Every Forex trader has their own Forex trading strategy, but they still look for something new from time to time. They may already have a better one, but their psychology will force them to look for a new one, causing them to lose what they already had.
Today I am going to share with you some Forex trading strategies that can range from basic to expert level. They may seem very strange, but they can bring real money.
(Note: All Forex trading strategies below are modified from the basics and tested on multiple long trades, but I encourage you to fully test them before using them on your live trading accounts.)
Psychology of a trader
Table of Contents
1. 40 pip pullback trading systems for scalpers
This Forex trading strategy is technically very simple. If any major Forex counter pair moves 40 pips in either direction from the open, then you can simply continue in the opposite direction, which will give you a minimum of 15-20 pips most of the time. The reason is simple: you know that the market cannot move in one direction. It always has its ups and downs as we just catch up with the other side of the traffic.
2. Strategy to buy above and sell below the moving average
The moving average is familiar to all Forex traders, most traders approach the moving average in their own way. However, this is another way, but a very good one. Attach the moving average indicator to the chart with the following preset (moving average method: simple) (apply to: close) (period: 34)
When the candle completely closes above or below the moving average without touching it, and the high or low of the candle does not touch the moving average, then you can open a trade.
If the candle is above the moving average = buy
If the candle is below the moving average = sell
(Note: 15 minute chart and higher timeframes recommended.)
- Take Profit (TP) you can have approximately 10 pips for a 15 minute chart signal, 20 pips for a 30 minute chart signal. Test some reverse trades to get the right idea about it.
- Stop loss (SL) must be opposite the trade. For a buy, the stop loss would be a sell, and for a sell, the stop loss would be a buy.
3. Three-day average Fibonacci trading strategy.
This is a slightly more complex but powerful strategy. To describe it completely in this blog is not so easy. Please download the PDF file below and learn all about the strategy in detail.
Trader’s advice:
Now it’s your turn. After learning each strategy, take your time and test everything to find which one works best for you. Get a clear idea about it. We can’t promise you 100% results with the above strategies, but you can certainly make real money if you do it right.
