Which is the best strategy for you ?

Which is the best strategy for you ?


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tar

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Strange question , i know there is diffrenet market situtions , but please share your view , which is the best strategy for you to daytrade ( major fx , main indices ... ) ?
 
Depends on market conditions.

It used to be energy stuff such as crude oil futures. Now it's equity index futures and bond future. I mainly do mean reversion type stuff.
 
As a scalper i think the best is to use the whole 3 strategies
 
Break of Inside bars, low risk entries, good R:R (usually)
 
Neither one specifically.My plan aims to achieve all 3. Though i dont try to pick bottoms per -se, i will look for a signal one candle after the bottom has been (hopefully) formed.
 
Inside Bars With Trend

H1 inside bars with the daily trend. Been trying the DIBS method for a few weeks now with some good success.

Shane
 
H1 inside bars with the daily trend. Been trying the DIBS method for a few weeks now with some good success.

Shane

Good plan, was a good one this morning in GBPUSD first thing around 157.25, should've been able to get into the 160's with that one.

Contrary to my name i don't trade Fx (yet) but have been demo'ing this the last couple of days on IG and thinking of having a go with some real cash.
 
Good plan, was a good one this morning in GBPUSD first thing around 157.25, should've been able to get into the 160's with that one.

Contrary to my name i don't trade Fx (yet) but have been demo'ing this the last couple of days on IG and thinking of having a go with some real cash.

Ya it's working good so far. I didnt take that one you mentioned this morning(missed it) but got on yesterdays GBPUSD at 9.00. got in at 1.6192 with two trades and 41pips SL. I took one off at 1:1 and the second this morning got stopped out at 1.5819 for 9:1 on the second trade. I find the hardest part is the exits. for example i left another 200 pips on the table in this trade.that pi~~es me off. What you do for you exits foredog?
(sorry to go off thread topic)

Shane
 
I'm probably the wrong person to ask, don't really trade FX (just thought the name sounded funny) but i use the same principal daytrading stocks, i just try and trail behind the last few candles, but thats because i don't like to leave stuff overnight as the stock markets closed.

It seems like you've done OK getting 9:1, but what i'd do is let the 2nd half run but once i've got about 3:! move my stop to an area below a candle equal to 1:1, then if it does reverse at least you've got something, then as profit increases try and trail it a few candles behind.

It's all trial and error really, depends how willing you are to give back say a 200 pip profit to try and get another 400........
 
Strange question , i know there is diffrenet market situtions , but please share your view , which is the best strategy for you to daytrade ( major fx , main indices ... ) ?

I trade major FX pairs. My best results come from break outs on the 5 min chart that move in the same direction as the longer term trend.
 
There is no best strategy, as it is dependant upon the trader...any strategy (manual, automated, combo, darts, etc) has to flow from the trader and his/her perspective of the markets. Intelligence is highly dependant upon emotions/instinct and it would be almost impossible for a trader to be sucessfuly long-term if their strategy/approach does not mesh their persona. For example...as a theoretical example, you could give me a 100 people who want to trade for a living and I will give them a "system" wins 80% of the time...the probabality is high that only 1 or 2 of them will be able to make a living long term from this why ? Because it is very hard to let go and trust something else...so the would be traders usign the system will start to overide it, change the orders, try to pick better exits/entries, get scared and take profits too early, etc,etc
 
It's all trial and error really, depends how willing you are to give back say a 200 pip profit to try and get another 400........

Very true. Sometimes the momentum of the trade keeps in your favour and it can more than make up for some stopped trades !!

So how's your forex demo trading actually going for you? I'm still working from a small account with Alpari. I need the flexibility of small lots. I wouldnt really know where to start with what stocks to watch!!
 
I've only had the forex account up and running this week so small up but lets call that beginners luck!

i worked in the city for about 8 years so i had a grounding in stocks so i stick to what i know, but i usually have a few stocks i watch and add a few more to the list that are making new highs/lows in the day, basically trying to find the ones that move.

I do like the DIBS method, it's simple and so obvious that you almost feel its too easy to work, some of the time you're taking a hit but mostly your wins should more than make up for your losses.

And

it should really work in any market, Indices, FX, Oil, Gold etc

maybe a few more for the demo account once i'm confident with cable!
 
I've only had the forex account up and running this week so small up but lets call that beginners luck!

i worked in the city for about 8 years so i had a grounding in stocks so i stick to what i know, but i usually have a few stocks i watch and add a few more to the list that are making new highs/lows in the day, basically trying to find the ones that move.

I do like the DIBS method, it's simple and so obvious that you almost feel its too easy to work, some of the time you're taking a hit but mostly your wins should more than make up for your losses.

And

it should really work in any market, Indices, FX, Oil, Gold etc

maybe a few more for the demo account once i'm confident with cable!

Ya its really is simple but good. I havent tried it on other markets but think il try some demo's like yourself. the hardest part by far is exits, and ofcourse not exiting being the main thing! Good pip'n!(y)

Shane
 
I like using price breaks! and patterns but i also using a filter so i dont get caught in head fakes or flase break out. You can use the trend and reveral bars but i guess it comes down to timing! Or having too many indicators
 
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