Currency trading in the Forex market is an easy business if applied by the proper rules. The biggest mistake that most common traders do is that they are not using proper money management. Here is the best Forex trading strategy that I am sharing with you and some rules that you can easily follow to earn a lot (LOT) from the Forex market.
Forex Trading Tips for The Bollinger Bands Strategy:
- Always risk 3% of your money per trade, Never risk more than 10% of total investment.
- Choose Your Broker that has less spread value for EURUSD.
- Always look for small profits, don’t go for bigger gains.
- Use this Scalping Forex Strategy with the Carry Trading Pairs, Carry Trading pairs are those Paris that contains a currency with low interest rate and with high volatility. EUR/USD, GBP/JPY and USD/JPY are good pairs to be used with this Scalping Forex Strategy.
- Analysis, Forecast and Money management are the key for success in this Scalping Forex Strategy.
- Take your time; there is no need to hurry to jump in the market. Wait for market to be really trendy and be sure of at least three indicators to give you best signal.
Now Let us look up the strategy that always works for me.
BOLLINGER BAND 1: PERIOD 50 DEVIATION: 2
BOLLINGER BAND 2: PERIOD 50 DEVIATION: 3
BOLLINGER BAND 3: PERIOD 50 DEVIATION: 4
RSI (6) – Stoch 14,3,3
Identify the Major Trend by looking at the Market Sentiment at investing.com or fxempire.com
In example care Trend is sell then SELL when RSI Stock are at up and price is touching at the Bollinger bands top.
Close the trade at the profit of 50 to 60 pips.
Here are some examples of the trade.
IDENTIFICATIONOF THE TREND AT FX-EMPIRE.COM
TREND IDENTIFICATION AT INVESTING.COM
Now Look at the Forex Trading System:
Another Example of The Trade:
Does this strategy help you to get profit? Please share me via comments.
Thanks & Happy Trading.