This is going to be short and simple. The best system is the simplest. Take any of your best indicators, apply them to daily chart. Look for the trend.
Take the same indicators apply them to hourly chart. Based on the daily trend look for entry.
If the daily chart is saying uptrend, use your hourly chart to find long position only. If the daily chart is saying downtrend, use your hourly chart to find short position only.
If the daily chart is saying uptrend and u have a short signal from your hourly chart, you can close your position and take another position when the hourly chart is giving the same signal as the daily chart and vice versa.
Remember forex is not about how smart you are. Its about discipline and money management.
How To Trade The Trend
Monday, May 7, 2007
