In this video I show you how successful this simple strategy has been whilst I was recording this forex training course. Since going back to this basic, simple chart set up I have added it to my usual trading methods. I have multiple screens and one has just candlesticks, fibs, trend lines and support and resistance. It is amazing how spookily accurate it can be.
You of course can choose to add or remove whichever indicators you wish.
The aim of this forex training course is to show you various options that you can choose to include in your forex strategy and those which you may wish to ignore.
I will show you how I’ve used techniques from the first part of the course to make lots of winning trades. Later I will show you how I continued to use this fx trading strategy successfully in 2103, so this was not just a “flash in the pan”
Trading solely from the simple indicators I outlined this week gave me stellar results, so much so that I have now added this method alongside my main strategy. I made profits from trading side ways ranges on the Cad and yet more 100′s of pips trading trends and channels on other pairs. This is a good example of how learning to be flexible in your trading gives opportunities in most market conditions.
It has also allowed me to now trade a lot more from daily and weekly charts which means that I am spending far less time in front of my computer waiting for something to happen.
I do most of my analysis on a Sunday where I draw up an “A” list of trades for which I place forward orders soon after the market open on a Sunday evening. I wait to see what happens at the market open. Sometimes there are gaps in price which are caused usually by news or events that take place over the weekend when the forex markets are closed. Sometimes the gap in price is due to large trades that were made over the weekend between large financial institutions.
Once I have placed these orders I walk away! I also compile a list of “B” grade potential trades. These are trades that I may take, depending on market action. All of this analysis, including daily updates as well as a real time forum, run by my colleague, pro trader Pierre, is available in my 5* rated, ridiculously low-cost forexmentor program.
If you would like to learn how to trade like a professional check out our 5* rated forex mentor program, RISK FREE; by clicking on the “Get Started Today” Button below
To find out more thoughts and inside tips on forex trading, take a look at some of our blogs.
In the second week of this current course I show how to plan your trades and a number of other indicators that can help this strategy become even more successful
Live Trade Example:
Forex Live Trade Example