5/19/ · One of them is the technical analysis forex price action strategy. This is one of the more reliable and best forex strategy for consistent profits available in the market. Technical analysis would basically be watching the forex price action itself The consistent Forex strategy for better profits blends a good set of technical indicators together with proper risk implementation to boost your trading profits. This strategy deploys intraday tactics as an ultimate key to steady long-term profitability. We try to edge out Estimated Reading Time: 4 mins 6 Best Powerful Forex Strategy For Consistent Profits ()
Making Consistent Profits with ’10 Pips A Day’ Forex Strategy | Forex Academy
There is a lot of buzz in the Forex industry about the ten-pip a day strategy. We have seen both experienced and novice traders getting excited about this strategy. Traders need to adapt themselves to the market situations to be successful. Making ten-pip a day is a great way to accumulate wealth in the Forex market, and it is easily possible, best forex weekly strategy for consistent profits.
All we need is to master our skills to the point where we exactly know when to take a trade and when not to.
This is true to an extent, but if we practice this strategy enough on a simulator, we can easily make ten pips a day no matter what.
Also, it is up to you to follow this idea or not. You can stop trading after making ten pips, or best forex weekly strategy for consistent profits can ignore that and go for 20, 30, or even pips a day according to the market situation.
In case of any tiny bit of uncertainty, make sure to exit right after you make ten pips. One critical aspect of this strategy is selecting the currency pairs. One must be professional enough to understand best forex weekly strategy for consistent profits market situations and pick the pairs where there is a minimum potential of making ten pip profits.
Now, to understand how this works, we have taken five different trades for five trading days in the last week of Feb and have generated 10, 20, and 30 pips in the market successfully. According to this strategy, conservative traders must stop trading after making ten pips for that trading day, best forex weekly strategy for consistent profits. But, if you are an aggressive trader, go ahead for bigger targets.
When all the rules mentioned above are met, we took a long position in the New York Session on 24th Feb Our stop-loss is placed right below the lower Bollinger Band. As mentioned, exit the trade as soon as you make ten pips if you are a conservative trader. We have gone long on this pair in the New York session on 25 TH Feb We can clearly see both the indicators indicating a clear buy signal.
When prices hit the lower Bollinger bands, and the Stochastic indicated the oversold market conditions, we went long on this currency pair. We would have exited the trade at ten pips, but the market started printing continuous bullish candles, which made us wait for the prices best forex weekly strategy for consistent profits hit the third target.
The entry was at the point where the prices touched the lower Bollinger Band, and the stop-loss is placed just below the recent low. Since the higher highs were getting continuously printed, we went for the third target and exited the trade as soon as we made 30 pips. We went long in the Asian session on 28th Feb We went short when the price action hit the upper Bollinger band, best forex weekly strategy for consistent profits, and the Stochastic indicated the overbought conditions.
The stop-loss is placed just above the upper Bollinger Band. We have gone for the third target, and the market printed a brand new lower low. This pair was in an overall downtrend, and on 25th Febwe have activated the sell trade right after our sell criteria is met. The entry was at the point where the price action touched the upper Bollinger band, and the stop-loss was just above the upper band.
The reason we place the stop-loss there is because of the bands of the indicator act as a dynamic support resistance level to the price action. We took sell when both of the indicators lined up in one direction, and we booked profit at the third target.
Sell trade was activated on Friday, 28th Feb, in the Asian session. When the Stochastic reached the overbought area and gave a sharp reversal, we saw the price action hitting the upper Bollinger band. This essentially means that the market is ready to go down. In almost all of the cases, we have gone for the third target only and make 30 pips profits.
The reason behind this is to show you how reliable is the Bollinger Band and Stochastic combination. We are saying this time, and again, please stop trading after making ten pips per day if you are a conservative novice trader. But if you are experienced enough to predict the market, milk as much as you can depending on the market conditions. All the best. In several not the examples price does NOT touch the bollinger band and therefore does NOT fulfill the rules entry but the trade was taken.
This suggests other rules are used by no shared. If you share a rule based system ensure all trade shown as examples meet the rules! Hello J Smith. Hope you are doing good. Yes, there were a couple of instances where the prices did not touch the Bollinger Bands. But we have taken the trades based on what the Stochastic is indicating at that point. It is crucial to understand the market situation and take our trades accordingly than to be very stringent on the rules.
Hope this answers your question. Thank you for answering the question; much appreciated. Apologises if the question came across aggressively that was not my intention. I hope you are doing well too and thank you for sharing. Save my name, email, and website in this browser for the next time I comment. About Us Advertise With Us Contact Us. Forex Academy. RELATED ARTICLES MORE FROM AUTHOR. Trading Reversals Using Bullish Reversal Candlestick Patterns. Using Bollinger Bands to Time the Rectangle Pattern.
Four Powerful Above the Market Trading Strategies that Work. What time frame I trade, stoch is sometimes a noise signal. how to know that the market is in a strong upward or downward trend?
I love this strategy. You guys are awesome. LEAVE A REPLY Cancel reply. Please enter your comment! Please enter your name here, best forex weekly strategy for consistent profits. You have entered an incorrect email address! Popular Articles. Forex Chart Patterns Might Be an Illusion 4 September, Chart Patterns: The Head And Shoulders Pattern 16 January, Samtrade FX Review 26 March, NicoFX Review 24 February, Academy is a free news and research website, offering educational information to those who are interested in Forex trading.
EVEN MORE NEWS. Understanding the Economics of Cryptocurrencies 13 June, Trading Reversals Using Bullish Reversal Candlestick Patterns 12 June, Using Bollinger Bands to Time the Rectangle Pattern 11 June, POPULAR CATEGORY Forex Market Analysis Forex Brokers Forex Service Review Crypto Market Analysis Forex Signals Forex Cryptocurrencies Academy - ALL RIGHTS RESERVED.
SIMPLE Forex Day Trading Strategy! (Secret To BIG Profits)
, time: 20:37VPX Uses Best forex Strategy for Consistent Profits| Vantage point X
What is the most accurate forex strategy? EMA cross over – very easy and profitable trading strategy mt4: Moving Average Convergence and Divergence – MACD the most accurate forex strategy: Bollinger bands a simple profitable forex trading strategy: Support and Resistance trading the best forex strategy ever: Conclusion 6 Best Powerful Forex Strategy For Consistent Profits () The consistent Forex strategy for better profits blends a good set of technical indicators together with proper risk implementation to boost your trading profits. This strategy deploys intraday tactics as an ultimate key to steady long-term profitability. We try to edge out Estimated Reading Time: 4 mins
No comments:
Post a Comment