WHAT IS STRATEGY IN FOREX TRADING.

CONCEPT OF FOREX TRADING STRATGEY.

 

 

As you know, we need strategies in our real life. If we are students then we need strategies to do our homework and understand our lectures. Strategy is part of our lives .For example, we have a fever. We go to the doctor. The doctor checked our temperature and suggested some tests for us. Doctors give us medicine after reading our medical test report. Doctors do not give us any medicine without our medical examination This is the doctor's strategy. When we start forex trading, we need a forex trading strategy. If we use a candialstick chart, we need to find our signal with the candialstick chart. We need to set the time frame and also check the TREND. We need to understand the long term market TREN D. And also find the entry point. All of these things form a strategy. But remember, a successful trading strategy is not easy, it takes time. There are many types of forex trading strategies available. scalping strategy. Long term forex trading strategy. Short Term Forex Trading Strategy You just have to be more discriminating with the help you render toward other people. You need to leave your bed time. And you need to have a strong mind to stay with the market and trade. Forex trading is not easy Grab your horses and don't think forex is easy. Forex is a high level of risky business. When you trade without stop loss and strategy, all your capital is at risk. Don't waste your money because your money is important to your family. And money doesn't go to the tree. We have to work hard to get some money. It is a fact that Forex trading also gives us huge profits and changes our lifestyle. But big profits require a great learning Forex education. In the next article I will tell you about the strategy of Forex trading and how to use it. But if you are new to this field, you do not rush to learn about forex trading and create your own strategy. Soon you will be the fresh meat for the sea of ​​foreign exchange. More about as

in this article i will teach you about  forex trading strategy now you know from the world strategy itself you know strategy is like creating a a pattern or  a direction in which you want to go right now so a trading strategy is a kind of algorithm that tells a trader when to open a trade i want to close a trade now so a trading strategy can be seen as a techniques that is used by traders to determine whether they should buy a currency or whether they should sell a currency so now when you come up with this strategy now that strategy tells you when to strike right when to strike it's just like a soldier in the warfront he knows when to shoot he knows when not to so he knows if he's in a close range with the enemy he's not going to use the knife he knows when to use other weapons right now so there are strategies in which you approach the forex market now you ever wonder you know trading and then you keep you keep making losses right you keep you keep when you sell the market begins to begins to go up when you buy the market begins to go down why but if you have a strategy you'll be able to understand the pattern right and you will now have a trigger what you need to see in the market before you you you you place it by what you need to see in the market before you place a cell these are very important and that's what we're going to be looking at right in this course starting from today now there are different types of trading strategies which is very very important that you need to know right so i'll walk you through each of them so here we have listed eight maybe there are more but those eight significant ones now number one is scalping number two is day trading number three is news trading number four is swing or momentum trading number five is trend trading number six is retracement trading number seven is um pin bar and inside bar trading strategy and number eight is break out trading strategy okay now the concept of trading strategy is what i want to look at today now the concept of trading strategy is based on one you need to select a market and select a currency pair now you see one of those things that has made you as a trader to experience consistent failure in the market or consistent losses in the market is because you jump on every market strength and also you jump on every currency pairs now there are there are some professional traders who make profits in the market profitable tradersyou'll be surprised that i know a trader who does not trade any other currency except euro usd except euro usd it only trades euro usd and it makes a lot from trading only euro usd right now this is a trader that has selected a market and selected a currency pair for himself i also know a trader friend who trades nothing but gold he trades nothing but gold he only trades gold and i have some other traders who trade  dollar pairs you know currency paid that has the dollar in them that's it you mentioned them the euro usd the usd jpy the usd chf the usd card you know the the the pounds the usd those anything that asks usd is what they trade and some only trades all currency pairs that has the australian dollar now this is because when you when you develop when you keep engaging with a particular currency and a particular market you develop the kind of understanding of how that particular currency will react to a specific news or that particular currency will react when it gets to a particular level because it has always done that before now so this helps you to get more uh understanding and they understand the reactions of of the market right now that's why i want to teach you the concept of trading strategy so you have to select the kind of market you want to trade in you also want to select the currency pairs right so you might not want to say okay um i'm only going to trade euro usd not necessarily you might want to just say you might want to trade just five coins sorry excuse me please five currency pairs or two currency pairs or three currency pairs right now you might just want to trade um one currency pair you know so what i'm saying is this you have to select what type of currency pair do you want to trade right now having done that you want to select what type of pattern are you looking for in the market right selection of pattern for your analysis what pattern do you look for now there is there is there is a particular tree that i read about that he only looks for one one  pattern one candlestick pattern and that one candlestick pattern is engulfing can do engulfing candle and he looks for that engulfing can do on higher time frames on higher time frames like the daily the weekly the monthly right now when he spots that engulfing can do right if it is a bearish engulfing candle then it must also be at a particular level of the market right it must obey a particular market structure so if it's at the demand zone right and it is at the demand zone and then there is  a a bullish engulfing candle then is he set for a buy then if the market is at a supply zone and there's a bearish engulfing candle is set for a sale now these are the things he spots in the market right and you know a greater percentage of time he always wins right let's say 60 to 40 right he always wins now so as a trader now you need to have a pattern you look for in the market like one of the patterns i enjoy the most is  this triangular pattern right descending triangle and ascending triangle and it obeys the particular level i expected to see i know okay fine when i see a descending triangle at a particular level of the market and i know i'm selling when i start ascending a triangle at a particular level of the market i know i'm buying right so these are trading strategies how you develop a trading strategy number one i said you select a market and a currency pair number two i said you select a pattern