Techniques

My trading approach derived from HectorTrader technique. It's the base of how I speculate the market move. Yes, trend-trading. I lost a lot of money trying to gauge the market reversal so I can't give a great deal for the losses I would have with the top of bull trend and the bottom of the bear trend. I greatly found myself lucky to found Hector's Trading Blog, I learn the basics at Babypips and information from internet but watching Hector trade is where I understand the informations.

I found trend trading is simple but the effects that it can have on you is huge and it teaches that "patience really is a virtue".

The gems is :

"The Trend Is Your Friend Until It Reversed And Become Your Friend Again."

For the course and how to trade this techniques in details you may consult Hector at HectorTrader.com, he even teaches the first chapter for free and video updates on every trades that he took(yes, including his losing trades). With his disciplined in his technique he manage to keep his losing trade minimal and its a skill that amateurs lack of.

I here gives the description of the techniques briefly so as we can understand each other.

Identify The Trend

3 simple moving average

1. 30 SMA - Green Colour
2. 50 SMA - Red Colour
3. 100 SMA - Blue Colour
   

For a healthy trend, I would conclude the trend is healthy as these 3 sma is parallel to each other moving in one direction. The catch is to identify support or resistance level within this trend and trade the breakout to the direction of the trend.

Simple isn't it, more like naked trading for me.

I used to implement pivot level monthly, weekly, daily but after a while I found it more confusing to me. I know that a lot of trader excelled with it, but I found it blocking a lot of my trade plan so I'll just keep it off my chart.

Price Pattern

Price pattern plays important role for me, I personally loves to see triangle pattern on my chart everyday. It's been in trading for ages and Dan E. Zanger used price patterns to a remarkable extend so playing with it is like having a sense of proven techniques.

Time Frame

As Hector always mention it. There should be a time-frame that based the trade on. With this time frame, comes the expectation of how long this trade should be open. On what time frame to look for the entry and so on. Favorite time frame to base my trade on is the 4H time frame and Daily time frame.

Entry And Exit

This topics is covered deeply in Hector's Forex Trading Course.

Calm and be ready to lose money are also mandatory.