Just pick the best trending pair at the current time and simply follow the trend! Please know that the strength of a currency will affect other currencies,either appreciates as well or even weaker, and vice versa. This Elliott Waves lives on indicator gives 3 signals in 3 colors:
The trend reliability is determined by the "Trend Drawdown" - a method that uses no indicators, but pure price action. This method is explained in the ebook you will get in the subscription. Which configuration do I need? Does it work on mobile devices? Yes, it has been tested on several mobile devices and browsers.
I am very impressed with such a simple and effective approach. I am not a tech guy and I am amazed how it works online without anything to install I just log in two times a day and check for any interesting pairs.
I am also interested in pattern recognition, I haven't tried it yet, but it looks amazing! Another one that gives back much more than he receives. The real value for such a low price is rare in the forex industry. Do you think that to dramatically improve your success rate you have to read tons of thick books, buy expensive software and spend countless hours of learning more about Forex?
Just pick the best trending pair at the current time and simply follow the trend! You need to know "how well" the market is trending to avoid very short-term trends.
STOP hunting the market for every potential trade. Pick only the best trending pairs and time frames and DO NOT take any trading signals in the choppy market unless you know exactly what you are doing.
Successful traders keep it simple and this is the way how the pros made fortunes in the markets - by trading less and making more. To increase the profitability of any system or robot you are currently using, check out this easy and powerful ultimate solution: The primary plus of the company is its dynamics, as InstaForex launches new up-to-date companies. This mode is recommended for every type of trader. Find a currency pair that has a red snake.
Wait for the blue dot to appear, which will determine the entry buy signal. Stop loss order should be placed in the technically best place: If you are an experienced trader and you like smaller but more secure profits, you can use a simple risk to reward ratios. The stop loss for this transaction was around 60pips the last swing low. You can set a take profit order for 60 pips which gives risk to reward 1: Before trading, always make sure that the market does not expect any important data.
Always try to trade on major sessions when the volatility is greatest. Try to take into account currencies which are the strongest and which are the weakest. Currencies are in constant motion and their indications can change.