5 Simple Steps Complete Trading Strategy that PRO Traders Know but Beginners Ignore…
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What are the best but simple trading strategies that work in Forex and Stock Market? Here’s a 5 Simple Steps Intraday / Day Trading Strategy that works…
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Can these 5 steps make you more profitable in Trading Well, In this video, I’m not only going to show you some of the most useful trading techniques, but I’m also going to execute it in live market, so you can actually see how it will look when you will trade with real money. Also, checkout other strategies videos in the strategies tested hundred time series, where we tested different strategies 100 times to find their win rates, because some of the data mentioned in this video is based on that series, and don’t forget to subscribe to the Trading Rush channel, after all you don’t want to use a strategy that doesn’t even work.
If you have been trading for a while, you have probably realized that not all trading charts are worth trading. There are times when you should take more trades, because the market is perfect for booking big profits. But then there are times when you should completely avoid trading, because if you do, you might end up with multiple losing trades in a row.
Instead of immediately looking for new trades, the first thing you should do is analyse if the market is worth trading or not.
So when I started recording this video, the forex pairs were not really that good for taking trades. As you can see, on the this pair the 200 period moving average was looking flat, and the price was crossing it multiple times in a short amount of time.
If you have watched my previous videos, you know I use and recommend using a 200 period exponential moving average to find the long term trend, because it’s the easiest way to find the trend, and if we take trade in the direction of the long term trend, we can achieve greater reward to risk ratios, in other words, we can make more money.
So, on these forex pairs, I’m looking for a chart, where price is staying above the 200 period moving average for a while, and where the moving average is not looking flat. Furthermore, the price action should look cleaner. For example, look at these two charts. Here, the first chart looks much cleaner than the second chart. On the first chart, the price is staying above the moving average, and is not looking flat. This kind of chart is perfect for beginner traders, as the price action is easier to read, and your stoploss won’t get taken out because of a choppy price movement.
Many people lose money by taking too many losing trades in a bad market. If your charts look similar to these, you should probably avoid trading at that time.
When I started recording this video, most of the forex charts were looking like this. So instead of taking trades in these choppy conditions, I closed the charting platform and came back later when the price action was smoother.
Few hours later, the price action on the this pair was much cleaner. The price was above the moving average. Furthermore, the 200 period moving average was not looking flat.
Once you filter the bad charts, and find a good forex pair, it’s time for the step 2, where we will use the multi-time frame analysis to find more information about the chart. By more information I mean the points of interests where price has a higher probability of reacting. Sometimes, when you trade on a smaller timeframe, you might end up taking long trades, at a strong resistance level that is clearly visible on the daily time frame. This lack of information can make you lose money.
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