FOREX TRADING

Any good Forex strategies?

i am sooo close to giving up on forex can anyone recommend a good strategies….please

Hi,

One Forex Trading strategy you could use is based on swing trading.

Traders always push prices to far to the upside, when greed is present and to far to the downside, when fear is present. You will see short sharp price spikes on any chart which reflect these emotions. These price spikes never last long and prices soon come back to more realistic levels.

The aim of the swing trader is to sell into greed and buy into fear and make profits. Here are some simple steps you can follow to do this, which can also apply in an oversold market.

1. Look for a short sharp price move to the upside and then check how overbought the market is.

To check how overbought a market is look at some momentum oscillators and they will show you how overbought the market is in historical terms. Good indicators to use are – the stochastic, the MACD and the RSI. They’re all easy to learn so look them up.

2. If the market is overbought, look for a level of resistance above the price you expect to hold and then wait.

Wait for the momentum indicators you are following to turn down, while the price continues to rise. This is called divergence and warns of a break back down so, execute your trading signal and go short, with a stop above nearby resistance.

3. Set a target and wait for it to be hit and take profit.

This simple Forex strategy will always work because humans will always push prices to far to the upside or downside and these price spikes never last long and offer the swing trader huge profit opportunities.

You can learn to swing trade quickly and each currency it will give you a few good opportunities each month, if you only trade market extremes, you will have the odds on your side and make triple digit profits in around 30 minutes a day.

Learn this simple Forex Trading Strategy and you can enjoy long term Currency Trading success!

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