Are you looking for a simple and profitable Forex trading strategy? If so, you’re in luck! In this article, we’ll share a very simple and profitable one-hour or more Forex trading strategy that you can use to start making money in the Forex market. This strategy is easy to learn and implement, and it can be used by traders of all levels of experience.
Very Simple And Profitable 1hr Or More Forex Trading Strategy Videos
The Basics of the Strategy
This strategy is based on the concept of trading breakouts. A breakout occurs when the price of a currency pair moves outside of a defined range. When this happens, it can often signal that a new trend is starting. The breakout trading strategy involves identifying these breakouts and then trading in the direction of the breakout.
To identify breakouts, you’ll need to define a range for the currency pair you’re trading. This range can be defined using support and resistance levels, Bollinger Bands, or any other technical indicator that you’re comfortable with. Once you’ve defined the range, you’ll need to wait for the price to break out of it.
Trading the Strategy
Once the price has broken out of the range, you’ll need to enter a trade in the direction of the breakout. If the price has broken out above the range, you’ll need to enter a buy trade. If the price has broken out below the range, you’ll need to enter a sell trade.
Once you’ve entered a trade, you’ll need to manage your risk by setting a stop loss and take profit order. Your stop loss should be placed below the breakout point for buy trades and above the breakout point for sell trades. Your take profit order should be placed at a predetermined profit target.
Tips for Success
- Use a demo account to practice the strategy before you trade with real money.
- Only trade with money that you can afford to lose.
- Manage your risk by setting stop loss and take profit orders.
- Be patient and wait for the right opportunities to trade.
- Don’t chase losses.
By following these tips, you can increase your chances of success when trading the one-hour or more Forex trading strategy.
Conclusion
The very simple and profitable one-hour or more Forex trading strategy is a great way to get started in the Forex market. This strategy is easy to learn and implement, and it can be used by traders of all levels of experience. By following the tips in this article, you can increase your chances of success when trading this strategy.
Are you interested in learning more about the Forex market? If so, be sure to check out our other articles on the topic.
