FREE FOREX STRATEGIES

True concepts of trading


Written by Peter

Hi every one I'm Peter. I'm glad about forums like this cos its obvious lots of people are reading it. I've being trading fx for years & I know what it feels like to loose consistently with false hope that tomorrow will be better. Well, it for sure can be but your may have to consider some few concepts I'm going to share with you.

Please before I start I'd like to beg you not to buy any indicator or system. Any real stuff can't be sold; one of this days your will understand it.

#1. The first concept is to decide what kind of trader you'd want to be
i.e a long term trader or a short term trader, & then focus on one for now cos if your don't master one you'll loose.


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hi peter; are you still active here? on point 4 are you referring to the RSI? thanks

thank you. more power

GBP/USD pair goes up = GBP is strong, USD is weak.
GBP/USD pair goes down = GBP is weak, USD is strong.

In case GBP/USD,how I know that GBP in strength or weakness/USD in strength or weakness?

Thanx for giving way of thinking

Thanks for these tips Peter, some I knew already or you confirmed my observations. One question though. Point #5: "use trailing stops for gravity but not for exit"

What does that mean, exactly?

Thanks in advance!

dear peter
first i thamks 2 u,
your concept was change my atitude here after i follow this methods

regads
c.k.muthu
chennai india

Very nice post, good luck! ;-)

here you go, AS-Pip_Chart.mq4

the chart is created using phsycological levels by using default 25 pips (can be changed), and sourced from M5 timeframe(can also be changed), M1 being most accurate, higher timeframes are to be used for higher pip grid only. Please note that indicator works for any timeframe however it uses the specified timeframe in its settings as a source, so basically by applying it to different timeframes without changing the source setting is only used for better viewing purposes, and also it is best used without the MT4 platforms grid (ctrl-g to hide).

i would appreciate any comments on the indicator from anyone,

Amir

Philip, your post helped me alot (regarding timeless charts), i am a software developer and have developed a great timeless chart for MT4, will be posting it as soon as i can,

Amir

Well Peter, I certainly agree with you on all these points, but #2. There are some strategies which work on sinlge TF (only), but I must also admit that they are very rare.
As far asmust indicators are concerned I would recommend eliminating time completely from your charts (I refer to constant range bars and renko charts). This way you get the big picture without much noise, but unfortunately these charts are not that easy to get. You either need a special charting package or use custom charts (offline charts) for MetaTrader.

Regards,

Philipp

add news time there tremendous moves at news currency of high impact.

THANKS FOR THESE TIPS. E-WHAT

thank you for this new ideas,please do you have a website to learn more on this.
i want to know more about the rate of change of a currency pair as you defined

can you explain point 4 more?


 

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