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Questions and StoriesCategory: QuestionsWhat Is Your Favorite Trading Strategy?
LuckScout Staff asked 3 months ago

What is your favorite trading strategy?
Chart analysis?
Candlestick patterns?
What indicators do you use?

wealthmap replied 2 months ago

Chart analysis.
Fibonacci
Bolingbrook Bands
RSI

Emmadiego replied 2 months ago

My favorite trading strategy is chat analysis
I use the combination of RSI and MACD as my indicators

Hillary replied 2 months ago

Scalping and day trading. My best chart analysis is RSI and Bollinger band squeeze pattern.

RICHACQ replied 2 months ago

My favorite is Bollinger band and candle stick

GODETA replied 2 months ago

My trading strategy uses a technical anysis approache to take profits from the forex market. I use indicators such as; MACD, Stochastic, Moving averages in combination with particular price action patterns (doji, engulfing & other reversal candlestick formation) to decide entry and well as exit from the trade. I am in and out od the market in minutes or hours, that’s betwenn a scalper and day trader.

These indicators are there in my chart to serve particular purposes which inform my decision to enter, re-enter or exit, namely;

momentum in the market
trend
entry point
sustained momemtum in a trade direction
exit

Vicaris replied 1 month ago

Candlestick price action

GODWIN replied 1 month ago

Yes, I also use candlestick pattern and bollinger

Wisdom replied 1 month ago

Bollingers band, moving average and RSI

Eugenie Ansell replied 1 month ago

Candlesticks , Bollinger bands, scothastic, I’ve started looking at MACD too. I haven’t figured out how to set up moving averageges like 50, 100 or 200 or fibonachi yet, I don’t even know if I can do that on mobile?

16 Answers
Best Answer
Dollargreen answered 2 months ago

My favorite trading strategy is Swing trading. I use MT4. I use candle stick. I use RSI indicator.

steventiau replied 2 months ago

i used combo :  Double Bollinger Bands , 3 level zz semafor and Murrey math time frame. 

gwhite2203 replied 2 months ago

Great to hear about new ideas – 3 level zz semafor – that sounds impressive what is it? never heard of that before

steventiau replied 1 month ago

The 3 Level ZZ Semafor forex indicator for Metatrader 4 is a sort of zigzag indicator.

It looks for high and low prices in the trend and then marks them with 1 (short-term), 2 (medium-term) or 3 (long-term).

Number 3 is the most important Semafor level to keep an eye on.

This indicator can’t be used as a standalone. Instead, use it together with a trend following indicator such as an exponential moving average with period set at 75 or 100.

Trade in the direction of the underlying trend.

The default ZZ Semafor period settings (5, 13, 34) can be changed from the indicator’s inputs tab.

John Weddell answered 2 months ago

Bollinger Band breakout supported with confirmation candlestick assisted by MACD and RSI

Edward Duffy replied 2 months ago

I do not have a favourite strategy at present and at present I am trying to learn how to use Bollinger Bands. I am learning and trying to apply the theory behind using Bollinger Bands.

Gareth White answered 2 months ago

My favourite and most consistent is support and resistance for smaller timeframes and supply and demand for higher timeframes. I sometimes use the bollinger band strategy but haven’t quite mastered it.

Christopher Ebhomien answered 2 months ago

My preferred method is swing trading based on trend analysis. I plot trend lines on 1 month charts and watch the price action within the uptrend or downtrend to be able to take positions. If the price hit the resistance and retraced I take a short position, but if hits the support and and as retraced I take a long position. How where there is a breakout and resistance turned to support, I take a long position. When it is the other way round, support turned resistance, take a short position. It takes a lot of patience.

Steventiau replied 1 month ago

Hi Christopher,
Swing trading is used by many pro trader, now my question is money management. Normally, entry with small time frame , less risky compared to big time frame. stop loss and trailing stop loss. if the trend is strong make bigger profit. if not then need to exits and profit taking. But how to hold for bigger profit and not to stop out if the market is very volatile?

David answered 1 month ago

I normally start off with a bare chart to identify any obvious trends and patterns. Then I\’ll be in a position to recognize any support or resistance levels. If nothing is easily identified or confirmation is needed, then I use Bollinger Bands and the RSI or the MACD. Sometimes I also employ Fibonacci.  

Sele answered 1 month ago

Bollinger bands(squeeze) and RSI up to so far

Nnaemeka Victor answered 1 month ago

Candlestick price action + support & resistance analysis + break and retest

Chin-Jung Chen answered 1 month ago

When I first came into contact with foreign exchange trading, I joined a teacher\’s online course on the Internet. He pursued the Price Action Strategy. Except for the 8/21 EMA as an aid to dynamic S/R, no other indicators were used. For  a beginner, it is too difficult for price action to find trading opportunities. 
now I try my own strategy : multiple time frame price chart, 8/21 EMA, MACD line/Signal Line, RSI(5)

keines replied 1 month ago

double bollinger bands and candlesticks and support and resistance

Azamat answered 1 month ago

Double BB & CandleSticks
 

Vahid Chaychi Staff answered 1 month ago

Candlesticks + Bollinger Bands + Chart Patterns 🙂

Emmanuel Enya answered 4 weeks ago

Chart analysis
Double Bollinger band
 

kenndy4reality answered 2 weeks ago

I preferred candles stick price action .
Support and resistance break out (horizontal and trend lines ). 

Male answered 2 weeks ago

Stop and Take Profit is my best Forex strategy.

Leno Jean Pierre answered 5 days ago

After reading articles on luckScout.com ,I’m trying bollinger bands strategy with stronger trade setup, like bearish engulfing pattern, bullish engulfing, double top etc…

kenndy4reality answered 2 days ago

Candle stick pattern is my favorite trading strategy . 

Ramachandran Suppan replied 1 day ago

Candle stick patterns .

Leno Jean Pierre answered 2 days ago

As a novice trader I used to trade without any specific strategy.reading on luckScout.com showed me Bolliger bands strategy. It seems profitable.

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