How Many of You Trade Forex Using EOD (End of Day) Approach?
How many of you trade Forex using EOD (End of day) approach? Daily charts and up. What strategy works best for you? Would like to hear your input.
I think your answer is here:
I use the luckscout every now and again when a trade setup presents itself – fairly consistent results
Yes,I follow the closing day candlestick, to see any change of market from either buyers or sellers and see who has taken the day ,the winner.
I used to trade daily candlestick .After reading many articles I realized that higher time frames is more profitable for me due to the lack of knowledge and time, So I quit daily trading.
If I’m to trade in currency markets, I would not trade E.O.D, neither would I advise anyone to use it. I understand it’s easier to make a loss while trading E.O.D than taking a position that has formed after a long time like monthly. But I’m just started learning currency trading of recent and I’m yet to start trading.
I’ve never used E.O.D and I won’t be using it anytime soon despite claims that it’s easy and profitable.
Quite right David – only use a system that is right for you. you have to believe in it otherwise you will question all of your trades and close positions early etc.
I AM PRACTICING THE USE OF DAILY CHART, HOPING TO ACHIEVE MASTERY.
Trading forex using EOD approach can be profitable if you understand how it works, I have tried if several times but unfortunately I couldn’t make any profit so I quit it.