Hi guys I am very new to this forex businesss i would really appreciate if anyone can tell me one simple example of stratgy so I can understand what is stratgy..
From my perspective, a trading strategy is a way that makes sense to you for interpretation of what is happening on the charts and a set of rules that you follow for placing trades.
Personally, I use support and resistance lines, trendlines and candle patterns to interpret the charts ..... others use indicators in various combinations.
My strategy is documented in my blog if you want to check it out.
Strategy is your own method of making forecast.
My strategy is:
1. Look at a month graph, a week graph and a day graph.
2. If you can see a trend. Draw support and resistance lines.
3. Correct this line at houres and 30 min. graphes.
4. Use fibonacci fan or gann fan (or something you want)
5. Make decision to trade.
6. Always use StopLoss and TakeProfit!
7. Use no more then 10% of your deposit.
don't forget the fundamental analysis because the relased news move the market
You try MACD, RSI and Stochastic. They are simple for beginners and usually give right signals of oversold or overbought. Most of beginners use it when study to trade. I used it too and it helped me.
Sometimes this strategy are offered by your broker, all you have to do is make good use of them. For instance, my broker Profiforex allows you to trade with the help of expert advisor's on all account types. This strategy is really good if properly used.
my suggestion is trade with demo account then you can find out your own strategy.
Totally agree, well defined strategies like this are good for beginners.
For instance the relative strength index( RSI)
describes the Index of the relative force, how the price which fluctuates in the range from 0 to 10, also signals about aspiration of the market to change of a trend in case of big (close to 100%).
When the index of the relative force rises above the upper auxiliary line, strength of bulls is high.
Demo account is the better option to start trading as a newbie and try to develop you own strategy.
Forex trading is not easy if you don't know how to read the trends or have a very good strategy, you can lose all of your money. It even took me years to practice and learn Forex until finally I can be the expert in Forex trading. Thank God that I have been able to get the best strategy because I've been trading for more than 12 years.
What if I trade for you? I can make up to 500% profits in a month and you can learn my strategy while I trade on your account. This way you're not only going to get the knowledge, but also the money at the same time.
please contact me at: firstname.lastname@example.org
This is the simplest Forex trading system. The beginners usually start with this system. It is easy to use, it gives clear entry signals but at the same time this system can't bring significant profits. It is the simplest system of trade on Forex - usually beginners start from it. As we have already mentioned moving averages are the most widespread indicators for Forex trading.
Open a any chart for a beginner like you EURUSD can be okay for a start ,apply a moving average indicator with the big period.
We'll perceive the situation in which the price is higher than the average one as a bullish trend.
The situation in which the price is lower than the average one will be identified as a bearish trend.
Accordingly, the signal to buy occurs when the price crosses the moving average from the bottom upward.
The sell signal or the signal of reverse of the trend occurs when the price crosses the moving average from the top downward.