Keep It Simple Stupid (KISS)

I was away on a family trip to visit the Borobudur in Indonesia. It is a place I would recommend anytime. Looking at the ancient Buddhist monument gave me enough motivation to visit more Wonders of the World in future. Angkor Wat is next on the agenda.

I have been using all sorts of tools to determine my entry, exit and take profit levels. They worked sometimes and most of the time it was purely a gamble.

Recently I decided to remove Commodity Channel Index, MACD and Stochastics from my chart. I had only the Bollinger Bands, Moving Averages for 20 Days, 50 Days and 200 Days. Mostly my focus was on the candle stick chart. I looked for the daily trend, 60-minute and 15-minute charts. If, say, the trend is downward and the candles are moving upward, I wait for the candles to reverse at normally obvious reversal points like the moving averages or Bollinger Bands. So far I had better luck in my trades.

I also learned that, if, after entering a trade, it moves against you, you must cut loss almost immediately. I would wait for 15 pips. There is no need to wait for the price to hit the stop loss level. If it goes against you, you are obviously wrong!

So, I would employ my KISS method until another proven technique comes along....