Who’s online There are currently 9 trading the daily chart in forex online. Submitted by Edward Revy on February 28, 2007 – 14:36. It will be the major trend.
Advantages: using two Stochastic indicators helps to see the major trend and the swings inside it. This gives more accurate entry ruless and gives a good exit rules. Disadvantages: needs constant monitoring, and again we are dealing with a lagging indicator. Submitted by User on November 19, 2007 – 22:24. Is this strategy suitable for scalping? Submitted by Edward Revy on November 20, 2007 – 02:08.
However further testing is required to find the most suitable currency pair. Submitted by User on November 24, 2007 – 16:07. Are there strategies that work well on some currency pairs while they won’t do the same on other pairs? Is there a reason for this to happen?
Submitted by Edward Revy on November 25, 2007 – 16:09. Many strategies in Forex are specifically “designed” for certain currency pairs. Dollar currently has the lowest spread. This means that scalpers who aim just at 3-5 pips profit per trade don’t have to pay high spread cost and thus wait long before actually making their profits.
And usually there isn’t much room for spreads in scalping strategies: you either win your 5 pips or you are going to lose. Second is currency “behavior”, which includes volatility, average pips move per day etc. USD are known to regularly produce large moves, which are beneficial for traders using breakout strategies. In both cases it is always suggested to choose one or at most two currency pairs to trade with and learn as much as possible about their behavior in the Forex market.
Submitted by User on December 3, 2007 – 16:42. What do I do when the strategy is suposed to work on a 1 hour or 1 day chart and the daily chart gives a buy signal while the 1 hour cnart gives a sell signal? I’m talking about any strategy, not about a specific one. Submitted by Edward Revy on December 3, 2007 – 17:06. Solution is quite simple in this case. If you are an intra-day trader or a scalper and not planing to leave open positions overnight – use 1 hour chart signal only.