The vast majority of traders fail to achieve their goal.
Everybody seeks the holly grail system something that is perfect and works all the time in every market.
In my modest opinion the holly grail is consistency. It is the trader himself.
It does take time to achieve this kind of consistency and that is why 95% of the people that start out trading loose money and give up.
On this eurusd 5 min chart I try to illustrate how you could go about trading it.
You definitely do not need to place 20+ trades a day to be succesfull.
You need to trade price according to your chart.
And this chart with this system, provided you with five trades for the whole uk and usd session.
No need to overtrade.
If you have troubles in seeing the trades then do not worry and read on.
The purple moving average represents 200 days. This is the trending moving average. We do want to be trading always in direction of the trend.
The blue one represents 55 days the red one 21 days. Here we want to see if price retraces back to them to possibly buy or sell from their location.
The smaller 5 and 8 moving averages are the trigger to enter a trade.
Analyze the chart and see if the information provided makes sense to you and never give up.
Best of PIPS and good luck on your quest to becoming a trader.