Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

Developing a profitable forex trading strategy requires passion, persistence, and discipline, but most of all it requires that you obtain a genuine and effective forex trading education. There are many forex strategies floating around the internet that you can learn from, some of these are effective, many of them are more trouble than they are worth however.

 

It's important to choose a strategy or system that is easy to follow with your daily trading schedule and that can be applied successfully with your account balance size.

 

Price Action Forex Strategies

 

These strategies will fit both short-term and long-term traders that don't like the delay of the standard indicators and prefer to listen as the market is speaking. Various candlestick patterns, waves, tick-based strategies, grid and pending position systems — they all fall into this category:

 

Fundamental Forex Strategies are the based on purely fundamental factors that stand behind the bought and sold currencies. Various fundamental indicators, such as interest rates and macroeconomic statistics, affect the behavior of the Forex market.

 

Price Action Forex Strategies are the currency trading strategies that don't use any chart or fundamental indicators but instead are based purely on the price action. These strategies will fit both short-term and long-term traders that don't like the delay of the standard indicators and prefer to listen as the market is speaking.

 

Inside Bar Forex trading strategy — a popular system with a nice win/loss ratio but a rather rare occurrence of the proper entry conditions. It doesn't require any indicators and can be applied on the bare candlestick or bar chart.

 

Simple Price Based Forex trading system — an interesting system that was developed by one of the Forex traders recently. It works for any pair (though, EUR/USD is recommended) and in all market conditions.

 

Martingale trading system — is based on the popular betting (gambling) system of the 18th century France. The main principle of this system is to double the bet each time you lose so that if you win (considering a 100% bet win/loss each time) you recover a previous loss and will also gain the first bet amount. If one had an infinite amount of money, this strategy would be a sure-fire thing as with the infinite amount of bets the necessary result will with probability 1 eventually come

 

Support and Resistance Forex trading strategy — is a widely used trading system based on the horizontal levels of support and resistance. These levels are formed by the candlesticks' highs and lows. A break-through of these levels after a period of consolidation gives a signal for a trend.

 

Trading guide

 

Choose an important news release that has an effect on the Forex pairs.

For EUR/USD I recommend: U.S. GDP, U.S. nonfarm payrolls, U.S. interest rate decisions, Eurozone interest rate decisions and U.S. budget deficit reports.

Stop-loss for the Long position should be set around the 1-2 hour local minimum.

Stop-loss for the Song position should be set around the 1-2 hour local maximum.

 

The best way to know when to get into a trade or to get out of a trade is to understand the market signals. This means understanding the market, to a certain extent. You don't have to know it backwards and forwards, that will take trading time and experience. However, having a general market knowledge and knowing what signals to look for will help you to get on a trade quickly and will help you to get out of a trade in order to either maximize profits or minimize losses.

 

Note: You won’t get rich overnight in the forex market, it takes time, effort, and discipline to become a consistently profitable trader.

The particular forex trading strategy you use to navigate the market each day can have a profound affect on how you think about and view the market, in other words, on your trading psychology.

 

Forex strategies that teach traders how to “fish for themselves” are the genuine ones that have a higher probability of returning positive results in the long run.

 

Even the best forex trading strategy on earth will not make money if you don’t practice proper restraint and money management.

With these simple steps, you will have established some reasonable and common sense approaches to trading. Once you have the basics down, you can then start to work on more detail orientated trading methods and strategies.You today to explore Forex trading strategies and systems with us and hope You find some useful information for yourself that will eventually improve your trading!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date : 20th February 2020. Yen tumble continues - 20th FebruaryThe Yen has continued to tumble, and is showing a near 2% decline against the Dollar from yesterday’s opening levels.USDJPY printed a 10-month high at 112.10, just 28 pips away from its 10-month high, and EURJPY posted a 2-week high, at 121.00.There have been reports over the last day of major fund managers cutting yen longs, including against short regional Asian currency hedge positions, though most Asian currencies came under fairly heavy pressure today amid concerns about the coronavirus outbreak spreading regionally at an increased rate. There has also been talk of Japanese funds buying US Treasuries. While China reported a large drop in new coronavirus cases, just as the PBoC delivered an expected rate cut, South Korea and Japan reported increases in new cases.This news led to a mixed performance among Asian equity markets, with China outperforming while other benchmark indices sputtered. Trying to call the point of peak contagion, and thereby the peak of economic disruption, is tough, though the consensus seems to be that it will happen in March or April, aided by the arrival of warmer weather in the northern hemisphere (although scientists aren’t exactly sure if warm weather will have the same quelling effect as it does on flu and cold viruses).Japan’s Q4 GDP data, released on Monday, disappointed, showing a 1.6% q/q contraction versus the median forecast for -0.9%. Q3 data were also revised down, and the figures came amid expectations for a dismal current quarter performance given the impact of measures to contain the virus outbreak.There is a risk that USDJPY might sharply reverse gains should risk appetite in global markets deteriorate and sustain. Intraday meanwhile, momentum indicators continue their positive configuration, suggesting that despite the fact that the asset reached overbought territory there is still room to the upside. Stochastics slopes into overbought area and MACD extends above signal line suggesting strengthening of positive bias, whilst ATR posted a 16 pips move. Some correction could be seen ahead of US session, with immediate Support at 112.00 and 111.58 (yesterday’s peak), however the overall outlook remains positive. Resistance sits at 2019 peak , i.e. 112.38 and at 112.66 (R2 of the day).Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Many traders are not so satisfied with IC Markets lately. It seems they have a lot of issues.
    • Potential GBP/USD long
    • White post on white forum paper $Value: Higher than 75
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.