My Forex trading strategy

My forex trading strategy is based on technical analysis plus heavy fundamental news. I usually make day trading decisions, though there are some trades lasting for a couple of days or even weeks. I don’t usually apply scalping technique, as it requires more time and energy which I don’t have to spare, but it can be very lucrative if used correctly. I use a number of forex indicators, which have proved to be reliable and helping to make profit in the long run. Technical analysis is made by using chart patterns, SMA lines (50, 100 and 200), trend and channel lines, resistance and support indicators (very important) and candles. That’s not the whole bundle of instruments that I use, but the ones that I mentioned are mostly applied. I also pay attention to fundamental news, particularly in European zone as my residence country is in Europe. Sometimes, when big news is coming out I close my trades, but that’s not the 100% rule, as there are always exceptions.

One more thing that I found out during years of trading is the price action or the momentum indicator. I believe that the price acts according to the laws of physics combined with psychology. Yes I know it sounds weird, but I have been using this indicator for years and it works. To put it simply sometimes the currency moves without retrace hundreds of pips – and then you just follow the trend – the momentum is strong. Sometimes the currency shoots up 100 pips and stops there – the momentum is weak and you can use this indication to sell the pair, because most likely it will retrace.
Finally, money management and psychology are the key to keep you from burning your account, because even the most profitable strategy stops working for a day, three days, weeks or even a month.

 

If you want to learn more about fx trading and how to really make money on Forex without huge draw downs, I suggest reading material that I will be posting here. Be aware that some of my trading strategies may require MT4 (Metatrader 4) trading platform and custom indicators. Besides writing about strategies and techniques, I will be putting a lot of focus on trading psychology. During the long trading years I have found out that strategy may be not that important as trading psychology and the latter is very often the culprit of traders’ failures. Sometimes even the most profitable strategy may not save you from psychological weakness which makes your trading decisions irrational and detrimental.

 

If you want the proof of my successful trading, you can always look up my forex trading results page where you can see several of my accounts on myfxbook.com website. Those accounts are the proof that my trading strategy works and following me on my website or by using copytrading platforms Zulutrade platform (my signal account is simplyred123) and Etoro (live account RgGraham) will bring you profit in the long run.