Simple strategies used in Forex
Stock trading has always been positioned as something complex, something that seasoned professionals with Harvard or Stanford behind them do.
But in fact, there is a secret to success lies in what approach you use to make a profit.
You can create complex and cumbersome trading systems that are scary to look at, not only to trade them in practice.
Or you can use simple strategies that make Forex trading understandable and accessible even to a person with a secondary education.
In fact, there are quite a few such trading options and they are all very popular among most traders.
Even a newbie on the stock exchange can use them effectively.
Choosing a simple strategy for Forex
• Trading on news – despite the fact that this option is associated with knowledge of some economic principles, it can also be classified as simple.
In the calendar you can see the schedule of planned events, and in the feed you can record their release and, based on what the news was, draw conclusions regarding the behavior of the price of the currency pair.
If desired, you can use any other source as an alternative to the news feed of the trading terminal.
This option is described in detail here - http://time-forex.com/strategy/torgovlya-na-novostyakh
• Strategy on pending orders x - in my opinion, this is also a fairly simple option for making money on Forex, since with this use it is almost completely possible exclude the human factor.
There is nothing easier than drawing a price channel on the chart of a currency pair and placing a pending order after setting the stop loss and take profit parameters.
Then everything will happen automatically, the order will be triggered, and then closed with a profit or a planned loss.
The strategy is quite effective, since orders are opened only when the channel is broken out, which means a change in the market trend.
You will find a description of the details - http://time-forex.com/strategy/strategiya-otlozhennykh-orderov
• Closing the price gap - in the foreign exchange market there is such a thing as a gap, when the price makes a sharp jump, forming a price gap on the chart.
This happens most often after the weekend, so detecting a gap is quite easy, and the strategy itself is quite simple and easily applicable in Forex.
Its essence is based on the pattern according to which, after a price gap has formed, the price tries to fill it in the near future.
That is, the price gap in the upward direction is filled by a downward trend, so there is nothing easier than opening a sell transaction and closing it after the gap is filled.
You will find the nuances of use here - http://time-forex.com/strategy/strategiya-gep
In the article you got acquainted with three interesting trading options, but these are not all simple Forex strategies, if you wish, you can choose another option you like in section - http://time-forex.com/strategy