Think you are the master of discipline? Here's your potential way to make it big trading!
Extremely straight forward is this RSI 14 , 30 minute chart strategy. When RSI goes to around 70+ it's time to short and aim for 10-15 pip When RSI goes to around 30 and below , it's time to long and aim for 10-15 pip.
You can place your SL with 10 pip lower/higher and your TP with 15 pip higher/lower.
Money management is critical and discipline is critical. You are not to aim for bigger profit, further SL, trade when RSI is not overbought/oversold and so on. Money management should be almost minimal lot size with every trade like this you take. Split it with 4-5 currencies and you have yourself a strategy to follow and test.
Good luck!
---------------------------------------------------------------------------------------------------------------------- If you found my idea useful, please like and follow! It would mean a lot to me. Thank you so much for listening and let me know what I can do to help , with questions/comments on the post. Obviously I am not a financial advisor and I encourage you to do your own research and be cautious when day trading! ----------------------------------------------------------------------------------------------------------------------
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Did you guys try this strategy? If so, let me know in the comments how it worked :)
@MAKH83, It's my pleasure! All I'm looking for is to be helpful, so ask away anything that interests you
niilucky
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can you use same strategy on metals ie gold or nasdaq .thanks
Exactus
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@niilucky, Yes you can - for Gold keep your TP/SL tight at $2-$3 max and Nasdaq can do 80-120 points. If you see you are missing a couple trades wait for more extreme overbought/oversold positions like 80/85 or 20/25 on the RSI 14.
KlejdiCuni
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Very detailed overview. Thanks
Exactus
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@KlejdiCuni, Thanks! Will be posting more strategies in the coming days