I haven't posted in a while, but I just wanted to share some of the winners I have had in the last couple of months in Forex. I have a bunch of pictures of the before and after that are pretty much self explanatory.
My current system is very simple and only uses two indicators on a 4 hour chart.
- A 200 period Simple Moving Average.
- Parabolic SAR on the standard setting
For the Aussie trade above, I moved the stops to breakeven shortly before the first target was hit, and was lucky enough to have the second target close at .9100 the next day.
The next trade is a short EUR/USD trade that I took because the Euro had broken down through the 200SMA on the 4 hour chart and failed a further test of the Moving average making a lower low. I watched as Euro struggled along the moving average, but when price action moved below the wick of the lowest candle of the previous three days, I pulled the trigger.
On this one price action returned and was stopped out for about 50 pips above breakeven on the second lot.
If you want to talk swing trading or have any questions become a follower of the Small Time Trader. In the near future, I'll post some of my latest options trades. Some winners, some not, but I'm always learning.
Follow me on Twitter @ B50cal1978
I try to post everything real time as far as currency trades go, if you want to see what I'm looking at.
Good luck trading,