping, to you a complete stranger ?

G/L with that.

semagabo said:

can anybody explain to me, or tell me in a few paragraphs however long it takes, how you pick your trades and why? I'm looking for specifics, so if you can tell me which pairs, what conditions, time frames, under which you take your trades I would appreciate it.

Thank you so much

Click to expand...

bbmac said:

so what you are asking for is for someone to reveal their trading edge that they have probably spent years devloping, to you a complete stranger ?

G/L with that.

Click to expand...

Ain't that just rude to a new community member? I'm not asking for someone to reveal something, I'm just asking for advices why not helping others ? if I was that expert and somebody asked these questions I won't hesitate to answer :|

My point is that you probably won't get a trading edge given to you and in any event this would probably be useless to you anyway as chances are it most likely won't match your personality type and individual unique needs tolerances and preferences....What you might get is a whole series of generalistations that you may or may not find useful. In this spirit:

I trade forex, I trade gbpusd and 95% of my trades are on this pairing. I choose to trade multiple set-ups on one pairing as opposed to one or fewer set-ups on multiple pairings/instruments.

I look at price over 3 t/f's...the shortest, the middle and the longest and these decrease/increase by a factor of x4-5.

I am looking to identify the general sentiment on each t/f (by means of the 100 and 200sma's and their relationship to each other) and the overall price action (opa) trend on each t/f by means of price peak/valley analysis.

Having so done, I will the identify the main potential support/resistance factors on the longest t/f (and above) and potential sbr/rbs factors on the middle t/f. I will then look to identify one (or more supporting on the t/f's above it) of these repeating set-ups mentioned above, supported by price action itself on t/f's below that the potential supp/res/sbr/rbs is present on and in the context of opa conditions.

Confluence is my guiding principle and this ensures that I enter the market only when the greatest amount of technical confluence has developed for the highest probability trading opportunities.

Hope this is of some use to you, and that you understand the limitations of the likely responses to your question.

G/L

semagabo said:

Ain't that just rude to a new community member? I'm not asking for someone to reveal something, I'm just asking for advices why not helping others ? if I was that expert and somebody asked these questions I won't hesitate to answer :|

Click to expand...

The biggest thing is locate strategies that fit your personality. You can get very technical or not so technical. Also, you need to decide if you are going for short term or long term. Most strategies fit any timeframe but you will need to decide what charts you will use. I keep my trading simple with just a few indicators and on long timeframes to keep my trades down. Below is a link to a list of setups that might work for you or they might not. Have a look and let me know.

Trade setups