Learning forex trading is not as difficult as many people make it seem. That’s because with the right information and forex strategies, you can trade successfully regardless of your skill set or level. In this article, we will be looking at some forex trading strategies that you can easily learn without any stress whatsoever. All it takes is spending time to learn them and master them.
Please note that one of the reasons many novice forex traders do not make any headway in their forex trading is because they are often scattered and jumping from one strategy to another without really developing the required level of expertise. If you can sit down and focus with the following forex strategies, you’ll do really well.
200 Exponential Moving Average (EMA)
Known as one of the very popular trading strategies used by both pros and novices, the 200 EMA is quite easy to understand and can be implemented within minutes after learning it in a favourable market. The general idea behind it is the effect of such high indicators on the psychology of the market. Once the market hivers around such high indicator, it is generally seen as the right environment to trade successfully. Sadly, people still lose money on their trades during these periods because they often trade against the market trends or trade the wrong currency pairs.
To effectively use the 200 EMA forex strategy you need to create a three different charts for 3 timelines. These timelines are 15 minutes, one hour and four hour. Then take a critical look at all nine currency pairs. For even more emphasis, note the points at which you can enter and exit trades by critically applying the fundamental trading principles of buying the dips in an uptrend and selling the rallies in a downtrend. The good thing about this trading strategy is that you can easily do it several times a day and it only takes a few minutes each time.
Now, do not underestimate the potency of this forex trading strategy. It is both extremely powerful and potent. In fact, if you choose, this is a method that you can use for a long time to consistently trade successfully and with little or no hassle. The markets are basically the same fundamentally when you assess them. To even make sure of the strategy is set in stone and you an repeatedly make some serious money by applying the same strategy, you should get an expert advisor and do a comparison spanning 4-6 years ago.
Once you see and understand the trends and movements over the years, you can expect to see the same results sometime in the year. Take note of all the results you get and then apply them when you see similar trends showing up.