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Taking Day Trading
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Get into the basics on how to become a Professional Day Trader!

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Forex Trading Strategy

Forex Trading Strategy Forex Trading Strategy

Here we will look at 3 forex trading strategies anyone can use immediately. The trading strategies are straightforward to comprehend, easy to use and will continue to work resulting in potential huge gains in the long-term.

Let us look at these forex strategies and why they work...

Many dealers make the mistake of believing that the harder they work and the more complex they make their trading strategy, the more likely it will work however… there's no correlation between working hard and complication to make forex trading a success. Trading currencies is only judged in your market timing and the success of your trading signals.

An easy strategy will have fewer components to break in the savage world of forex trading than a complex one and keeping it simple is best.

#1 Strategy – Breakout Trading On Long Term
The important tendencies start from the new market highs or lows.

It is among the easiest and best methods for trading, purchasing break outs on the chart to fresh highs and selling fresh lows. Most dealers would like to wait for the pullback but can’t do it, because they believe they've lost a bit of the move. In moves that are powerful, this is not likely to happen and they can be left observing the move pile up thousands of dollars and their not in.

If you focus on long term breakouts that are valid and time your entries with a number of momentum indexes, you can potentially earn a fortune. The secret to this forex trading strategy is just to use amounts that the marketplace considers significant.

#2 Strategy - The 4 Week Rule
This is among the most straightforward most lucrative, forex trading strategies trading legend Richard Donchian discovered and formulated for you.

This system is completely mechanical, based upon the breakout doctrine and consists of only one rule:
Purchase a brand new four week calendar high, sell a fresh 4 week calendar and keep a standing in the marketplace at all times.

That is it!

Straightforward? Yes, but it works - backtest it and see.

It is also possible to add filters to smooth the equity curve which are discussed in our other posts.

This system has been used for over 20 years as part of our forex trading strategy and many great dealers have been lovers, like Richard Dennis.

#3 Strategy - Trading Purchased Oversold
Short-term currency trading strategy for forex swing trading.

Swing trading only plans to take advantage of purchased oversold scenarios within the leading tendency and you can do this with simple trend lines. All costs get pushed too much up or down, because of anxiety and greed, you just need to trade into these amounts that were drawn-out.

Once you've identified areas of opposition or support, the ultimate time tool is used by checking unpredictability with the Bollinger group after which - the move to be confirmed by the stochastic.

You then try to find the next one and afterwards, consider banking your profits.

Swing trading is interesting, you do not have to hold moves for long and the strategy can be learned in just a few days. Traders must continue to maintain trading discipline and should always demo trade for several weeks or months until the skill has been mastered.

We presented 3 easy to follow forex trading strategies which are easy to follow. Profitability is possible however; they can make way for long term trading success.

By making the preceding part of your forex strategy you can move forward toward successful forex trading.


February 2014


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