This is my first post here. I’m a fulltime stock trader and I started trading forex at the beginning of 2008. My methods for daytrading stocks won’t work with forex. I tried a few strategies using moving averages or indicators but I got mixed results. So four weeks ago I decided to really simplify my trading. I dropped all indicators and use only Bollinger Bands and candlestick patterns. I use the 30 and 60 minute charts and look for just a few simple candle patterns.
Various doji’s, Evening/morning stars
3 inside up/down
3 outside up/down
3 white soldiers/3 black crows
Dark cloud cover/piercing line
So far so good. I know it’s only been four weeks but I have 56 trades and 82%% win rate. I see so many people using complex strategies and I was wondering if anyone was doing something similar to me or had other simple systems. I’ve been trading fulltime for over 10 years and one thing I see too much of is people making trading more complicated than it needs to be, especially from new traders.
Max