My Unique Forex Trading Strategy Which I Use To Make Money On A Daily Basis
My trading strategy is a "tested and proven" trading strategy which i use analyze forex and make money on a daily basis.
My trading strategy is an intra day trading strategy which is used to look out for good trading opportunities.
Apart from my wealth of experience and vast knowledge of forex market, I use a number of indicators to determine the direction of the market and also to generate and filter my signals so as to keep me out of the market when it not safe and an 80% probability of making a kill on every signal generated.
I use a number of indicators to calculate a number of market parameters like over bought and over sold level, moving average, average directional index, relative strength index, the market price level with respect to the Fibonacci lines, resistance and support,....... and i go for a buy when all indicators say buy on higher time frames (which are 1week, 1day and 4hours) down to the least time frame, which is the 1min. time frame and i go for a sell when all my indicators say sell on higher time frames down to the least time frame
Now, i don't just jump into a trade like that at any time because all the indicators says buy or sell as the case may be.
At the beginning of my trading, day the first thing i do is to analyze the economic indicators (fundamental analysis) to see if there will be a high impact news scheduled to be released for that day which is liable to affect the market (if there is, i wait till after the effect of the news). Then i look at the higher time frames of the major pairs (i love trading pairs with low spread) to determine the trend direction of the market (that is if all the higher time frames indicates same direction), then i wait for the trading section of the pair, (say USD/JPY i wait for USD section to start). As soon as the section starts, i trade only pairs whose lower time frames to indicate the same direction as the higher time frames ( that is for pairs that have at least the daily and 4hours time frames indicating the same direction). But before i finally place an order i check the market price level for the pair with respect to Fibonacci lines to look for safe entry level on the 1min. time frame ie. after a 1min time frame retracement.
When i was still a beginner, i would open a buy and sell position on all the the major pairs (thats on a demo account) and as soon as we the USD section starts, i start watching for which of the trades will run into profit in the first few minutes to 30minutes to 1hours into the section. Then i enter the same position on that pair on my live account
For every trade i place during any section, i take profit between three and four into the section.
For my stop loss, i use a 25-30 pips stop loss.
Note: when trading with this strategy, stay away from pairs that are the ranging for that period
This strategy works for me very well and i use it to make consistent kills in the forex market.
Just as this strategy works for me, i know it will work for you.
In case of any question feel free to contact me with your question via the comment form on completeforexanalysis.blogspot.com and i will give you the answer to your question in my next write post.
COMPLETE FOREX ANALYSIS... Analyzing forex... making you a successful trader.
My trading strategy is an intra day trading strategy which is used to look out for good trading opportunities.
Apart from my wealth of experience and vast knowledge of forex market, I use a number of indicators to determine the direction of the market and also to generate and filter my signals so as to keep me out of the market when it not safe and an 80% probability of making a kill on every signal generated.
I use a number of indicators to calculate a number of market parameters like over bought and over sold level, moving average, average directional index, relative strength index, the market price level with respect to the Fibonacci lines, resistance and support,....... and i go for a buy when all indicators say buy on higher time frames (which are 1week, 1day and 4hours) down to the least time frame, which is the 1min. time frame and i go for a sell when all my indicators say sell on higher time frames down to the least time frame
Now, i don't just jump into a trade like that at any time because all the indicators says buy or sell as the case may be.
At the beginning of my trading, day the first thing i do is to analyze the economic indicators (fundamental analysis) to see if there will be a high impact news scheduled to be released for that day which is liable to affect the market (if there is, i wait till after the effect of the news). Then i look at the higher time frames of the major pairs (i love trading pairs with low spread) to determine the trend direction of the market (that is if all the higher time frames indicates same direction), then i wait for the trading section of the pair, (say USD/JPY i wait for USD section to start). As soon as the section starts, i trade only pairs whose lower time frames to indicate the same direction as the higher time frames ( that is for pairs that have at least the daily and 4hours time frames indicating the same direction). But before i finally place an order i check the market price level for the pair with respect to Fibonacci lines to look for safe entry level on the 1min. time frame ie. after a 1min time frame retracement.
When i was still a beginner, i would open a buy and sell position on all the the major pairs (thats on a demo account) and as soon as we the USD section starts, i start watching for which of the trades will run into profit in the first few minutes to 30minutes to 1hours into the section. Then i enter the same position on that pair on my live account
For every trade i place during any section, i take profit between three and four into the section.
For my stop loss, i use a 25-30 pips stop loss.
Note: when trading with this strategy, stay away from pairs that are the ranging for that period
This strategy works for me very well and i use it to make consistent kills in the forex market.
Just as this strategy works for me, i know it will work for you.
In case of any question feel free to contact me with your question via the comment form on completeforexanalysis.blogspot.com and i will give you the answer to your question in my next write post.
COMPLETE FOREX ANALYSIS... Analyzing forex... making you a successful trader.
