The best forex strategy
- Thread starter jJR
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Looking for Forex Strategy!! Here is one…
We have heard many times that forex is difficult, a loosing game etc . But I feel Forex is an interesting game played with intelligence and smartness. Often newbies seek some Forex trading strategy, which is simple and profitable. I am going to share a forex strategy which is not complicated or confusing and anyone who wants to trade can easily use it, the only condition is that it should be executed correctly if you want to double digit of gains with less efforts. Here are some simple steps:
Look at Fundamentals
The very basic place to start analysis is with the fundamental demand and supply situation. This will be helpful to set the your targets for the long term trends that can last for days, months or years .
Set You self Into on The Action
Currencies trend for years we all know that but its getting in on the trends that is the hard part and your aim is to get in and then simply hold the trend. Any currency that is bullish will become overbought at some point and break and when these breaks come you buy them
Use Sentiment tools
Always use these two sentiment tools - Net Traders Positions and % Bullish to check that sentiment is not in over bought territory when you enter the trade. Start with your weekly charts and look for support and time your entry with your daily charts.
Risk - Reward
Don't over do the leverage!
You can get 200:1 but on a trade about 10:1 is fine for a buy and hold strategy. What you are going to do then set a stop and leave the currency alone.
Hopefully it will trend for months and make great gains if you have been careful in your selection.
That's your Forex trading strategy! It's extremely simple but it will make money if executed correctly.
We have heard many times that forex is difficult, a loosing game etc . But I feel Forex is an interesting game played with intelligence and smartness. Often newbies seek some Forex trading strategy, which is simple and profitable. I am going to share a forex strategy which is not complicated or confusing and anyone who wants to trade can easily use it, the only condition is that it should be executed correctly if you want to double digit of gains with less efforts. Here are some simple steps:
Look at Fundamentals
The very basic place to start analysis is with the fundamental demand and supply situation. This will be helpful to set the your targets for the long term trends that can last for days, months or years .
Set You self Into on The Action
Currencies trend for years we all know that but its getting in on the trends that is the hard part and your aim is to get in and then simply hold the trend. Any currency that is bullish will become overbought at some point and break and when these breaks come you buy them
Use Sentiment tools
Always use these two sentiment tools - Net Traders Positions and % Bullish to check that sentiment is not in over bought territory when you enter the trade. Start with your weekly charts and look for support and time your entry with your daily charts.
Risk - Reward
Don't over do the leverage!
You can get 200:1 but on a trade about 10:1 is fine for a buy and hold strategy. What you are going to do then set a stop and leave the currency alone.
Hopefully it will trend for months and make great gains if you have been careful in your selection.
That's your Forex trading strategy! It's extremely simple but it will make money if executed correctly.
hi friends,
for me, trading forex without strategies is like gambling - or ever worse than gambling because there are professional gamblers who use brilliant strategies to make money in casinos.
so, stop thinking that you can make money in forex by shooting in the dark. put up a great series of strategies and apply them.
strategy 1
know your market
strategy 2
learn the language
strategy 3
develop a sound trading strategy
strategy 4
practice
strategy 5
choose the right forex dealer
regards,
for me, trading forex without strategies is like gambling - or ever worse than gambling because there are professional gamblers who use brilliant strategies to make money in casinos.
so, stop thinking that you can make money in forex by shooting in the dark. put up a great series of strategies and apply them.
strategy 1
know your market
strategy 2
learn the language
strategy 3
develop a sound trading strategy
strategy 4
practice
strategy 5
choose the right forex dealer
regards,
Hello Folks,
I`d like to share with you one of my forex trading strategy.
Forex Strategy: Bollinger Bands and Fractals
As a novice trader you see so many trading indicators and systems that you can easily get lost. If you browse the Internet or read some eBooks and guides, you can get buried in information about the Stochastic Oscillator, MACD, Elliot Waves and many more. But wait a minute, is it true, are they all profitable, what are the odds? Do you think that the editors of this department actually use them?
The strategy is very simple; we already know from the Bollinger Bands webpage that when the price closes above the upper band or below the bottom band, then we have a trading signal. This is the first signal. Earlier we said that this is our conservative strategy, so we have to wait for a second trading signal. When the next candlestick closes and a fractal shows above or below the previous one, this is our second trading signal. Basically, if the price closes above the upper band and we see a bearish fractal, we open a sell order and put the stop loss above the last fractal (see image for better illustration). The process is identical, if the price is below the lower band and the fractal is bullish. Our target is the middle Bollinger Bands line and most often we are looking at something around 25 - 30 pips.
I`d like to share with you one of my forex trading strategy.
Forex Strategy: Bollinger Bands and Fractals
As a novice trader you see so many trading indicators and systems that you can easily get lost. If you browse the Internet or read some eBooks and guides, you can get buried in information about the Stochastic Oscillator, MACD, Elliot Waves and many more. But wait a minute, is it true, are they all profitable, what are the odds? Do you think that the editors of this department actually use them?
The strategy is very simple; we already know from the Bollinger Bands webpage that when the price closes above the upper band or below the bottom band, then we have a trading signal. This is the first signal. Earlier we said that this is our conservative strategy, so we have to wait for a second trading signal. When the next candlestick closes and a fractal shows above or below the previous one, this is our second trading signal. Basically, if the price closes above the upper band and we see a bearish fractal, we open a sell order and put the stop loss above the last fractal (see image for better illustration). The process is identical, if the price is below the lower band and the fractal is bullish. Our target is the middle Bollinger Bands line and most often we are looking at something around 25 - 30 pips.
Frankly it does not matter what strategies you follow as long as it is not foolish. The key thing here is discipline with your stop losses. Remember - stop loss levels you set for yourself are holy. Cut your position out if you hit your stop loss. Losses do hurt - but they are a part of trading. Rest should fall in place automatically.
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