Hi Everyone,
I'm brand new to the FX market. I've been learning as much as I can and demo trading for about a month now. Not alot of success so far but that doesn't worry me as it's early days yet! haha
My problem though, is it seems almost all the information out there deals with day trading on short term charts. I don't have time for that as I live in Australia for starters(so can't catch much of the "heavy" trading periods that day trading seems to work well in) and have a job.
I was wondering if anyone can point me in the right direction for a simple trading strategy that can be worked from a daily chart. I'm not looking for the holy grail or anything, just something that is easy to use and understand, gives me a slightly better than 50-50 success rate and can be used for trading positions of 1 day up to about 1 week. Is that asking too much?
About the only indicators I understand so far are moving averages, the MACD, the DMI and bollinger bands. I've read about the RSI and Stochastics but am unsure exactly how to use them and when.
Anyway, any suggestions would be greatly appreciated.
Regards,
PKFFW