I'm almost embarrassed to divulge my strat...in fact I am...lol
1st off I need begin with a few disclosures....
1) I consider myself a Newbie to 4x & after reading this I'm sure it will be quite easy to tell....lol
I've really only been doing this for approx 7 mos...but having respectable results as my return has improved over each month.
2) I know very lil t/a...the very basic of the basics...& that's on a good day...thus
3) I have only been demo'ing....sadly...cuz over 7 mos now I'd be up approx 20-35% per month....& that's is a conservative figure..the last 2 mos I've realized 190% & 75% +/-...the months prior I was closer to a more realistic long term 15-20% per month.
OK..having said all that this is all I really do....
I look at the 1,5,15 & sometimes the 30 min chart.....if they all look ripe for the picking as in overbought or oversold for those time frames I take the plunge. But before taking a position I do look at the very short term ticks...5,10 & 30 seconds....once those begin to tick my direction I enter the trade.
Over the last few months (up until maybe a few weeks ago) I have been primarily using one overall strat which is to look for short dollar trades w/in a few pairs only...primarily vs the chf, aud & cad. I've also been lookin for long gold trades as well.
Of course once a trend begins to show true signs of a long term reversal then my trades will become harder & harder to spot....which would then of course tell me to adjust this strat & maybe begin to go the other way...as in looking for long usd trades & short gold. As of late however this genl short greenback strat has gotten a lil more difficult as the dollar has found some support here. I must admit tho that I don't necessarily go short vs the dollar 100% of the time....if it seems to be getting oversold...especially down past the 30 min chart I have been known to go long....but if so, I set tighter stops & profit points.
I do of course watch the Dow & gold for genl mrkt conditions as well....tho one things for sure....over the last few months, what we once knew as fundamental trading theory's (ie old school) has changed a bit...for example...when gold goes up the dollar goes down....or the dow up & gold down....not so much anymore. As we're now seeing, gold continues to rise even as the dollar has seemingly begun to find its' lows & has been appreciating over the last few weeks. In fact gold has gone bananas since busting thru 800 & now knocking on the door of 900...& in such a short time frame ta boot all the while the dollar has gotten a bit stronger. Man alive this must be giving the old schooler's fits.
So from where I sit...the mrkt seems to be evolving away from the position of the greenback being BMOC. Some say that gold is now the new currency benchmark & has been for quite awhile now (which I tend to agree with)...it's just that nobody really wants to admit it...especially the govt for if they did, they'd be admitting a econ policy failure of sorts.
I realize this all sounds quite simplistic (other than the old school comment of course that's been quite the challenge) but for 7 months now I keep waiting for the law of averages to catch up to me & it has yet to do so.
Is trading 4x really this simple? All I can say is, try not to cloud your mind thinking too much about too many t/a strats. Sure a few broad & basic t/a principals surely can't hurt (I'm doing my best to learn MACD & Fibs & a select few others)...but the more info you decide to trade with, the more confusing & inconclusive results you will tend to ...thus your returns may not be very consistent. Just remain conservative & never get too greedy....& be sure to take losses when needed...dont EVER let'em run past your risk/reward level of comfort. I've learned far more from the few losses I've taken than all of my demo gains combined.
As for me, I'm lookin forward to finally goin live w/a very conservative strat & bank roll later on this yr...maybe over the summer when I have much more time to follow along.
OK...that's this Newbie's 2 pennies worth anyways....which in US currency is now worth about 1.55 cents these days...lol.
BOLTA....& as always thx a kazillion to AtaGlance for all he's done for this community & continues to do. I've learned a wealth of info since being a reg here & much of it is thx to him.
Cheers!!
