Today I am going to share with you some Forex trading strategy that may range from basic to expert level. They may sound really odd, but can make some real money.
(Note: All the below mentioned Forex trading strategy are modified from the basics and tested with several long time trades, yet I advice you to test it completely before you use on your live trading accounts.) Forex Trading Strategy Trader’s Psychology.
1. 40 Pips Pull back Trading Systems for Scalpers
This Forex trading strategy is technically real simple one. If any major counter pair on Forex moves up to 40 pips in any direction from the market opening of the day, then you can simply go on with the opposite direction which would give you a minimum of 15 to 20 pips at most of the time. The reason behind is simple, you know that the market cannot move in one single direction. It always has ups and downs where we just catch up with the other side of the movement.
2. Buy Above and Sell Below Moving Average Strategy
The moving average is familiar among all Forex traders, most of the traders approach moving average in his own way. Yet this is one more way, but a real nice one. Attach the moving average indicator to the chart with the following preset (MA method: Simple) (Apply to: Close) (Period: 34)
When,a candle closes completely above or below the moving average without touching it, also the high or low of the candle does not touch the moving average, then you can go for the trade
If the candle is above the moving average = Buy
If the candle is below the moving average = Sell
(Note: 15 min chart and higher time frame are recommended.)
Take Profit (TP) you can have approximately 10 pip for 15 min chart signal, 20 pip on the 30 min chart signal. Test some back trades to have a proper idea about it. The Stop Loss (SL) should be opposite to the trade. To Buy, sell would be the stop loss and for Sell, buy would be the stop loss.
3. Three Day Average Fibonacci Forex Trading Strategy
This is a little more complex, yet a powerful strategy. It’s not that easy to describe it completely in this blog.