This is the trickiest section of all… don’t crucify me, I’d really appreciate constructive criticism here.
Based on the books that I’ve read, the 90-something percent of traders who fail do so mainly due to their trading psychology.
These books advocate the ‘keep it simple, stupid’ (K.I.S.S) rule – apparently it works best, and admittedly, it’s easy to implement/understand, so it’s what I’ll utilize to start with.
I’m not going to put my exact trading style here (because everyone wants to know the secrets of a novice J) but you get the idea.
My general trading concepts:
- Short term MMA(or is this EMA???) crossovers
- Long term EMA to establish the trend
- An oscillator to ensure that the market is not extended
- Volume levels
- Support and resistance levels
So what do you think?
It’s pretty basic, but it’ll do until I improve my knowledge.
Feel free to post comments/suggestions here on how to improve my strategy (but K.I.S.S).