Forex trading strategies for beginners

Descripción

Forex trading strategies for beginners
This forex scalping trading strategy follows short-term trends and gives buy and sell signals on lower time frames (M1, M5 and M15).

This is an excellent strategy developed to take advantage of the short term volatility of the Forex market.

Let’s get serious about making profits
Preferred time frame: 1 minute, 5 minutes, 15 minutes
Recommended trading sessions. Any trading session
Currency pair. Any currency pair

Trading Strategies
Long Entry Rules
A buy order is placed in the market if the following holds true

The line of the custom indicator turns blue and the price trades above the line, which indicates that the longs are pushing the price higher, i.e. a signal to buy the focused currency.

The green up arrow of the custom indicator pops up and at the same time the maroon line of the 0_IndInverse indicator is seen hovering above the 0.00 signal level, which indicates that the price is rising, i.e. triggering a long position.

Stop Loss on Buy. Place a stop loss 1 pip below the immediate support level.

Exit strategy/profit taking on a buy

Exit or take profit if the following chart or indicator pattern occurs.

If the line of the -wmmm-twoPoleButterworth.ex4 custom indicator turns red in a bullish trend, this signals the end of the trend and therefore an exit or take profit is strongly recommended.

Note the maroon line of the 0_IndInverse.ex4 custom indicator, if it falls below the 0.00 signal level during a buy signal, or if a red down arrow forms on the line, this triggers an exit or profit taking, do not delay.

Sell Entry Rules

A sell entry is initiated if the following rules or conditions dominate the market

If the line of the -wmmm-twoPoleButterworth.ex4 custom indicator turns red and the price is trading below the line, as shown in Figure 1.1, this indicates that the bears are pushing the price lower, i.e. a signal to sell the focused currency.

If the red down arrow of the 0_IndInverse custom indicator pops up and the maroon line of the 0_IndInverse indicator is seen falling below the signal level of 0.00 at the same time, this indicates that the price is falling, i.e. a short sale is triggered.

Stop Loss on Sell Entry. Place the stop loss 1 pip above the immediate resistance.

Exit Strategy / Take Profit on Sell Entry

Exit or take profit if the following chart or indicator pattern takes center stage

If the line of the -wmmm-twoPoleButterworth.ex4 custom indicator turns blue in a bearish trend, it indicates the end of the trend and therefore an exit or profit taking is strongly recommended.

Note the maroon line of the 0_IndInverse custom indicator, if it breaks the signal level of 0.00 during a sell signal or if a green up arrow forms on the line, this triggers an exit or profit taking, do not delay.