My Unique Forex Trading Strategy Which I Use To Make Money On A Daily Basis
My trading strategy is a “tested and proven” trading strategy which i use analyze forex and make money on a daily basis.
My trading strategy is an intra day trading strategy which is used to look out for good trading opportunities.
Apart from my wealth of experience and vast knowledge of forex market, I use a number of indicators to determine the direction of the market and also to generate and filter my signals so as to keep me out of the market when it not safe and an 80% probability of making a kill on every signal generated.
I use a number of indicators to calculate a number of market parameters like over bought and over sold level, moving average, average directional index, relative strength index, the market price level with respect to the Fibonacci lines, resistance and support,……. and i go for a buy when all indicators say buy on higher time frames (which are 1week, 1day and 4hours) down to the least time frame, which is the 1min. time frame and i go for a sell when all my indicators say sell on higher time frames down to the least time frame
Now, i don’t just jump into a trade like that at any time because all the indicators says buy or sell as the case may be.
At the beginning of my trading, day the first thing i do is to analyze the economic indicators (fundamental analysis) to see if there will be a high impact news scheduled to be released for that day which is liable to affect the market (if there is, i wait till after the effect of the news). Then i look at the higher time frames of the major pairs (i love trading pairs with low spread) to determine the trend direction of the market (that is if all the higher time frames indicates same direction), then i wait for the trading section of the pair, (say USD/JPY i wait for USD section to start). As soon as the section starts, i trade only pairs whose lower time frames to indicate the same direction as the higher time frames ( that is for pairs that have at least the daily and 4hours time frames indicating the same direction). But before i finally place an order i check the market price level for the pair with respect to Fibonacci lines to look for safe entry level on the 1min. time frame ie. after a 1min time frame retracement.
When i was still a beginner, i would open a buy and sell position on all the the major pairs (thats on a demo account) and as soon as we the USD section starts, i start watching for which of the trades will run into profit in the first few minutes to 30minutes to 1hours into the section. Then i enter the same position on that pair on my live account
For every trade i place during any section, i take profit between three and four into the section.
For my stop loss, i use a 25-30 pips stop loss.
Note: when trading with this strategy, stay away from pairs that are the ranging for that period
This strategy works for me very well and i use it to make consistent kills in the forex market.
Just as this strategy works for me, i know it will work for you.
In case of any question feel free to contact me with your question via the comment form on completeforexanalysis.blogspot.com and i will give you the answer to your question in my next write post.
COMPLETE FOREX ANALYSIS… Analyzing forex… making you a successful trader.
I am a seeker of knowledge and for some personal reasons i do a lot of research and findings. Some were along the line i decided to start sharing my thoughts, knowledge, experience and findings with the world because i realized it will be of grate help to a lot of people out there. I have been trading forex for a number of years now and during the cause of these years i have done a lot of forex researches and findings and have gotten a wealth of experience (from watching the market behavior for hours upon hours every day) which i combine to make consistent wins in my daily trade. I believe you can learn a lot from me and become a successful trader. All you need to do is to visit http://completeforexanalysis.blogspot.com/
How to trade forex- Daily Chart analysis (500 pips gain) for august 26th
forex-fxtrader.com This video of todays analysis added to the daily analysis 26th august video, shows 500 pips move before the event., From an educational perspective it is great to help you learn to look at how forex traders use support and resistance when trying to predict where the price of a currency pair is going to go next
Daily Fx Forex Stream – Using Forex Trading Alert Software for Fast and Effective Trading
Forex trading alert software continuously monitor the market for high-probability real-time buy and sell opportunities. Based on system algorithm the alert software generate precise trade entry and exit signals and automated trailing stop-losses.
If you have subscribed to one such forex trading alert software services, it will send you an alert or notification by email or SMS in your cell phone. Forex trading alert software, in many cases are offered as a free service to the customers of an automated forex trade execution platform.
Forex trading alert software prepares real-time alert to buy or sell a specific currency pair. Depending on a buy or sell alerts and either email or SMS notification you can make your trading decisions.
The alert may also include a stop-loss and limit information. So you can avoid continuous monitoring of the market as the auto trading platform would execute your trades which you have already set. These alerts often come at the very beginning of a currencies movement or when key support or resistance levels are broken and tested.
Some forex trading alert software needs installation in your system. Once installed, this software automatically monitors the parent network and notifies you of any new report. These alerts are generated after detailed research, application of different technical analysis, like Fibonacci or Elliot waves, and after obtaining feedbacks from other market indicators. Daily Fx Forex Stream
Forex trading alert software should have systems for fast notifications, auto-update, and instant access to market reports and information. The alert software, in many cases, prepares targeted information bulletin for longer term, positional trader, day traders, and average traders.
Before major economic announcements, which may influence the market, the forex trading alert software should ideally send you a pop-up message reminding you of the release.
Forex trading alert software can be customized to receive trade alerts for the currency pairs of your choice. You can enable or disable entry points to your mobile phone.
Many forex trading alert software allows you to add more than one email id or mobile phone numbers and you can receive the notifications in all of them. You can turn the alerts on or off at any time. Forex trading alert software may come with light flashes which are easy to follow and execute.
The additional features that a forex trading alert software may offer are: daily forex trend analysis, live streaming forex news, forex articles and research, market commentaries, fundamental and technical forex analysis to gauge direction and momentum etc.
Right information at the right moment is the key to your success in forex trading. A forex trading alert software, therefore, should keep you abreast with the market trends and movements. Daily Fx Forex Stream
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