In the forex
trading all traders trade forex with proper trade strategies. So the question in
come how do you build on trading strategies? Well thousand and thousand forex
strategies floating on the internet. You probably watch these. Now it need to
justify how these strategies works along with mind set. Mind set because all
trader physcology is not same and not same their trading goal. Let us discuss
the strategy point a to z.
Do you
familiar market nature or structure? You may guess it is chart patterns. No
market natures are 3.Bullish-bearish-consolidation/sideway.
You may be
watch how a bullish trade run or how it behave from start to stop trending. Do
you guess some clue there? If so you are intelligent enough.
If a bullish
trending obviously it pull back or retrace this is market nature.
If market
price is consolidation then it will break the consolidation level this is
market nature.
Now you
familiar with break or breakout price level.
So breakout
can be your trading strategy. And breakout strategy is vary. They may be a
candle to candle price breakout, or consolidation price level breakout, or
chart patterns breakout, or support and resistance price level breakout, etc.
Now you
again learn support and resistance level. This may be your trading strategy. Within the support
and resistance are you can be trade quite safe depending your take profit and
stop loss and risk-reward ratio.
What is
support and resistance and identify it?
What is a
breakout ?
By answering
this question you can able to suit a trading strategy.
