What is the BEST STRATEGY FOR GBP/USD AND EUR/USD PAIR

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What is the BEST STRATEGY FOR GBP/USD AND EUR/USD PAIR

Postby babatunde_od » Sat Jan 30, 2010 11:18 am

HI EDWARD,

I GUESS I'M VERY LUCKY TO HAVE COME ACROSS THIS WEBSITE, NICE 1 BRO! I'M A NEWBIE CONCENTRATING ON GBP/USD AND EUR/USD PAIR AT THE MOMENT, MY QUESTION ARE
1. WHAT IS/ARE THE BEST TRADING STRATEGIES FOR THIS PAIRS?
2. WHAT INDICATORS WOULD YOU SUGGEST USING FOR THIS PAIRS, AS I AM WELL AWARE OF THE FACT THAT TOO MANY COOKS SPOIL THE FOOD!
3. I AM TRYING TO SET UP MY EMA: I HAVE THE FOLLOWING OPTIONS, PLEASE HOW DO I CHOOSE THE RIGHT ONE. ANYWHERE YOU SEE THE SIGN ? MEANS I NEED AN ANSWER FOR THAT.

CHOOSING EMA:
PERIOD: I CHOSE EITHER 10, 15,OR 50
SHIFT: ? (WHAT DO I CHOSE FOR THIS OPTION)
MA METHOD: EXPONENTIAL
APPLY TO: ? (WHAT DO I CHOSE FOR THIS OPTION) OPTIONS INCLUDE : CLOSE, OPEN, HIGH, LOW, MEDIAN PRICE, TYPICAL PRICE, WEIGHTED CLOSE.

EDWARD CAN YOU ANSWER THIS THREE QUESTIONS PLEASE? I WILL APPRECIATE IF YOU SEND ME A REPLY TO : [email protected]

I WANT TO SAY I AM NOT AGAINST POSTING MY QUESTION, I JUST WANT TO MAKE SURE I GET A PERSONAL FEEDBACK FROM YOU AS I AINT REGULAR ON THIS FORUM. THANX

babatunde_od!
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Why not shout a little louder!!

Postby whipcrack » Sat Jan 30, 2010 11:41 am

Apart from shouting, do you really think you need to post the same question 3 times in different sections/threads of the forum??

I'm pretty sure he'd be able to spot it the 1st time you posted it, don't you? :roll:
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Re: What is the BEST STRATEGY FOR GBP/USD AND EUR/USD PAIR

Postby Edward Revy » Tue Feb 09, 2010 9:22 pm

Hi babatunde_od,

you'd better become a regular guest on this forum, otherwise not many traders will be inspired to answer your questions... :|

1. GBPUSD and EURUSD are the two most traded currency pairs, therefore I can confidently say that almost any strategy will fit this pair, with the exception of some time-based breakout methods and carry trading.
Again, it could be any strategy, your job is to define proper stops and profit targets for each method you'll use.
As an example, take a look at the principles used in the following strategy:
http://forex-strategies-revealed.com/si ... aily-range
You can trade multiple pairs with it, but the Profits and Stops will vary depending on the character and capabilities of each pair, if I can say so, namely - the daily range.

2. Again, you can trade without any indicators (as with the above mentioned strategy) or, for example, with this one:
http://forex-strategies-revealed.com/ad ... ight-setup
or you can use any indicator you feel confident about, for example, it could be any of the indicators presented in the MT4 systems section:
http://forex-strategies-revealed.com/mt ... rs-systems

3. Standard parameters for majority of Moving averages used in the systems are:
Period: you input the number you need, for example, when it says "20 EMA", you set Period = 20.
Shift: is used to shift the indicator in time - you don't need to change it, leave it at 0.
MA Method: Exponential - to get EMA, Simple - to get SMA, Linear Weighted - to get WMA.
Apply to: Close every time, unless indicated otherwise in the strategy rules.

Regards,
Edward
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Re: What is the BEST STRATEGY FOR GBP/USD AND EUR/USD PAIR

Postby jlarson0000 » Thu Mar 18, 2010 3:50 pm

I use his Completed strategy #4 Trend trading with EMA's. It works great. Just make sure you have great money management. Try not to lose more than 2-5% of your account on a bad trade. This lets me win only 60-70% and still be successful.
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Re: What is the BEST STRATEGY FOR GBP/USD AND EUR/USD PAIR

Postby jlarson0000 » Thu Mar 18, 2010 4:10 pm

Sorry meant to say...Complex trading system #4 (Trend trading with EMAs)
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