Every market player on Forex has his own strategy. But still traders go on looking for simple forex trading strategies. These people have already had the best forex trading strategies, yet their ambitions push them to look for a new one.
Let us to share with you forex trading strategies that work. They truly range from the beginners’ to experts’ level. Maybe these three ones sound a bit odd, but there are many traders who used them to get real money.
Pull back/40 pips
This very tactics is in technical sense a really simple one. In case any important counter pair on Forex makes a move up to 40 pips – in any direction out of the market opening day, you respectively can just go on with the vice versa direction. This would give you at least from 15 to 20 pips. The explanation is simple: you have understanding that the market can’t move only in one direction. Experts claims about frequent ups and downs so be smart to just catch up this moment and follow the other side of the movement.
Buy Above/Sell Below
To move average! This tactics from a bunch of forex trading strategies is familiar to majority of Forex traders. Actually most of them follow this approach to a certain degree in their own way. However, there is yet another one and it is really a nice one. Just direct the moving average indicator to the chart with the preset as follows: (MA method: Simple) /(Apply to: Close) /(Period: 34).
This very sophisticated method make you follow a candle:
- If you have observed that the candle is above the moving average it means a signal: buy!
- If you have noticed that it is below the moving average, it is a very clear sign: time to sell!
Fibonacci Tactics: Three Day Average
After all, would you like to discover this almost hidden secret, which is quite familiar to professionals and is an absolute terra incognita for newbie? This algorithm is a little bit more complex, but it worth trying because it is a really powerful strategy. To make a hint, these are repeated actions for 3 days. It’s rather difficult to explain them completely in this article. So we would strongly recommend to look for this information in Google and learn basic facts as well as main features of the strategy – in detail.
Now it’s time for your choice. After examining each of them just try to test everything, so that you could personally find out which one does work for you better. Master each aspect and pay attention to any detail. Even the most experienced traders can’t promise you a 100% outcome for the above forex algo trading strategies. But without a doubt you can surely earn some money, if you apply them in a proper way.
Besides, all the below mentioned ones were modified by traders from the basics. They were tested by the market players numerous times. Nevertheless, we strongly recommend you to test them very seriously before you use one of them on your actual trading accounts. Wish you good luck in this very risky but so thrilling business.