Simple forex strategies that work
you can use simple strategies that make forex trading understandable and accessible even for a person with secondary education. In fact, there are quite a few of these trading options and they are all very popular with most traders. Even a newcomer to the exchange can use them effectively.
Choosing a simple forex strategy
Trading on the news – despite the fact that this option is tied to the knowledge of some economic principles, it can also be attributed to the simple one. To use news trading, you just need to use the news feed and the economic calendar. In the calendar, you can see the schedule of planned events.
The strategy for pending orders x – in my opinion, this is also a fairly simple option for making money on Forex. There is nothing easier than drawing a price channel on the chart of a currency pair and placing a pending order in advance by setting the stop loss and take profit parameters. Then everything will happen automatically, the order will be triggered, and then it will close with a profit or with a planned loss. The strategy is quite effective since orders are opened only when the channel is broken, which means that the market trend changes.
Closing a price gap – in the foreign exchange market, there is such a thing as a gap, when the price makes a sharp jump, forming a price gap on the chart. It happens, most often after the weekend, so it is quite easy to detect a gap, and the strategy itself is quite simple and easily applicable in Forex. Its essence is based on the pattern according to which, after the formation of a price gap, the price will try to fill it in the near future.
That is, the price gap in the upward direction is filled with a downtrend, so there is nothing easier than opening a sell trade and closing it after filling the gap.
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