Hi,
read the book "Profit Magic of transaction timing"; not fully as it is a bit heavy, but the one concept that is worth a million dollars literally is the concept of displaced moving averages, and this works, try it with long periods, I use 199, 99, 49 displaced by half their periods - all using simple averages. You have to use MTF to guess the direction of the wave next, I start of with the D1 then move down to M5 using stochastic oscillator for confirmation/filter.
You just need to go with the sinusoidal waves and extrapolate. It comes easily with some practice. Try using "vhandstrade" for practice.
I use large stop losses like 100 pips for 10 pips of profit, I know this is not a good approach but I have just started will need to work on this.
read the book "Profit Magic of transaction timing"; not fully as it is a bit heavy, but the one concept that is worth a million dollars literally is the concept of displaced moving averages, and this works, try it with long periods, I use 199, 99, 49 displaced by half their periods - all using simple averages. You have to use MTF to guess the direction of the wave next, I start of with the D1 then move down to M5 using stochastic oscillator for confirmation/filter.
You just need to go with the sinusoidal waves and extrapolate. It comes easily with some practice. Try using "vhandstrade" for practice.
I use large stop losses like 100 pips for 10 pips of profit, I know this is not a good approach but I have just started will need to work on this.
It is toooo eazee