Forex Trading Strategy For Beginners
New at Forex Trading? Most of the beginners; when start trading in forex market they need some powerful strategy to make profit. Before beginning forex trading what you need to know is top 10 things of forex trading which you can read in my previous article so you’re ready to start.
Already read the beginner guide to begin your forex trading journey to make huge profit from the foreign exchange market? If you’re comfortable and learned a lot of things about forex then you can enter in this market or quit right now.
In this article, I’m gonna share you top 5 easiest forex trading strategy that you can consider using as a beginner. So read till the end so you don’t miss out any information to take action to start your first trading.
There are 5 easiest strategy you should follow is:
1. Range Trading,
2. Momentum Trading,
3. Breakout Trading,
4. Price Action Trading,
5. Pivot Point Trading.
#Strategy 1: Range Trading
Our first trading strategy you can consider using is Range Trading. It means that you’re not trading in upwards or downwards market but your trading in a market that is going in straight or sign way. Watch this video tutorial resource how to do Range trading:
#Strategy 2: Momentum Trading
Our second trading strategy you can consider using is Momentum Trading. It means you will use the market strength when trending upwards and downwards. You can use it for short-term and long-term trading.
You can use the following indicator in momentum trading is:
– MA (Moving Average).
– RSI (Relative Strength Index).
– SO (Stochastic Oscillator).
– ADMI (Average Directional Movement Index.
Learn more about how momentum trading should be done watching this video resource:
#Strategy 3: Breakout Trading
Our third trading strategy you can consider using is Breakout Trading. It means when there’s a strong resistance and the price is ranging there’s not much volume when there is a sudden news release that price will break the level so you would buy. When the price break resistance level so you would sell but when the price breaks a pot so be very careful before trading.
How to understand that it is breakout trade:
– Swing high or swing low.
– support or resistance.
Watch this video tutorial to understand how the breakout trading strategy works and what it is:
#Strategy 4: Price Action Trading
Our fourth trading strategy you can consider using is Price Action Trading. There are lot of indicators out there they are lag indicators and price action is the one you ever get fear of how the market is feeling right now.
The good thing about price action is that you do not need to have a tons of indicators cutter on your chart and you don’t need to rely on way too much lagging indicators now it doesn’t mean that lag indicators is useless it just means that you use it for different purpose. You don’t use it to enter but you use it as a confirmation. You use this strategy to determine the trends.
This trading strategy can be used as: – To take Profits.
– To Read Candlesticks.
– To cut loss or profit.
– No lagging indicators.
– Underlying message.
– how to trade areas of confluence,
– how to determine the trends.
Watch this video tutorial resource to learn more about Price Action Trading how works:
#Strategy 5: Pivot Point Trading
Our final trading strategy that you can consider using is Pivot Point Trading. This is complicated and I do not recommend to choose and pick this trading strategy if you’re an immediate beginner in forex market.
When you’re trading according to Pivot Point Strategy you’re objective to determine where is –
– the turning point.
– overall trend.
– PH, PL, CP (Period of High data, Period of Low data, Costing Price.
Watch this video tutorial how to use Pivot Point Trading strategy and what it is:
Finally you’ve already knew about five easiest trading strategy in forex for you to begin your journey. I recommend to watch these all above videos so you can make huge amount of profits trading in forex market.
Risk Warning: We do not encourage to invest, we guide you how to trade on forex. If you’re going to invest you can’t afford to loose then stop right now. If you can take risk of loosing then begin your first forex trading with our recommended forex broker. To know why should you choose the right broker read my previous article. Thanks for read.
If you find this article informational please leave a comment below if you’ve any question or any suggestion for readers interested in forex trading.