In this episode of Truth About FX, Walter talks about trading strategies and the key factors to look at when making your own strategy. What are your goals? What are the thing that you should avoid?

You will also hear about one of the forum’s member, David Franklin, and his unique trading strategy and how this might help you find your edge. All this and more in this episode…

Download (Duration: 03:52 / 4.42 MB)

In This Episode:

00:39 – sounds weird

01:39 – chop down

02:11 – in and out

03:31 – a big mess

04:27 – one bullet

Tweetables:

What is your goal? [Click To Tweet].

Try to avoid trading the lower timeframes  [Click To Tweet].

Take only one bullet.  [Click To Tweet].

Announcer: Sometimes, forex trading is a wild and wooly place to be. That’s why Hugh is here, to post your questions to Walter, the naked forex guy. Hugh’s got questions and Walter’s got the answers. Here at the Truth About FX Podcast.

Hugh: Hi, Walter. I know that you trade on the daily and on a longer term chart but, do you have a favorite day trading or scalping strategies?

Walter: Yeah, that’s interesting that you’ve mentioned this. In the forum, we’re actually going to bring in someone who has — I know it sounds weird but — he’s going to talk about his daily scalping strategy.

It’s weird what he does. I think he closes his trades the next day so it’s like a one candle deal. You take the signal, you take the trade and then, at the end of the day, you basically close your position out.

It’s like scalping because it’s in and out but because it’s the daily chart, it’s weird but that would be interesting. I could probably see about putting a link up to that