80 Trading stategies for forex

I got this off Peter Bains site. It's more geared towards the beginner, so enjoy and maybe you might learn a thing or two! Enjoy. checklist below that the big dogs use. You'll be glad you did. Please pick up on the fact that you only need four tools to trade the forex with, using my approach – "reading bars," MACD divergence, pivot points, and trendline analysis. That's it. Nothing more! Plain and simple. Don't let the naysayers have you believe otherwise. The world is full of "Doubting Thomases" who are everybody's armchair quarterback, but have never made a dime in this business. They "sell shovels." They don't use them. Please pour over the 80 currency trading strategy items on the Traders Software Find Software that ill improve your skills.

Currency Trading Strategy Number One :
When you are just starting out, strive to carve out 20 pips per session, and that’s it. Then, turn it off, and study some more. When you get eally good at it, you can then “graduate” to higher returns. So, set your goal at 20 pips and stick to it, until you are a grand master at this wonderful “business” called forex trading. I stress the word business. This is not a game, especially where your “hard-earned money” is involved.

Currency Trading Strategy Number Two :
Spend most of your time on the 15-min chart.

Currency Trading Strategy Number Three :
When you first start out in any particular session, look at the 1 hr chart to get an overall perspective on trend from one session to the next, and what it’s likely shaping up to be at the beginning of the upcoming new session.

Currency Trading Strategy Number Four :
Only look at the 5 min chart if you absolutely have to see what’s behind the current 15 min bar – especially where the bar is elongated, and may have just penetrated a pivot point; in other words, is price reversing course on the 5 min chart, which would obviously not yet be reflected on the 15 min chart?

Currency Trading Strategy Number Five :
Don’t dwell on the 5 min chart, as it contains a lot of “noise” that will whipsaw you to death.

Currency Trading Strategy Number Six :
MACD rules on the 15 min chart. Even if MACD is, say, trending up on the 1 hr chart, if it is trending down on the 15 min chart, that’s what you take your cue from. That’s not to say a shift in price direction is not in the works. It just means it’s coming, but not yet. In the meantime, you don’t want to miss what’s happening “in the now,” which is what is reflected in the 15 min chart.

Currency Trading Strategy Number Seven :
If MACD is trending down on the 15 min chart, and price is wanting to go north, price will sooner than later head south as it perhaps bounces off a pivot point, or gets turned around at a juncture caught by one of the other three “tools” you should be using (“reading bars,” MACD divergence, or trendline analysis). Same thing if MACD is trending up, and price is trying to head south.

Currency Trading Strategy Number Eight :
Only use MACD for divergence, not for buy or sell signals. It is a lagging indicator, and as such is useless as a trigger. It is too slow for that in the forex world.

Currency Trading Strategy Number Nine :
Again, MACD divergence on the 15 min chart is more significant than what you see on the 1 hr chart in the near-term. For those of you who don’t understand what divergence means, keep looking at my own personal forex trading examples on this page on a daily basis for examples of divergence. Basically, what it means is where you see MACD waves “waving” in the opposite direction to price action. That’s why I connect the top of the waves (in a downtrend) and the bottom of the waves (in an uptrend) to illustrate that the waves are “waving” higher in an uptrend and lower in a downtrend – in the opposite direction to where price is going.

Currency Trading Strategy Number 10 :
Always “protect” your money by using 20-30 pip stops. Mental stops are okay, but not if you are dead serious about using a “disciplined” approach to managing your money. You will lose three out of ten trades. The three losses should be kept to 20-30 pips. Your wins will by far surpass your small losses, and that’s what stop-losses are all about. Don’t be afraid to lose. Even professional batters strike out six out of 10 times. Lions are only successful 20% of the time in their chase for the kill. Professional golfers lose 95% of the time. Professional poker players lose 50% of the time. So, your chances are better at trading the forex, using my system of course, than in any other venue. Even businesses have “bad inventory.” And, life in general is not always “100%” for sure.