Forex Trading Strategy Revealed in 10 Effortless Steps
We would all agree that an effortless forex trading strategy would be the best thing to happen to you. Imagine, no more sitting in font of the monitor for hours and hours waiting for the right setup. This forex method, I am about to reveal is really no secret to all top forex traders; they have known and followed these forex steps for years. I bet that this forex trading strategy is not a new revelation to you also ... but you decided to take the easy route and rely on indicators. With that being said, this strategy I am about to reveal is only halfway through your forex trading journey; you will need to be consistent and willing to learn more. I am going to reveal this forex strategy in 10 effortless steps...
1. Trade during market hours. For those traders that trade USD dollar, only trade between 8:00am to 4:00pm.
2. Do not use indicators. Rely on forex price action analysis and resistance lines.
3. Learn more about Japanese candlesticks and bars. Understand the definition and psychology behind the candlesticks.
4. Do not trade during important news (example. NFP)
5. Trade one currency pair at a time and try to get a feel for it. Learn about it's movement, best time to trade it, how to trade it, and when to trade it.
6. Trade only top currency pairs, for example. EUR/USD, USD/JPY, USD/CHF etc.
7. Use stops.
8. You must understand that you will not win every trade. The professional do not win every trade, it would be impossible to make the right call every time.
9. Keep your win to loss ratio simple. For example, keep win:loss at 1:1 or 2:1.
10. Trade with the trend, it have been proven that trading with trend will give you 30% higher chance of winning.