Re: What strategy should a newbie use?
by spike ยป Sun Feb 28, 2010 11:35 am
Sam Seiden of Online Trading Academy, and former employee of the Chicago Mercantile Exchange, gave me a great strategy that I have used for a couple of years with 50% success. It involves using a 50 period ema to determine trend and a stochastic to determine entry points. I have used this strategy on stocks and Forex in multiple time frames. It's very consistent, but it does give up more losers when the trend is changing. Not to worry, you can tweak for that situation.
I speak more about the strategy and the concept in my latest podcast.
Right Click the link below and Save AS to download podcast!
http://media.libsyn.com/media/rkassulker/sosTraders_002.mp3If you want to see sam describe it directly, go to:
http://transcripts.fxstreet.com/2008/02/using-cci-and-s.html