Profitable Forex Strategy
Forex trading strategies are like a gun for forex traders. The Forex market is an uncertain world because there are many players in the Forex market. Even the forex brokers themselves trade their money in the forex market. Almost 98% of forex traders lose their money because of trading with gambling or feeling. Because of this, sometimes the forex industry has a bad reputation from online making money. Forex markets have knowledge itself, so that is why we as professional forex traders have to learn and practice each forex strategy and finally found favorite forex strategy to earn some money with consistency.
Very Profitable Forex Strategies
Forex strategy is always needed in every analysis before making a decision to enter the forex market. One of the popular strategies is money management with tight stop loss and using a maximum risk of only 2%-5% per entry.
Secondly, we need to know a simple way how to draw the correct trend lines in the Forex candlestick chart. This is will used as what current major the we can open trades the same as trend lines direction.
We can draw the trend line from two three or even 6 high and low-level prices. Then we can know what the current trend is. Is sideways, up trend, or down trend.
Trendlines are the simplest way to detect a current major trend.
Another successful and highly profitable trading strategy is support resistance strategy based candlestick patterns analysis combined with liquidity trading forex strategy and multi-timeframe analysis.
A breakout trading strategy based on two reversal candlestick patterns range is also very good and worth it to use.
There are many ways to get more pips from the forex market as long we know where strong area to reverse and in that area we wait for trading signal confirmation. This confirmation is usually based on a breakout strategy and we looking at this breakout in a one-hour time frame at most.
We can learn too about price action as our breakout trading confirmation. This price action is very simple to learn. Because we only need to look for waves of Higher high – higher low for the uptrend and higher low – lower low for the downtrend.
More about the price action breakout trading system we can read in the previous article.
Finally, the conclusion is every forex trader have to look at their works forex strategies, which means those forex strategy have to be produce consistent pips and have accurate signals of more than 75%, and tested at least 2 months before being used on real money.
Even some forex traders test their forex strategy for at least 1 year to get their forex blueprint strategies. Yes, patient-in-waiting trading signals entry momentum is the key to success in the forex industry.
My suggestion is to use trend lines or EMA (Moving Average) as a basic indicator for reading the trend major candlestick reversal strategy, and the Fibonacci retracement strategy to look for the best entry-level and run the test it on the h4 time frame. These three parameters are some of the best forex strategies to trade in the medium term. This is only a suggestion, but you can search a million Forex strategies on the internet via the Forex forum or mql4 forum. If you follow the forex rule from proven forex strategy and use tight money management you won’t lose your money again. Just follow the rule from your favorite forex strategy. And one of my best forex strategies that has proven until now is averaging in true strong support resistance strategy-based candlestick reversal patterns. Even we can use scalping in a 5-minute chart and combine it with trend lines from a one-hour time frame for intraday traders. And lastly, even if we trade with the most profitable trading system, don’t forget to use tight money management as our primary protection strategy for our capital.