2nd, and a 3rd forex pullback strategy-risk strategy, scroll down to bottom of the page! The forex trading technique below is simplyawesome.
If you are able to look at a chart and identify when the market is trending, then you can make a bundle using the below technique. If we had to pick one single trading technique in the world, this would be the one! Make sure to use proper position sizing and money management with this one and you will encounter nothing but success! 1 – To keep things simple, let’s assume there is no spread. Open a position in any direction you like. A few seconds after placing your Buy order, place a Sell Stop order for 0. 2 – If the TP at 1.
9860 is not reached, and the price goes down and reaches the SL or TP at 1. 3 – But if the TP and SL at 1. Buy Stop order in place at 1. 9830 in anticipation of a rise. 4 – If the price goes up and hits the SL or TP at 1. 9860, then you also have a profit of 30 pips!
5 – If the price goes down again without reaching any TP, then continue anticipating with a Sell Stop order for 1. 2 lots, then a Buy Stop order for 2. 4 lots, etc Continue this sequence until you make a profit. Usually the spread is only around 2 pips. The tighter the spread, the more likely you will win.