Forex trading strategy #5 (Stochastic lines crossover)
Submitted by Edward Revy on February 28, 2007 - 14:34.
Here is a very basic overview of a role of a Stochastic indicator in the Forex trading. Knowing exactly what to expect from Stochastic, if you ever plan to add it to your own system, will affect trading results dramatically. For this trading method:
Currency pair: Any.
Time frame: Any.
Indicator: Stochastic (14, 3, 3)
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Hi da prince,
First of all I would strongly recommend stopping trading with real account and return back to demo trading. If you lose way more than you panned to and it happens constantly, it means you've got to work on your trading strategy, probably review and make some changes and then start with demo testing all over again.
Regarding indicators, there is no absolutely good indicators, unless you write your own one, but you would benefit well from focusing on Pivot point trading, trend lines, support/resistance levels, Fibonacci numbers, EMA 200, and 20, Stochastic, MACD and RSI.
It takes time to become profitable in Forex, so don't be disappointed if your first experience is more about losses than wins, demo trade until you're confident you can switch to live account, but if you like to trade real now, make sure you trade the smallest lots possible.
Regards,
Edward
hi
nice discovering this site. u ve done a good job.
keep it up. am relatively new in forex but am having difficulty
knowing a very good indicator.
pls i need your help quickly before i loose all
my invested capital.
looking forwards 2 hearing from u soonest.
da prince
Hi Abbey,
I would be happy to suggest you one, but I'm not sure this would be the right thing to do. First of all because I haven't traded with all (or at least with majority) of trading platforms available today to be able to make rational comparison. And also I don't want to give credits to any trading platform or a broker and in a year or two regret (hopefully not) about my recommendations because the recommended broker has changed its policy and became a bad one... Comments will stay but situation may change.
You may probably check a comment I posted here:
http://forex-strategies-revealed.com/teodosi-simple-system#comment-956 ;
or refer to a website that specializes on providing information about Forex brokers online.
and good luck with you research!
Regards,
Edward
Hi Edward, as an experienced forex trader, can you recommend which trading platform is reputable and trustworthy.
Abbey
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