Using Forex I am liking the technical analysis, initially the system I am using relies heavily on my entry point to determine profit. Smooth Moving Average is weighted more than the Exponential Moving Average but I do use both. I am not looking for quick in and quick out, I started a position on Friday (bad move, will stick to monday-thursday) and had I wanted to get out quickly I would have taken a loss, but with a little patience I hit my limit order last night for a decent gain.
Bollinger Bands I am using to determine the direction of which things are going, with patience it is a nice tool to use where things are going in the short term. And finally stochastic momentum index to determine where the market is at the moment. These three things I am using currently at my infantile stage to learn and go forward. I wanted to start with a basis then move into a more in depth analysis. I plan to stay away from markets that are expecting big news, and limit orders are placed at a certain gain so I do not plan on hitting it big on one position.. this is an ongoing process. Simple and gradual.




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