As a'full time' trader of several years experience I look at the systems and threads within this Forum with great compassion and understanding. It's apparent that there are numerous guys and gals out there who are struggling to earn a living from Forex trading using achievement. Many, it would seem, jump from thread to thread searching for the holy grail just to be disappointed and disillusioned when they finally take the plunge and begin trading there have hard earned cash.
I too fought for several years before it finally clicked that trading is actually very very simple, very simple and very profitable.
I will disclose my'amazing system' if that is demanded but there isn't anything new or unique about my trading style. Indeed it's clear from the threads which there are traders out there who are far a lot more knowlegeable about the fundamental and technical aspects of trading but fail because they cannot find the bigger image. .
Here is the bigger image
1. Don't waste your time piddling about on 10,15,30,60, 5 or even 4H charts. Anything less than 4H charts are for adrenalin junkies that are hooked on trading. I you do earn money on these time frames of you'll give it all back over time. The 5 percent must lead lifestyles . Personally I NEVER spend over half an hour a day searching for transactions. The remainder of my time I fish, travel, sunbathe and earn love.You earn more cash by trading . Overtrading=reduction
2. On daily charts look for curreny pairs which are ranging. Don't attempt to exchange these pairs but wait for a break out of the range in either direction.
3. Get in the trade.
4. Remain in the trade before the trend turns into a range or setbacks,(several weeks or months) Use a trailing stop loss to lock in your profits but the stop loss must be wide enough to keep you in the trade during retracements.
5. If you have just missed a new trend (.eg. Current USD strength) wait for the inevitable retrace and get in in the direction of the trend.
And that's it. If you would like to use MACD, stochastics, gymnastics, heimlich maneuvers etc then thats nice but don,t forget the basics
IDENTIFY A TREND/ GETIN/ RIDE THE TREND TO THE END OVER WEEKS/MONTHS YEARS. /MAKE LOTS OF MONEY
Locate two great trends a year, thats all you need to do to earn real money.