Best daily strategies...

[ttt123]

Hi guys,

I'm reading this forum and I think it's great. There are very experienced traders here. That's why I'd like to ask you for some help. I'm searching the web for the best daily strategies and I'd like to hear your opinion which they are and where I could find some information about them.


Thank you in advance

REGARDS

[gazuz]

Believe me.. this is one of the most common questions asked here. It really depends on the goal. Some people really find gold mines depending on what they are aiming for. For example some people are succesful with big pips every month, some are succesful with tiny pips every day. Some just don't make any profit, some lose all their money. Really it depends on the trader and his or her goals in the market. There is no real answer to your question. Browse around, understand how they work and you might find the system that works best for you

[scorpion]

hey tt123, gazuz is right. Different people trade differently. I suggest you play with as many as indicators you can.

[ttt123]

Thank you for answering guys. I've traded manually intraday so far but I should go back to work. It's a job which will not allow me to have access to the web. That's why I need a system which will allow me to watch the market once a day - in the morning for instance.
I know that the trader goals are very important. My goals are not so high /my opinion/ - 100-150 pips per month. I just want to learn as much as possible for daily strategies and to get the best from them. I asked for information because I knew that there were very experienced traders in this forex forum.


Thank you again

REGARDS

[gazuz]

As far as strategies go its even possible to have some which you don't watch the market at all. For example I look at the market in the morning and night so like you, twice a day. Then I just close my positions on friday morning and open back on monday morning (Pacific Standard Time). Anywho the whole deal behind the strategies here is understand what you want from the market, you mentioned you were a day trader, there are plenty of scalpers around. You might want to use pivot points also? or breakout theories using every 3 candles. Really there is an infinite way to make strategies.

Remember though, bad money managment will kill a strategy. Excellent money managment can turn ANY system into pure gold. Though that is rather rare to find and if anyone knows it im sure they dont share it with anyone.

Look around the threads, also check out the yahoo groups of MetaTrader and check out the files they have there

http://finance.groups.yahoo.com/grou...nd_Indicators/

[zztop]

A-h-a a good one scorpion

[ttt123]

I checked that link thank you again for your answers guys, I still search... I've read about a trader using a neural network. I'm sure that you've heard about that, I just wonder if it's so useful how a lot of people claim...

REGARDS

[scorpion]

I came across a few tools for use in designing Artifical Neural Networks to detect price patterns. But I've never seen any profitable ANN that works like money printing machine before. Simply they're untold in public places, i guess.

Months ago I ran a few tests with back-propagated ANN, and i found this piece of technology so mysterious. It was like there is a ghost giving signals in my computer! Strange buy & sell signals just came out of thin air--it's strange because I didn't hard-code any logics into the ANN like I usually do in MQL.

Back to the point, the usefulness of ANN is mainly depend on the way you teach it. If you throw a bunch of unrelated data into ANN, it'll learn random patterns; thus, rendering it useless. Say if you throw years of economy data and EURUSD data into the ANN, it'll learn the pattern of EURUSD and economy data; hence, it's useful in a way that it can forecast the effect of upcoming economy events on EURUSD. Such patterns do exist. Two pattern my brain learnt these few years: EURUSD moves sharply is easy to predict on the first Friday of every month, and BOJ usually intervenes during the last quarter every year.

[ttt123]

Thank you for sharing with us, mate. That's very interesting. I was told by a trader who uses Neural Network that he has worked on it /made it/ for 5-6 years, of course he didn't tell me more details or how it works.
The last, I understood, was that he caught some good pips, from March/10/2006 to this moment he only missed 44 pips !!!!! This is around 500 pips profit - I think that NN worths...

REGARDS

[scorpion]

Naturally, holygrail system owners like silence; there's simply no reason to reveal the secret. If they did, it would be flame instead fame, because there're quite a lot of insanes ready to shout "f... you" without any reason at all. So, holygrails are generally not on UNICEF list.