If you're not into trading the global financial casino, please skip down to the next article.
I'm looking for advice from any experienced FOREX traders out there. None of the tools I used to make money with daytrading stocks circa 1998-2000 (stochastics, moving averages, moving average crosses, MACD, support/resistance antics, etc., etc.) seem to work. It doesn't appear to be worth it to try to range trade these things. I happened to be watching EUR/USD the other day when that thing had the biggest one day move in something like five years. That move seemed to behave, probably because the thing was clearly trending. Buy the dips, take some PIPs, repeat. But when they settle into consolidation mode, it's not fun.
Ok, here's where I need help: I'm only interested in taking 10 to 15 PIPs at a time on momentum cranks. I'm looking for a tool to help me buy or sell only those moves that get the juice for a few minutes, while avoiding the crappy fake outs and noise, which is most of this market to begin with. All I'm after is 10 to 15 PIPs (net profit) per day on 1 lot deals! It's bum change! That's not too much to ask, right? * chuckle * Any ideas?
So far, I've seen nothing that would get me to trade this thing with real money, but the simulator account is free.
DISCUSS
posted by Kevin at 12:27 AM