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johnsmith00710

Forex Day Trading Strategy

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One of the Forex Day Trading Strategy that is often used by day traders is to buy and sell the same currency pair, same lots same time. In other words, you are taking both long and short positions in the same currency pair at the same time.

For example, buy 1 lot of EurUSD at 1.4239 and sell 1 lot of EurUSD for 1.4234. Note the difference between the buy and sell rate. This is the spread. Why pay the spread? The reason for buying and selling the same currency pair, same lots, same timing is that you are hedging your position. The up or down movement of the currency pair will provide you the opportunity to make profit. Place a stop loss of 5 pips and take profit of 15 pips on both the orders.

Suppose the rate goes up. The take profit order will close your long position (buy order) when it reaches a profit of 15 pips. For the sell order, the stop loss ensures that you only lose 5 pips. Your net gain 15-5= 10 pips. In this case, the winning buy order provides the foundation of 15 pips. By placing the stop loss you lock in your profit of 10 pips. 10 pips gain means $100 profit on a $1000 deposit with 1:100 leverage.

Never ever trade without a stop loss otherwise you can lose your deposit in no time. If the EurUSD rate goes down, stop loss closes your buy order at 5 pips loss while the take profit order closes your sell position when you reach 15 pips. Your net gain: 10 pips. This forex day trading strategy works very well in a yo-yo market. How to get a yo-yo market? Time your orders with a fundamental announcement.

Now, you can practise with this forex day trading strategy on your demo account. Do at least 10 trades. This day trading strategy does not need more than 10 minutes for you to implement. With practise you can increase your pips to 20,30,40 or even more.

The days of manual trading are almost over. With the introduction of the metatrader platform and the use of MQ4 robotic script, most of the forex traders now use expert advisors also known as robots to trade automatically. People are making thousands of dollar on autopilot with forex trading robots.

 

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Swing trading is my favorite trading style and sometimes I use scalping trading when I see low volatility of Forex market. Although, I use most friendly trading platform TradingBanks broker which one allows all kind of trading style even hedging. In addition, I don’t have any particular daily trading target or any monthly trading target.

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There clearly was a similar issue could not enter in to a rut of work for pulling up a strategy. A buddy offered this option-strategies internet site to pick a suitable technique and I've opted for for themselves the perfect and effective naybolee. I am hoping I helped you together with your problem. Thank you for attention)))

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From all trading strategies in my trading career, I like most scalping that brings profit in a short time. and, for using this trading policy in a proper way, I have chosen MXTrade trading broker which for all time make sure best trading environment for scalping by providing only one pip lowest trading spreads which is very supportive to make profit with certainly by scalping.

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Thank's for posting such strategy but this look like very complex strategy with many indicators. I think this can be modified and using less indicator to identify and filter the trading result.

That would be really good if you can help us by modifying the said strategy. Can you tell us which indicator should be removed from the said strategy?

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I think that is a pretty good trading strategy but it has too many indicator involved which can confused many new trader. Using fewer indicators is good in trading. For me moving average and Bollinger bands are best in all indicators. Sometimes traders use so many indicators that are become hard to watch out chart properly. I use AAFX’s mt4 platform for my trading. It shows the accurate market condition and executes my orders perfectly.

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The new traders should follow the support / resistance in my opinion and they better trade demo for more than six months before going to trade on live accounts which is i guess very good for them to learn first and then earn.

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Looking high and low, by buying low and selling near the close highr price, with the formation of the lower price hhigh from high price before
 
 

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That strategy provided by the member is quite promising, I think it looks like very promising but not tried yet. Anyone has tried this plan for their trading work/

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trading plan is an important thing that should be owned by a trader to be able to manage trading activities in real accounts for the better. so traders should be able to maximize in preparing a trading plan.

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by trying to be careful in trading then we can make the right trading decisions and can be utilized to keep this business optimally, let alone the risk of forex can also be controlled with a patient mentality so as to make the strategy can be improved

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