Trading Guide For New Comers in Forex Market
Note : This article is just a guide for those Trader who had no knowledge of Trading.
Hello Traders,
Here I want to share my Knowledge with you guys and hopefully it will help you A lot. Forex Trading is not a difficult game but it demands patience that usually we lose because our emotions hurt our thinking.
Note: As I am not a premium member so that's why I am using single chart
Analyzing on Bigger Picture :
Here we discussed a pair AUDUSD as an example, Let Say we want to take a Sell trade on Pair AUDUSD. So I will check first the trendline status in connection with support and resistance behavior. This is a very simple approach and we do not use any indicator as well.
After that I will check the behavior of AUD against EUR and GBP also. If AUD is expected to fall against EUR & GBP also, this will further confirm my trade. Moreover, if USD at that time is expected to get stronger against EUR and GBP also then it will fuel the trade signal.
This forex trading strategy can be applied on all time frame i.e. from 1H to 1M.
There are many more strategies that are profitable that I will share with you guys in next ideas.
Hello Traders,
Here I want to share my Knowledge with you guys and hopefully it will help you A lot. Forex Trading is not a difficult game but it demands patience that usually we lose because our emotions hurt our thinking.
Note: As I am not a premium member so that's why I am using single chart
Analyzing on Bigger Picture :
Here we discussed a pair AUDUSD as an example, Let Say we want to take a Sell trade on Pair AUDUSD. So I will check first the trendline status in connection with support and resistance behavior. This is a very simple approach and we do not use any indicator as well.
After that I will check the behavior of AUD against EUR and GBP also. If AUD is expected to fall against EUR & GBP also, this will further confirm my trade. Moreover, if USD at that time is expected to get stronger against EUR and GBP also then it will fuel the trade signal.
This forex trading strategy can be applied on all time frame i.e. from 1H to 1M.
There are many more strategies that are profitable that I will share with you guys in next ideas.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.