The 200 day SMA [simple moving average] will always be one of my favourite indicators not on because of its amazing effectiveness but also because it was one of the first indicators I was introduced to. But is it effective as a standalone trading indicator? If you haven’t read my free ebook I emphasize in that that you can clearly identify trends using it and then trade the commotion above the line to gain more points. But you most certainly can just use that single indicator effectively if you have identified a strong trending position. Also you can use your 200 SMA as a stop loss. Have a look at these charts beneath.
The only down side is that using a single SMA you will encounter more false signals than if using a more in depth strategy, but this is the most basic and simple of strategies.
So as you can see you are kept in the trade until the 200 SMA is crossed, you can then either reverse your trade or wait until the trend resumes.
My updated eBook
As I have mentioned, I’m updating my original 10 x 20 guide with some basic trading psychology, banking plans and also a binary system. I was hoping to have it done this week but there is no way I can get it finished but will have it done by next week.
A Real life Binary trader…
When my partner and I went to Vince’s seminar we met a guy there that was heavily into trading binary options alongside his spread trading, it was very interesting chatting away with him and I was fascinated at the profits he was making [regularly £1000 + a day]
We have stayed in touch with him since then and he recently called me to tell me about his new system he has written and if I was interested in offering it to my readers? I said I’d love to review and get back to him. After reading his guide I’m I no doubt he can personally help you make regular daily profits from fixed odds financials. Also it is so refreshing to know that he’s in the UK and totally genuine, and does this day in day out and has proof of his winnings that he shares with you [fixed odds are not regulated like financial trading and spread betting] in a way very similar to Vince…
My lucky readers are going to be the very first to have access to this guide and seriously there are only 100 copies ever going to be sold so once they’re gone that’s it.
Another big factor to this guide is that you can start trading with minimal investment, like a couple of hundred quid will do and you can trade most hours as most of the trading is FX. I’ll get back to you once the package is finalized which should also be next week.
Business start-up show
I’m going to the business start-up show on Friday, Vince is talking there at 2pm but there is also a host of other speakers I want to hear and opportunity’s I want to look at, surprisingly it’s totally free so if interested you can get your tickets here.