For all the new people in forex market i am posting some trading strategies so pls follow and all exp. guys post there strategies and help all of us to learn and earn in farely untouched forex market in gr8 INDIA.
so here we go
Forex Trading Strategy Number One:
When you are just starting out, strive to carve out 20 pips per session, and that’s it. Then, turn it off, and study some more. When you get really good at it, you can then “graduate” to higher returns. So, set your goal at 20 pips and stick to it, until you are a grand master at this wonderful “business” called forex trading. I stress the word business. This is not a game, especially where your “hard-earned money” is involved.
Forex Trading Strategy Number Two:
Spend most of your time on the 15-min chart.
Forex Trading Strategy Number Three:
When you first start out in any particular session, look at the 1 hr chart to get an overall perspective on trend from one session to the next, and what it’s likely shaping up to be at the beginning of the upcoming new session.
Forex Trading Strategy Number Four:
Only look at the 5 min chart if you absolutely have to see what’s behind the current 15 min bar – especially where the bar is elongated, and may have just penetrated a pivot point; in other words, is price reversing course on the 5 min chart, which would obviously not yet be reflected on the 15 min chart?
Forex Trading Strategy Number Five:
Don’t dwell on the 5 min chart, as it contains a lot of “noise” that will whipsaw you to death.
so here we go
Forex Trading Strategy Number One:
When you are just starting out, strive to carve out 20 pips per session, and that’s it. Then, turn it off, and study some more. When you get really good at it, you can then “graduate” to higher returns. So, set your goal at 20 pips and stick to it, until you are a grand master at this wonderful “business” called forex trading. I stress the word business. This is not a game, especially where your “hard-earned money” is involved.
Forex Trading Strategy Number Two:
Spend most of your time on the 15-min chart.
Forex Trading Strategy Number Three:
When you first start out in any particular session, look at the 1 hr chart to get an overall perspective on trend from one session to the next, and what it’s likely shaping up to be at the beginning of the upcoming new session.
Forex Trading Strategy Number Four:
Only look at the 5 min chart if you absolutely have to see what’s behind the current 15 min bar – especially where the bar is elongated, and may have just penetrated a pivot point; in other words, is price reversing course on the 5 min chart, which would obviously not yet be reflected on the 15 min chart?
Forex Trading Strategy Number Five:
Don’t dwell on the 5 min chart, as it contains a lot of “noise” that will whipsaw you to death.