The simplest forex strategy
This trading option is truly the simplest Forex strategy, since anyone can use it.
If you follow the recommendations exactly, it allows you to get a good profit from a relatively small deposit.
Its use does not require special knowledge, so it is suitable for a trader with any level of knowledge.A
The application is based on the use of visual analysis of the current situation on the market; all you need to do is carefully study the chart of the selected currency pair and correctly calculate the transaction volume.
Installation of additional indicators is carried out only at your request, and is not a prerequisite.
stop loss and take profit - will depend on this indicator .
How to apply a simple forex trading strategy
1. Trading instrument – we select a trading instrument on which the direction of the trend is currently clearly monitored, and there are clearly defined candles.
2. Volume - it is advisable to maintain such a ratio of the size of the open position to the deposit, at which you are guaranteed to be able to withstand a correction in your time period.
For example, if the maximum correction value is about 200 points, then the maximum transaction size for a deposit of $100 should not exceed 0.1 of a standard Forex lot.
Only in this case will you completely protect yourself from possible troubles.
3. Entering the market - we carry out this only if the price over the last few hours has formed a clear price corridor, the support and resistance lines of which show the main direction of the trend.
4. Setting stop loss with - usually in the price corridor it is clearly visible where to place safety orders, so we place the order a maximum of 150-200 points below the opening price, taking into account the fact that you have chosen the entry point correctly. Or better yet, outside the channel, in our case below the support line.
5. Take profit - will depend on how dynamically the trend is moving. If you are confident in the continuation of the existing trend and the price is moving quite quickly, then we set the installation at a level of at least 200-300 points, but we focus on the opposite border of the channel. After the position begins to make a profit, you can replace the take profit with trailing .
In order for the simplest strategy for Forex to also be effective, we use technical indicators of trend and channels; this step will allow us to make all the necessary constructions in a fully automatic mode.
You will find a slightly different option for trading in the price channel in the article - http://time-forex.com/terminy/price-channel , it is also suitable for a trader of any skill level.
Read a new article on this topic here - http://time-forex.com/strategy/prostye-strategii-primenyaemye-na-foreks