QUESTION - WHAT ARE THE BEST FOREX TRADING STRATEGIES?
1ST - MACD TREND FOLLOWING STRATEGY
Step #1: Wait for the MACD lines to develop a higher high followed by a lower high swing point.
This is an unorthodox approach to technical analysis. But, we at Trading Strategy Guides.com are different. We don’t mind doing uncomfortable things if that’s what it takes to...
Question: What is the best trading strategy for Intraday?
Answer: Intraday trading will take a great deal of your time. This is because you will be focusing on the charts all day that you will be trading. This type of trading requires a great deal of focus. Make sure the focus is one of your strengths. If you cannot focus, intraday trading will be extremely...
The Andrews Pitchfork Trading Strategy
Our team at Trading Strategy Guides likes to use the Pitchfork trading system to identify a change in market behavior and make a profit from it. It’s important to understand what Andrews Pitchfork is and what pivots to use. This will give us more confidence later when taking the trades based on the Pitchfork trading...
As the name of the Elder trading system suggests there are three “screens” that we apply to every trade. The three screens used by Alex Elder can be summarized as follows:
First Screen used for establishing a trading bias.
The second Screen applies technical indicators to identify retracements against the trading bias established earlier.
The third Screen is...
Rule #1 Define the London Trading Range
We’re going to use the range definition that takes into consideration only the body of the
candles, excluding the wicks.
Note* this trading rule can be adapted as you get more experienced at reading the price action.
This strategy works because the Asia trading range tends to attract buy and sell stops above
and below the...
3 Simple Tricks to Recover from a Drawdown like a Pro.
In our private client area, we often talk about the importance of understanding drawdowns.
The first step in dealing with drawdowns is to acquire the right mindset that is conducive to trading.
Do you want to learn how to live through the daily drawdown that is almost inevitable and all traders must go...
Day Trading Camarilla Pivot Trading Strategy
Mean reversion day trading inherently has lower profit margins with Camarilla pivots. The reason behind this is very simple due to the proximity of the Camarilla points with the price action you’re left with lower profit margins.
So, from the start, you have a handicap that as a trade you need to overcome.
Trading is...
How to Trade Using the Stairs Trading Strategy
If you don’t want to trade on pure randomness, you need a trade trigger before opening an order. When the price reaches your level of interest, you need some type of confirmation.
This is where our entry technique can be applied across all types of trading strategies.
Step #1: Identify a strong trading market that...
During Asian Tokyo Session trade:
GBPUSD, GBPAUD, GBPJPY, GBPNZD.
Trading Time Zone: 1 hr before to 1 hr after Tokyo Session.
Trade 15m chart.
Add a "00" & "50" numbers indicator to chart or add them to your chart.
As the new trading day starts, watch how price reacts to those price levels.
This pair price came bullish, had a bearish pullback and then a short...
Step #1: Identify two bottoms where the second bottom is at least 5% higher than the first bottom
The first step is to identify the correct price structure of the ugly double bottom pattern. Basically, we need two bottoms where the second bottom is higher than the first one. In other words, the price needs to make a higher low.
The second bottom also needs to be...
Trading Pullbacks with Keltner Channel
Trading pullbacks successfully can only be done in the presence of a strong trend. Using the Keltner channel indicator we can study how the price behaves around the upper and lower envelopes to gauge the strength of the trend.
As you already learned when the price hugs one of the two bands and crawls along with the band, we...
Trading Ranging Markets with Keltner Channel
It is said that the number one account killer in the market is a ranging market. Consolidations are very difficult to trade. However, you can take advantage of the difference in the way the Keltner channel system can be used in combination with other technical indicators.
The price won’t really touch the bands when it...
Where to put Money During a Recession?
#1 Recession-proof Stocks: Discount Store Industry.
Here is a list of retail stocks to keep an eye on during the 2020 recession:
Dollar General (NYSE: DG ) – during the 2008 crash DG rose more than 60% and since the middle of March 2020, it’s up the stock is up more than 38%.
Walmart (NYSE: WMT ) – since the COVID – 19...
TRADING PULLBACK RULES
1 - Find Daily uptrend with HH's & HL's.
2 - Switch to the 30m Time Frame
and Wait for a Pullback
against the Uptrend.
3 - Place Fib between last swing
high and low levels,
prior to the pullback.
4 - Buy Anywhere Between 50% and 61.8% Fib.
5 - Place Stop Loss below Swing Low.
6- Take Profit at break above the
previous Swing High.
When trading the best wolfe strategy you will find that after the entry is triggered your position should show you an immediate profit. This is because the reversal pattern that emerges from the wolfe wave chart pattern is very violent.
Once we’ve got the first five waves we have the general setup of the wolf wave . After the last wave has broken above the...
COME JOIN OUR FREE LIVE EFX TRADING SESSION THIS WEEK.
USE THE EFC INDICATOR OR OUR FREE RSI 80/20 STRATEGY FOR LIVE SESSION.
EFC INDICATOR SHOWS
1 - OPEN ENTRY SIGNAL
2 - STOP LOSS SIGNAL
3 - TAKE PROFIT SIGNAL
