Winning Forex Trading/Technique for Newbies and Pros (Part 4)

elkapons By elkapons, 15th Oct 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/36qb0ael/
Posted in Wikinut>Money>Forex Trading

Winning Forex Tradings for newbies and pros, learn the basics and step by step strategies from ZERO to HERO

The Trading Plan

As I said in Part 1 of this article KEEP IT SIMPLE. So here I will shows a simple trading plan that very profitable. Now you too can be profitable in forex trading even you are a newbie.

Examples:
-

Initial Capital = USD1000
Risk per trade = 1%
Reward = 1:1 to 1:3 if 1:1 return 1%, 1:2 return 2%, 1:3 return 3%

The Goals

1. Short Term Goals
Earn at least 1% of my capital per single trade for R:R 1:1.

2. Mid Term Goals
Earn at least 9% ROI of my initial capital for 10 trades. 9% return based on 1% rewards using compounding.

3. Long Term Goals
Earn at least 20% ROI of my initial capital for 20 trades. 20% return based on 1% rewards using compounding.

The Strategy

I will focus only on :-

Major Pairs; USDJPY, EURUSD, GBPUSD, USDCHF and AUDUSD.

Trading styles; Intraday Trading.

Indicators; Price Action, Support and Resistance zones.

The Analysis; Analyzing chart 1 to 2 hours before London market open.
1. Identify market trend; Bigger view on H4 and D1 Draw some trendlines and support and resistance zones.

2. Looking for Entry on H1; check for any retracements or reversals and looking for signal using price action on zones draw before.

3. Risks and Rewards; 1:1 to 1:3 depends on nearest zone from entry points

4. Lots; Risk/Pips = Lots size

FOLLOW ME closely for next articles. There will be more REVEALS and EXCITEMENTS, PROVES a NEWBIES that starts from ZERO can be a HERO.

Recommends Forex Brokers start now:-
Instaforex
Exness
Liteforex
FBS

Tags

Analysis, Audusd, Boe, Brokers, Currency, Ecb, Euro, Eurusd, Fed, Federal Reserve, Fomc, Forex, Forex Basics, Forex Broker, Forex Trading, Gbusd, Metatrader, Metatrader 4, Mt4, Nfp, Pips, Rates, Usd, Usdchf, Usdjpy

Meet the author

author avatar elkapons
Keep on learning everything, You'll get everything

http://www.wikinut.com/in/ufnm/

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