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  1. #1
    Rookie Member cioniceis's Avatar

    Near Perfect Trading !!!

    Hey there! I'm new to CommuniTraders and am still trying to figure out a good system. I have been using the simplified strategy as outlined in the school on BOTS. but i find myself having good success but nail biting strike prices. Some times i will get caught up in what looks like an excellent signal but forget to apply it to shorter time frames to find a good point to strike.

    i'm 25, so i'm young, so i hope that some of you could maybe offer some advice on striking on the simplified strategy in the BOTS school curriculum and also what time frames i should apply.

    Id also like any input on weekly expiry trading. I want to take 1 or 2 near perfectly safe trades in a week so i don't have to baby sit my monitors. i thought about using higher time frames and similar indicators and trading on either side of a 30 period MA. I'm a super active person and i just don't really have time to sit and worry if my short time frame trade is valid or if its going OTM. that's why i turn to trading, i don't want to be tied down to any specific area to make money and i don't want to stress about the market all the time. that's what attracted me to swing trading but then i got caught up in binaries. what time frames, indicators and strategy should i use for such an endeavor?

    also does anyone know if there is an EA i can apply to my charts to alert me of potential trades that i can then review and decide to strike or not for either strategy. preferably the later.

  2. #2
    Legendry Member Okane's Avatar
    Hey there.
    I just wrote you briefly on the other thread but let me
    try to give a better answer here .

    You can't fully take advantage of a strategy until you gain some experience.
    That's why you should keep trading with it and note your own drawbacks and mistakes.
    Learn from them and skill up. You can't expect the/any strategy to fully work for you
    if you lack experience. Although indicators and EA's are indeed mechanical, trading itself isn't
    and you still need to sit down the hours it requires before you can just partially grasp what's going on,
    on the charts. So don't be in a hurry, take your time, let yourself fail here and there and take advantage of
    those failures as a valuable lesson.

    If you want to learn how to take long term trades you need to understand how to read the charts correctly.
    I suggest you begin by reading this article:
    Live Webinar: Hidden Content
    Join My Skype Group: Hidden Content

  3. #3
    Legendry Member Michael Hodges's Avatar
    Well,you really shouldn't have to sit and watch prices all day anyway.First, this is binary so for the most part watching prices while the option is open is nothing but a frustration causer. My next advice will be to use the daily charts for weekly expiry, and to only trade on "strong" signals. This may mean, if you are only following one asset, that there may not be a "strong" signal or two each week. I would suggest starting with a MACD, stochastic, RSI, Moving Average or other "simple" system, get real comfortable with what constitutes a strong signal ie trend or not trend following, break outs, crossovers and etc then only trade those signals. Also, use good money management like in only trade 5% of your account or less, more like 2% if you can since you are still new, and then don't watch the market after you make the trade. Analyze the charts over the weekend, get an idea of what you think might happen, wait for the signal and then trade and forget... the day to day news and market fluctuations can make you go crazy if all you do is watch them... any one day can make a good trade look bad, its not the day to day that counts but where the trade ends that counts....

  4. #4
    Veteran Member Dan21's Avatar
    Listen to Michael. He's more than right. By the way, don't set your goals for perfection, because it's going to be very hard for you to feel like you're improving. There's no such thing as nearly perfect. You can only be a good analyzer of the situation.

  5. #5
    Legendry Member milos's Avatar
    My advice to you the following
    1. Use 2-5% risk management per trade
    2. Daily time frame expiry use the 1H charts
    3.Trading tools MACD(12,26,9)
    4. RSI (30,70)
    5. Bollinger Bands(2,20)
    6. Fibonacci retracement (38.2%, 61.8%)
    How does it work>
    For call option on 1 days, 3days or a week expiry it is needed the following
    MACD oversold zone below 30
    RSI below 30
    B Bands price should rejected from the lower Bollinger Bands, rejected from middle to upper Bollinger Bands or breaks upper Bollinger Bands)
    Price has to rejected from 38.2% levels and continues to rise.Also of breaks 61.8 it is the right signal.
    PUT Option the opposite direction. Price should break lower Bollinger Bands, RSI should be at above 70 levels or more,price has broken 38.25 Fibonacci levels and continues downward trend line.

  6. #6
    Legendry Member Michael Hodges's Avatar
    Milos strategy is one you can build on... and good for day trading, and comes with support....

  7. #7
    Master Member SeasaltMcFish's Avatar
    I wonder: does the setup of your MT4 broker makes a difference when trading on a day chart?

    F.i. mine is set on MGT+2, but maybe others have a different close time on the daily? I can imagine it can give different results.

  8. #8
    Veteran Member Dan21's Avatar
    Quote Originally Posted by SeasaltMcFish View Post
    I wonder: does the setup of your MT4 broker makes a difference when trading on a day chart?

    F.i. mine is set on MGT+2, but maybe others have a different close time on the daily? I can imagine it can give different results.
    That's a very curious question actually.

  9. #9
    Rookie Member Tim The man's Avatar
    Lots of complicated terminology with milos post, where can I read more about it ?

  10. #10
    Legendry Member milos's Avatar
    Quote Originally Posted by Tim The man View Post
    Lots of complicated terminology with milos post, where can I read more about it ?
    I'm sorry Tim if it was complicated. Here is link below

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