Simple Forex strategies turn into those if the trader has a positive trading result in accordance with the accepted rules. When the steps are clear and give a positive result, the strategy is perceived as simple.
If a trader seeks profit in operations with currency, then the player must strictly observe the accepted principles, in other words, strictly follow the strategy.
Account Raising Game
Own rules of productive trading are developed over the years. For a newcomer to the foreign exchange market, even someone else’s strategy should be tested on a training account for six months.
For six months, the skill to select the signal of indicators to enter the transaction will be fixed, the preference for the time of holding the transaction will be determined, the experience of analyzing charts and interpreting the news flow will be accumulated. A psychological portrait of a person will help determine the choice of strategy time frame.
Let's consider three approaches to the choice of exchange trading rules.
Rule 1. Choosing a market analysis method. To trade with profit, you must firmly master both methods - both fundamental analysis and technical analysis.
The release of global news affecting the economy can dramatically change the exchange rate; you have to be ready.
Studying the price history of the currency will help to build a forecast for short-term trading intervals.
Rule 2. Choice of graph analysis method. An indicator, candlestick or figured approach to forecasting does not matter, the main thing is to “correctly” predict the price course.
Charts reflect the past. Trend indicators and oscillators do not provide for scoring global news.
Simple Forex strategies do not require placing more than three indicators in the chart field - the forecast accuracy from a larger number of signals will not increase. When all three pointers send the same signal, the transaction will bring maximum profit.
Candlestick analysis, with all the variety of combinations, is good because the color of the candle shows who there are more on the market - sellers or buyers. Candles will also show the trend reversal point.
Rule 3. Figure skating. The figures on the price chart are divided into trend reversal patterns and trend continuation patterns.
Your strategy is closer to profit
Acquaintance with the rules of choice took place. The next task is to determine your own strategy. Three whales of choice - estimates of three parameters:
- professional suitability and level of training;
- psychological type of player;
- the amount of free time to trade.
The author once received a response to one of the articles on trading on the stock market "I don’t understand half the words, but the energy of the presentation is fascinating." Part of the training is reading special literature. The immersion of the reader in the book of Edwin Lefebvre “Memoirs of the exchange speculator” will already help to evaluate the level, you just need to read soberly, without “bewitching the energy sector”. Only numbers, only facts, ways, methods, approaches to remember, take notes, try on a demo account.
Beginning players in 95% of cases drain the account. Take your time to trade for real money earned by labor elsewhere. Learn Simple Forex Strategies.
If there is knowledge, a worker, a collective farmer, an intelligentsia, and a housewife can enter into trading in the foreign exchange market. At the "Forex" there is no electronic pass-through and time records. You can log into the system for 5 minutes, you can sit for hours - it all depends on the desire and time capabilities of the player.
In the first months of trading on the Forex market, in the mind of the trader, a state similar to the candy-bouquet period of the first love: all the time and thoughts only about him, about the "Forex". Do not allow excessive enthusiasm, relax one day a week without a computer and mobile Internet - the world will wait.
A simple Forex strategy without indicators
When the amount of trading knowledge and experience is at the initial level, indicatorless trading methods will help.
The simplest Forex strategy for beginners is "Floor - ceiling." We build two lines on the five-minute chart of the selected currency pair: the support level and the resistance level, and open a deal taking into account the price behavior in this corridor. As soon as the price breaks the ceiling level, open a sell order; breaks the floor - put up a deal to buy.
Nuance: it is necessary to place one main order and one control “break-even”. Remember, it’s better to take a small profit than get a big loss. And do not enter into a deal 15 minutes before the release of global news.
Simple Profitable Forex Strategies
In foreign exchange trading, the main thing is self-discipline. Suppose you have chosen the London strategy - trading during the opening hours of the London Stock Exchange, from 12 noon Ural time. Every day we carry out exactly one deal with a couple, which includes the British pound.
We are building a schedule of "30 minutes." We evaluate the closing of the first candlestick of the interval. We set up pending orders as follows: for purchase - at the maximum of the candle, for sale - at the minimum of the candle. Set Stop Loss at the same highs and lows. We expect the price to move by 15 points, and set the breakeven. If the price goes “wrong”, the second order will help to go “zero”.
For those who like hotter
If a trader is not inclined to long expectations, but wants to make a profit “here and now”, then a simple Forex trading strategy with the saying “Quick Profit” will help.
The essence of the method is in trading on the minute chart. We are building a graph. We weight it with three indicators:
- EMA with periods of 25, 50 and 100.
- Parabolic SAR system.
- MACD
We are waiting for the opening of the North American exchanges. A transaction is opened depending on the direction of the price crossing three exponential moving averages. At the same time, we look at the state of the SAR and MACD filters.
If the price crosses the averages from the bottom up, the MACD is moving up, and the SAR is below the price, then this is a buy signal. Stop loss will not hurt.
A good reaction is important with the intraday Forex strategy. Simple strategies here require an instant decision to enter - exit the deal. A long thought will put the trader before the fact of a missed opportunity.
Pattern D
The figures on the chart are patterns. The strategy is based on the search for Double Top or Double Bottom shapes.
We’ll select the popular currency pair “euro - dollar”, build a chart for it with a period of 4 hours, crop the chart with moving filters and filters:
- EMA with a period of 7, 21, 365.
- MACD with parameters 5 and 13.
- SMA with a period of 89.
The trader has two tasks: to buy cheap and sell expensive. Consider the buy option. We look for two lows on the chart, where the minimum 2 is higher than the minimum 1. We look at the histogram: both the first and second lows should be firmly placed below 0.0045 by MACD.
We divide the trading lot into three parts in the proportion of 30-50-20. We set take profits: the first is 30% higher than EMA-21; the second at 50% between SMA-89 and EMA-365; the third in 20% closes if the resistance is insurmountable.
Soak up the experience
Existing traders, having achieved financial success, having prepared an unsinkable airbag, share their trading experience. The participants of the stock exchange game should place on the desktop books of two dinosaurs and one young trader:
- Alexander Elder, "How to play and win on the stock exchange."
- George Soros, Alchemy of Finance.
- Timofey Martynov “The mechanism of trading. How to build a business on the stock exchange. "
The knowledge gained by reading books will increase skill and the chances of winning. The more extensive the knowledge, the more confident the trader’s tread on the market, the more independent the player is in making decisions.
