Elma Posted June 30, 2011 Report Posted June 30, 2011 Hi All, For me i think the best time frame to trade with is on Daily chart because i'm not full time trader which can sit in front of pc all the day. I only have 2-3hrs per days to trade forex. I'm studying daily trending pattern and choosing best indicator to suit my style. Anyone have any idea on which is the must have indicator to put in Daily tf are welcome to propose here. I'm looking for the best indicator to show trending and ranging market in daily tf. Quote ~Money often costs too much~
conglo Posted June 30, 2011 Report Posted June 30, 2011 (edited) You can do much with daily bars and a simple moving average or two. Especially E/U. You don't need much else. My suggestion: download the FREE Forex Strategy Builder here: http://forexsb.com/wiki/start Play with it, have it design something for you. The best method is the one you design for yourself. Another suggestion: FORGET STOPS. You don't need them with a simple close-and-reverse method. I've posted several daily methods on this forum, it's late and I need to sleep, so just click on my name over there to the left and search "threads started by conglo" or whatever it says and you'll turn something up. Hi All, For me i think the best time frame to trade with is on Daily chart because i'm not full time trader which can sit in front of pc all the day. I only have 2-3hrs per days to trade forex. I'm studying daily trending pattern and choosing best indicator to suit my style. Anyone have any idea on which is the must have indicator to put in Daily tf are welcome to propose here. I'm looking for the best indicator to show trending and ranging market in daily tf. Edited June 30, 2011 by conglo Elma 1 Quote
Takingur Posted June 30, 2011 Report Posted June 30, 2011 14 SMA, 14 period RSI and the 200 SMA. This setup produced just over 600 pips for me on the E/U this month. Elma 1 Quote
Elma Posted June 30, 2011 Author Report Posted June 30, 2011 Thanks for reply and idea.. I'm also looking forward to use MA as one of the indi to show daily trend... difficult part is how to avoid ranging market? Quote ~Money often costs too much~
Takingur Posted June 30, 2011 Report Posted June 30, 2011 Thanks for reply and idea.. I'm also looking forward to use MA as one of the indi to show daily trend... difficult part is how to avoid ranging market? Trade breakouts. I love it when the market goes into consolidation, a sure sign of a future nice move. Quote
Elma Posted June 30, 2011 Author Report Posted June 30, 2011 Conglo, Among all the Daily system you have share, can you tell me which system or indicator are the best? Quote ~Money often costs too much~
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.