Forex Manual strategies to complement FAP Turbo
June 18th, 2009
Now if your running a forex robot like FAP Turbo or MegaDroid or both, then you’ll see that they trade mostly at nights when the markets are calm. Both robots use scalping strategy with short term quick profit trades. I have found both robots profitable and they grow my account with little or no effort “while I sleep. On the other hand there are other occassions that the Forex markets could be very profitable and which you are missing out on.
Day trading markets and long term trend trading markets.
To take advantage of these markets you can use manual strategies to greatly complement your robots profits.
The difficulty with manual strategies is that they take time to develop, test and tweek. As well as this you’ll usually find that serval strategies are needed to cope with different market conditions.
This video shows how to use a simple manual strategy that work well in many market conditions. But be careful ! Test it lengthily on a demo account while keeping a clear trading log book to note down all your trades and results, before using it on a live account.
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As you can see the strategy uses 2 Stochastic indicators, one to detect trend and one to detect precise over bought and over sold situations.
The indicators I use can be complemented with others and you should keep an eye out for divergence and hidden divergence between the main chart and the indicators. This can show a risky trade when all the other indicators are GO.
Here ’s an example of an entry in my trading journal while testing this strategy.
Entry in my trading journal
I open a new page each day and log all the trades with as much detail as possible.
This is very important to get a strategy working on a demo account but maybe even more important when you’re happy it works and start off on a live account. Initial testing on real money can get you much more emotionally involved, so noting down all your reactions and results can be very interesting, and help avoid mistakes taken for emotional reasons.
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Tags: forex, forex robots, manuel trading, online, Other Forex Software, trading
June 20th, 2009 7:31 am
[...] This is very useful for manuel trading and you should use this with the Forex S 2.5 strategy. [...]
June 27th, 2009 6:02 pm
very interesting idea to se stochastic as trend indicator. I’ve tested this strategy on a demo account and it works quite well if you keep a close eye on the charts. It also needs to be used with other trend indicator like RSI or MACD.
April 11th, 2010 6:39 pm
Insightful post, I found this right in time. I’m going to bookmark this for future reseach. Good Day.