Forex Strategy Trading Tips 3 Easy Ways to Select High Probability Tra

Views:
 
     
 

Presentation Description

No description available.

Comments

Presentation Transcript

Forex Strategy Trading Tips: 3 Easy Ways to Select High Probability Trades.:

Forex Strategy Trading Tips: 3 Easy Ways to Select High Probability Trades. By: Jay Molina From: http://myfxinvestment.com/

Slide 2:

I’m writing this article after I talked to one of my traders the other day and she was asking me about how to find high probability trades to profit from the markets. Forex strategy trading requires you to follow your trading plan, be disciplined, and only trade high probability trades. Most Pro traders use simple strategies with strict money management to help them achieve their trading goals and profit consistently from Forex trading. In this part of my Forex strategy trading tips series I’ll be talking about 3 easy methods I use to help me select high probability trades.

Slide 3:

Never go against the market current: Even though I do use many custom indicators and trading strategies (click here to join my mailing list and learn more about my trading strategies and get a free gift!) , most of my trading is still based on basic trading principles. I always respect the overall trend and don’t try to go against it. I also respect strong support and resistance levels as they represent the area where supply and demand meet. The Forex market is bigger than us and even if you have millions of dollars in your trading account it is almost impossible to ever manipulate the market and make it go your way.

Slide 4:

Use the K.I.S.S Principle: The KISS principle stands for “keep it smooth and simple”. One of the best ways to get confused, commit mistakes, and lose money is by using complicated trading strategies that you don’t really understand. I have been trading the markets for years and I still only use very basic (but extremely powerful) trading strategies that allow me to make the type of returns I expect from Forex trading. There is a Forex myth that says that “complex Forex trading systems are more effective and make more money than the simple trading systems.” This is not always true. I know some very successful traders who don’t use more than a set moving averages and a MACD indicator to enter the market and profit from it. So don’t forget no matter what system or strategy you decide to use always keep it simple and running smoothly.

Slide 5:

Concentrate on your trading strategy and plan & ignore all the “noise”: The Forex market is full of opportunities. There are thousands of Forex robots, indicators, strategies, mentors, signal providers, etc... However, the real challenge is to filter the good guys from the bad guys and sometimes all the noise coming from other traders or companies can distract you tremendously. This happened to me when I first started. When I got started as an FX trader I was trading with several professional Forex traders who all trade in different ways. This made discovering my trading personally and my trading style very difficult. Nevertheless, I understood that if I wanted to become a professional trader I was going to need to perform analysis and trade based on my own judgment, not someone else’s.

Slide 6:

In conclusion, I strongly believe that anyone who aspires to become a profitable trader needs to develop themselves as traders and trade based on their own judgment (even if you use someone else’s trading system, you are the one you must make the system work!). In the next couple of days I will be teaching more Forex strategy trading tips straight out from my Forex trading vault. Feel free to leave me your comments, I read and reply each one of them . To your trading success, Jay Molina Pro Forex Trader & Educator Free gift! Get a copy of my secret and fully customizable Forex trading plan below: ======> http://myfxventure.com/free-trading-plan/ <======

authorStream Live Help