After being burned the last few months, and reading how to find a good strategy, it has finally become crystal clear how to really succeed in this market: SET IT AND FORGET IT.
By using the proper money management, stop losses, and having patience, your profits will far outweigh any losses. Find a good ranging pair (USD/JPY) and you have it made. Enter and exit at or near the 00 or 50 levels. Price always return to those levels. Take a look at USD/JPY for the month of March. If you only traded the 117.00-118.00 range you could have scooped up a good number of pips. Just don't use too much leverage (as I have been guilty of). When a breakout of the old range occurs, just wait for the new range to emerge.
The scales have been removed......
By using the proper money management, stop losses, and having patience, your profits will far outweigh any losses. Find a good ranging pair (USD/JPY) and you have it made. Enter and exit at or near the 00 or 50 levels. Price always return to those levels. Take a look at USD/JPY for the month of March. If you only traded the 117.00-118.00 range you could have scooped up a good number of pips. Just don't use too much leverage (as I have been guilty of). When a breakout of the old range occurs, just wait for the new range to emerge.
The scales have been removed......