After what appeared to be my satisfying setup of charts, I now have it all minimized to practically not relying on any indicators and only information that all buyers should have access to. Basically, I'm just looking for strong support and resistance areas while looking for strong candlestick formations to clue on a higher probability trade.
The tools I have before myself really cut down on having to do all these calculations and a lot of time. It's like I could be a little more lazier. There's only a few things I have left to do which is looking for tops and bottoms formation, checking up on the expected news, a possible candlestick to reinterpret, and then pulling the trigger of entering a trade.
I really have just two currencies I feel comfortable working with right now because I feel they both represent the whole Forex market the best. I have a London open pair and an Asian open pair that I trade with because they are both independent from affecting each other most of the time, so it makes sense to work with them. By trading multiple pairs that sort of affect each other also, it could result in a bigger loss which is what I don't want. I would rather be patient and gun for steady and consistent profit on a daily basis. I don't really want to be at the computer all day and just looking for making the most bang for a buck. I would rather set and go with a decent trailing stop that represents a 1:1 risk reward. It's still on trial and error but I like what I'm doing more and it actually makes a lot more sense to me.
