Alternative Setups and Trading Strategies

This book is designed to provide traders new to forex knowledge that helps shape
trades. This knowledge includes fundamentals, charting analysis, technical indicators,
and market psychology—to name just a few. The act of trading becomes
the application of these areas of knowledge with the forex trading mixing-and-matching
techniques and tactics. The setups used will vary along with the trader.
Charting companies such as eSignal, VisualCharts, TradeSignal, and Prorealtime are
examples of current excellent forex chart providers. These providers often offer many
indicators, including some that may not be relevant to forex trading. For example, indicators
that show volume cannot be used for spot forex. Some companies include experimental
indicators that are developed by traders but have not been proven. This chapter
examines alternative setups and compares them with traditional setups that use more
common indicators. Which is better? That will depend on the skills of the trader. Forex
trading success is not a process of instant creation but a process of evolution. You should
try different setups and determine which mix is best for you.




By ABE COFNAS