Sunday, 14 September 2014

What strategy work most? Can you tell me?

The question is very simple and most of the new traders always ask this kind of questions that what strategy work most and they want to know about that, I want to tell all the traders that there are several strategies available on internet but only a few are useful according to mind and mood of the traders, there are so many complex strategies, so a trader need to find out the easiest strategy that he can understand and practice accordingly. 

I love two kind of strategies that I mostly use in my tradings, one is the most common strategy that is just draw the lines on support and resistance and then start playing game, buy on support before break out and sell on resistance before break out, and if the market do break out then don't do trades and wait for the market to come back or move forward. 

Another strategy is to trade with pin bars and trend lines, when a pin bar formed then I start seeing the shadows of candles, and when I switch to higher time frames then I see that these time frames have a lot of pin bars, so I see the market movement, whether it is up to down or down to up, if it is up to down then I use high swing to low swing, and if the market is down to up then I usually use low swing to high, by using this pin bars and trend line, I see that market mostly doesn't break the trend lines and moves according to trend lines. 

These are only two strategies that I have discussed, but there are so many other strategies that I use time by time where they are needed, actually if these strategies are in your mind then you will be able to analyze the market better than any other normal trader. You will find out several opportunities of earning from forex market, and not only forex market, you can use them in metal and share markets too.