Testimonials from Traders
Zig Zag Strategy
Any currency pair
Any time frame.. just keep in mind that the smallest the time frame the faster the action will be.
When to buy
Red lines are resistance and blue lines are support.. you want to buy when you see
blue lines and red lines climbing up which translate to higher highs and Higher lows.
Once you enter position make sure you put a stop loss a little under the previous
Swing.
This is a sample of a price too far to buy.
All you can do if price is too far is wait for a up line to be formed and trade it by Shorting it or Selling.
Since these candle sticks form every 4 hours. Here are some times when you can come back to check
if the up line has been drawn between these hours:
1 AM. - 5 AM. - 9 AM. - 1 PM. - 5 PM. - 9 PM.
Once it does. You can exit by taking profits if you are in a trade or enter a new position.
When to sell
Make sure price is not too far from the previous swing up to enter a sell position.
Once you enter position make sure you put a stop loss a little under the previous
Swing up.
Don't risk if price is too far. You can always wait for another swing.
Remember if price is too far.Wait for the line to be draw and trade the opposite.
A new tool is the automatic pip counter.
(download here) I got this from a forex factory thread.. very cool indy.
Conclusion
Trade at least 10 trades. Let me know how many pips you loose and how many pips
you win. Please do the trades on Demo accounts. Don't trade real money.
Feel free to ask any questions or send comments to my e-mail (click here)
Disclaimer
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Trading System Forex expressly disclaims all liability for the use or interpretation by others of information contained in this forum. Decisions based on information contained herein are the sole responsibility of the visitor, and in exchange for using the information contained in this website the visitor agrees to hold Trading System Forex and its affiliates harmless against any claims for direct, or indirect, damages for decisions made by the visitor based fully or partially on such information.
Whatever is the manual trading method, or the automated trading strategy, don't forget to test it first in demo. Also be aware that past performance is no guarantee of future results. ?
