Step #5 | Picking Strategy

Depending on the Market’s Condition we currently see on DAILY Time-Frame we pick the appropriate Trading Strategy that goes with it . Below are a few Strategies we can use per Market’s Condition :

#1 Range-Bound Market : when price is moving in a ZIG-ZAG MODE within a Range
1a. Trading the Zig-Zag Daily to H1 TF
1b. Trading the Zig-Zag H4 TF to M15 TF
1c. Bollinger Bands + Stochastics on Daily TF
1d. Bollinger Bands – MACD -PSAR
1e. Bollinger Bands -Heiken Ashi – ADX

#2 Trending Market : when price is moving UP making Higher Highs and Higher Lows or DOWN making Lower Lows and Lower Highs
2a. ICHIMOKU 4 Time-Frames
2b. Bollinger Bands – Fractals – Alligator
2c.“Catching the Bus”
2d. Fibonacci Retracement Tool
2e. Scalping from M15 with ICHIMOKU & BBands
2f. Rainbow System
2g. Trendlines

#3 Consolidating Market : when price is in a stasis moving sideways in a horizontal mode maintaining the same price level
3a. Bottlenecks and Funnels

STEP #5 Rules :
Trading is not about fashion and variety. Which means, you should learn ONE Trading System very well and always look for Market’s Conditions ideal for you to apply it. Don’t look to trade ALL Market’s Conditions, ALL Pairs, ALL the time. Be selective and monotonous. Be deadly boring doing AGAIN AND AGAIN what’s making you pips. Be like a hammer hitting a nail and hit that damn nail NON-STOP! If you want to specialize on trading Breakouts after Consolidation, using for example “Bottlenecks & Funnels”, become a KILLER on “Bottlenecks & Funnels” and trade NOTHING ELSE. By the way, it’s not bad to seek multiple confirmations before you enter with one System, by checking another System too making sure they both agree.
When you’re in , be 1001% confident with your Strategy -1000% is not enough-apply its Criteria and Rules religiously and don’t mess with your Trade. Set it and forget it. (Check it only as often as the Time-Frame you monitor the trade from requires. Remember that candlesticks are valid ONLY when they close. While they’re open, they behave like electrons, being everywhere at the same time.)
Remember that there are no “A’s” in FOREX Trading. It is a SOLO Sport. You are the athlete, the coach and the audience. Don’t pick the sexiest or the most sophisticated Strategy. There is no one to impress. Pick the SIMPLEST ONE that you are extremely familiar with and will stack more money to your Bank Account. And if your personality is more a Bull than a Bear, go only for Long Trades. If on the other hand you are a Bear, well….that’s your problem….hahahaha…

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