Can anyone recommend a strategy?

RoiFX

Newbie
6 0
Price action can be good strategy for you. This price action can give you good signal. With the candle, you can generate signals anytime. Its success rate is also high. So you can follow this as your trading strategy
 

SmartGeek

Active member
206 6
I believe that the only and useful strategy that you should follow in Forex Trading is that we need to change our strategy from time to time.
 

darktone

Veteren member
3,916 1,000
I suggest the 'tomtar averaging down methodology', buying low and selling high.

The main problem imo is that the tarder unknowing selects mediocre methods that accommodate their psychological weakness. Its easier to do this than identify and address their own issues, freeing themselves to pursue better methods.
 

eugeneellis

Newbie
2 0
Strategy has its own advantages and disadvantages there is nothing like a perfect one. We have to select the best strategy that works well or use it as a trial. When you keep on trading for an extended period of time, you can arrive at the best strategy that helps you earn money.
 

darktone

Veteren member
3,916 1,000
Lets give something useful instead saying something of what people already know. Here is a simple one I call "A Elephant cannot hide its footsteps". No indicators, just pure PA. (The arrow you see has been placed there to highlight this candlestick). Good Luck :)

https://www.mql5.com/en/charts/6222164/eurusd-m15-oanda-division1
Unless they walk on tarmac i spose. :p

Seriously tho, what does this particular 'part history of what price did over 15 minutes bar' supposed to tell us?

 

forker

Senior member
2,688 499
The reference is the arrow and by the fact that it's called elephant is probably in reference to it being a large candle
 

XxixixX

Junior member
18 1
Elephant means large players entering the market. Look at the 2nd bar after the first one labeled, (another larger bar) and another one several bars later. It is evident in this situation scale buying was occurring. "Learn to swim with the Whales" :)
 

forker

Senior member
2,688 499
Elephant means large players entering the market. Look at the 2nd bar after the first one labeled, (another larger bar) and another one several bars later. It is evident in this situation scale buying was occurring. "Learn to swim with the Whales" :)
for every example you have of large bars giving this price action, i can show as many examples where it is not the case. On its own it doesn't give any edge - just saying
 
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XxixixX

Junior member
18 1
Not going to dispute this, thread is labeled "Can anyone recommend a strategy?" Let me add this element, once a trend is started adding to a winning position will help the wins far out pace the losers. Not every trade is a winner and losing trades will occur. Just saying :)
 

dbphoenix

Legendary member
6,927 1,233
You're both right. And you're both wrong. A single hindsight bar/candle doesn't suggest anything, much less prove it. Shift the entire chart to the right so that the bar in question lies on the right edge and you may have something to chew on. Otherwise, not so much.