A year ago I ventured into the forex market where I tried and tested many different types and methods of trading. Most of these methods have been unsuccessful, while only a few have achieved some success. In my experience, traders who make money in the forex market will never reveal their trading system, simply because someone has to lose in order for you to make a profit.
Currently I am using two trading strategies and they both work well for me. I started using a demo account less than a year ago and tested with it the common trading methods in fundamental and technical analysis. Technical analysis seemed easier for the inexperienced trader as it only requires looking at the chart instead of following the news. Some technical indicators such as the MACD, Fibonacci and RSI were used to evaluate the market and predict the price movement. I don't need to say that I was successful while working with the demo account, but when I started trading on the real account, the fear factor interfered with my trading and I could not succeed in trading despite using the same methods that I spent about four months developing on the demo account.
I felt the pressure increase on me, as happens to many. I started looking for forex signal providers to reduce stress and also the time I spend doing analyzes. After taking great care in testing a number of forex signal providers I was able to find a package for one of the forex charting software that I found to be reliable as it provided excellent trading signals. Indeed, I was surprised by the success of the recommendations I got from this provider. The only difficult thing I faced was how to achieve self-discipline by implementing all the recommendations made by the program whether you agreed to them or not. In the end, the company she chose had a three-year track record of success.
<script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-1841044936300335" crossorigin="anonymous"></script> <!-- 728 --> <ins class="adsbygoogle" style="display:inline-block;width:728px;height:90px" data-ad-client="ca-pub-1841044936300335" data-ad-slot="2843086614"></ins> <script> (adsbygoogle = window.adsbygoogle || []).push({}); </script>Now that I have made a good income by regularly with the signals provider you mentioned, I decided to open a second trading account with which I will try to reuse my trading system. It was only at this point that I discovered how successful this system was when it came to quickly making 30 to 50 pips in the forex market.
<script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-1841044936300335" crossorigin="anonymous"></script> <!-- 728 --> <ins class="adsbygoogle" style="display:inline-block;width:728px;height:90px" data-ad-client="ca-pub-1841044936300335" data-ad-slot="2843086614"></ins> <script> (adsbygoogle = window.adsbygoogle || []).push({}); </script>I have been trading in this market for more than a year now and I noticed that the market is moving mainly based on speculation. This speculation depends on the fear factor and economic news such as CPI and retail sales. I noticed that between 4:30 in the morning and 8:30 in the morning, important data are often released in major economies such as the Eurozone or related to major currencies such as the Euro and the British Pound. The market moves as soon as this major economic news is released. Which if it is issued, for example, at 4:30 in the morning, and it is related, for example, to the sterling pound, then the market in most cases moves when the news is issued between 30 to 50. up or down. What I started doing was doing trade based on this economic news. Where I wait until the news is released and then enter the trading transaction when the price moves seven points from its current level and 15 seconds before the news is released. The stop loss level should be placed 10 pips above or below the current price.
The idea in using this method is to choose the right timing to enter and to commit yourself to the discipline of setting a very narrow stop loss level where it should not exceed ten pips in any transaction you enter. This may be the reason why this strategy works anyway but if you enter too early or too late you will fail to predict the direction of the market. However, when you implement this strategy with precision, you will find that your winning trades will far outnumber your losing trades because you will achieve profits between 30 to 50 points, while you will lose 10 points only if you are lucky. I've been using this method for five months and it still works for me.