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[Oluti]

Hi pip makers, in this Article I am gone an explain one of my simple but effective and my favorite strategy.

I like simple strategy same time hate complicated one because it creates lot of confusion while entering and existing the market so I always prefer to use simple two or three indicators to make any of my strategy and hate to see full of indicators in my trading chart.

I believe myself more than anyone else and always stick to my strategy, if my strategy doesn’t make good profit still I won’t do frog jump without back testing and experiment with 1:1 leverage by documenting all the experimental results.

Why i don't do frog jumps?
I would like to illustrate with an example for more clarity. Let’s Consider a blind man walking on the same road every day, Initially he may get confuse for couple of days but once he became familiar with road he can easily walk on the road without any problem because he have analysed all the objects and its positions in his mind and made the imagination road in his mind so that he can tell where is up and down in the road without seeing. That’s the power of revision so I am applying the same formula here. If we practice the same strategy for a while. We can tell when we have to avoid entering a bad trade.

Before going to my strategy, I would like to explain my strategy sweetness:
1. It can be used as scalping strategy where you need to use lesser time frame in the chart like 5 or 15 minutes.
2. It can use used for intraday strategy where you need to use higher time frame in the chart like 1 or 4 hr chart (Select the pair where there is no major news and normal momentum is required to get good profit using my emotional strategy ).

I am beginner to trading and trying to find out successful strategy like others then started using different indicators, in different manner to reach my destination and did lot of experiments like scientists with different indicators and finally I realized that by doing frog jump I will not find best strategy. Then I am figuring out what is my strengths and weakness so that I can choose the indicators related to my strengths.
My strength is support, resistance, and trend lines. According to my strength I find out the magic Bollinger bands where it has support and resistance line. I am so desperate to know how support or resistance hold, breaks, and do fake breaks. Then I realized that it’s not as easy as I say, overall its emotional market so finally I figure it out the same with RSI indicators and stochastic.

I would like to explain trading setups and tools for this amazing strategy:

1. Bollinger bands
2. Stochastic

Selling scenario:

When the bullish candlestick touches the resistance of Bollinger band and the next candlestick forms a bearish candlestick and in the meanwhile stochastic cross completely from the over brought region (80) then we are going to enter the sell trade. When the stochastic touches over sold(20) area then we have to close the trade.

Buying scenario:

When the bearish candlestick touches the resistance of Bollinger band and next candlestick forms a bullish candlestick, in the meanwhile stochastic cross completely from the oversold region (20), then we are going to enter the buy trade. When the stochastic touches over brought (80) area then we have to close the trade.

It’s very simple to see and this type of scenario will occur so many times but we have to enter very carefully. I recommend to you guys to do some experiment and note down all the results so that you can avoid bad entry with experience.

 

[lioralace]

Trusting myself and sticking to my plan is a crucial lesson I've learned throughout my trading career. I don't make snap decisions or "frog jumps"—that is, I don't switch to a new strategy without doing adequate backtesting and experimentation—even if the strategy doesn't initially produce significant profits. I meticulously record each trade and always use 1:1 leverage when testing. I can avoid rash decisions and gain confidence in the strategy thanks to this methodical approach.

Why refrain from "frog jumps"? Allow me to clarify using a straightforward analogy. Consider a blind man who goes down the same path every day. He may be perplexed at first, but eventually he mentally charts out the turns, slopes, and bumps, allowing him to walk with assurance even in the dark. This ability to repeat
Let's now explore my strategy's sweet spot:

Scalping: To make quick money, use shorter time frames, such as five or fifteen minutes.

Intraday Trading: For consistent momentum, choose pairs without significant news events and use longer time frames, such as one or four hours.

I tried a lot of indicators in different combinations as a novice trader in an attempt to find the ideal setup. I discovered via trial and error that changing tactics too often only makes you frustrated. I chose to concentrate on my strong points, which are trend lines, support, and resistance, and I discovered that Bollinger Bands expertly blend these components. However, because markets are volatile and emotional, I added RSI and stochastic indicators to Bollinger Bands to improve timing.
This is the main component of my approach, which makes use of stochastic oscillator and Bollinger bands:

Setting Up for Selling:

When the upper Bollinger Band (resistance) is touched by a bullish candlestick,

A bearish candlestick comes next.

Additionally, stochastic crosses below the overbought zone (above 80),

Make a sell offer.

When the stochastic reaches the oversold region (below 20), exit the trade.

Purchasing Configuration:

When the lower Bollinger Band (support) is touched by a bearish candlestick,

A bullish candlestick comes next.

Additionally, stochastic crosses upward from the oversold area (below 20).

Make a purchase.

When Stochastic hits the overbought zone (above 80), exit the trade.
This tactic indicates numerous opportunities and is easy to understand on the charts. Don't rush trades just because you see the setup, though; patience and cautious entry are essential. I suggest you try this strategy out for yourself, record all of your trades, and improve your entries and exits over time.

In conclusion, the three main pillars of successful trading are self-confidence, consistency, and simplicity. You can confidently handle the emotional highs and lows of Forex trading by concentrating on a small number of well-understood tools and gradually honing your strategy. Have fun trading and may you always have plenty of pip money!

 

[Professional Writer]

I am quite sure that emotional trading will offer no benefit to anyone. Having said that, there re many people who do not think about this and they tend to allow their emotions to overcome them. As a result of that, they suffer from losses when it comes to trading. Many traders need to understand the importance of controlling their emotions in the right manner. This is quite crucial due to the fact that no matter what kind of indicators you use, if you allow emotions to overcome your intellectual thinking, then you will have a really harder time trading.