Here we are going to give you three of the best Forex trading strategies which are simple to learn, easy to apply and make big gains - Let's take a look at them in more detail.
The way you apply these strategies can be very simple - all you need to do is learn basic chart patterns and add two or three indicators to confirm your trading signals and your all set.
1. Forex Trend Following
Today, trend following has gone out of fashion with novice traders because they think they win trading the market noise so they scalp or day trade and lose. The savvy trader trades less, makes more money and spends less time on his trading by locking into the big trends that last for weeks or longer.
The big trends are there on any chart and the reason currencies trend long term is the economic cycle that is reflected in a currency, lasts a long time and that will never change. If you want get into all the big bullish trends focus on the way they all start and continue and that's by breaking to new highs. It's a timeless simple way to make money and I have written on the subject of breakouts frequently, so check out this method in more detail.
2. Forex Swing Trading
This requires less discipline than trend following making it ideal for novice traders and its based on the fact that all short term price spikes are caused by emotion pushing the price to far to fast, prices soon return to fair value and the swing trader hits overbought and oversold levels and trades into them.
Swing trading involves looking for a price spike up or down and isolating an area of support and resistance and then waiting for momentum to turn and the level to hold and then he enters his swing trading signal. The swing trader then enters his trading signal and takes his profit quickly; a typical swing trade lasts around 2 days to a week.
Keep Your Method Simple
Simple strategies work better than complex ones and trend lines and a few indicator, are all you need to win, make a strategy to complex and it will have to many elements to break. In Forex there is no way to beat the market with science so don't look for the hidden order of the market - there isn't one. In Forex you are trading the odds and if you trade them correctly, by running your profits and cutting your losses you can make big profits, in about 30 minutes a day - good luck!
For the very Best in Forex strategy and money making, I HIGHLY recommend checking out http://www.unclesamsforex.com
The way you apply these strategies can be very simple - all you need to do is learn basic chart patterns and add two or three indicators to confirm your trading signals and your all set.
1. Forex Trend Following
Today, trend following has gone out of fashion with novice traders because they think they win trading the market noise so they scalp or day trade and lose. The savvy trader trades less, makes more money and spends less time on his trading by locking into the big trends that last for weeks or longer.
The big trends are there on any chart and the reason currencies trend long term is the economic cycle that is reflected in a currency, lasts a long time and that will never change. If you want get into all the big bullish trends focus on the way they all start and continue and that's by breaking to new highs. It's a timeless simple way to make money and I have written on the subject of breakouts frequently, so check out this method in more detail.
2. Forex Swing Trading
This requires less discipline than trend following making it ideal for novice traders and its based on the fact that all short term price spikes are caused by emotion pushing the price to far to fast, prices soon return to fair value and the swing trader hits overbought and oversold levels and trades into them.
Swing trading involves looking for a price spike up or down and isolating an area of support and resistance and then waiting for momentum to turn and the level to hold and then he enters his swing trading signal. The swing trader then enters his trading signal and takes his profit quickly; a typical swing trade lasts around 2 days to a week.
Keep Your Method Simple
Simple strategies work better than complex ones and trend lines and a few indicator, are all you need to win, make a strategy to complex and it will have to many elements to break. In Forex there is no way to beat the market with science so don't look for the hidden order of the market - there isn't one. In Forex you are trading the odds and if you trade them correctly, by running your profits and cutting your losses you can make big profits, in about 30 minutes a day - good luck!
For the very Best in Forex strategy and money making, I HIGHLY recommend checking out http://www.unclesamsforex.com
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