[peteuk]

Everyone everywhere asks the same question, what strategy do you use, what time frame, indicator values, stops, targets etc etc etc, expecting that once armed with the settings they will automatically be able to make good trades and truck loads of cash.

Friends, the answer is not in the strategy used, it's in the way you trade. More or less every indicator ever discovered has a varying degree of accuracy but there are no systems or strategies that are always profitable to everyone, one mans meat is another mans poison. Aside from that, any strategy you use will need to be adjusted from trade to trade as the market changes, what worked on one trade may not work on another. Using someone elses strategy without the neccessary knowledge or skill would be like borrowing a chisel from a carpenter and expecting to be able to build a cabinet, you could probably muddle through but it's going to look like shit! On top of that, there are so many other components to what makes a particular strategy work for a particular trader, it's a very personal 'tailor made' thing, everyone is different and we all have different personalities.

Predicting the way a currency will go is only a very small part of trading, in fact it's about the easiest part because you only have 2 choices. Managing your trade is much more important and will dictate whether you succeed in this business or go broke.

Guess what, we're back to discipline again! Whatever strategy you use, from the complicated Elliot Wave analysis to the simple EMA cross, there is only one thing that will make you money in the long run and that is the discipline to control your emotions, trade your plan, cut losses short and let profits run, manage your money, and don't gamble.

I hope that helps, I'm not being secretive, I just don't believe it will help by posting exactly what I use as indicators. If you really can't decide on a system then toss a coin, I'm serious. As long as you manage the trade you'll gain in the long run.

Cheers

Pete