Forex Megadroid Trading – My Successful FOREX Trading Strategy and Techniques
I have recently started FOREX trading and experimented with a variety of different trading techniques and styles. Some techniques failed but some continue to be a success. In my experience, many traders do not share their trading techniques because for you to use their techniques and make money, somebody, possibly them, has to lose money. However, I would like to share some techniques that have worked for me, in hopes that you will learn from my experience.
As a new trader, I started with a demo account and used basic techniques like technical analysis and other fundamentals. The technical analysis was an easier method for me because it was straightforward; it required looking at charts. Other fundamentals that I used included using such indicators as MACD, Fibonacci, and RSI to help me evaluate the market and predict price movement. These techniques worked and my demo account was a success. However, when I opened a live account, I was afraid to lose my own money. I was overly stressed and didn’t know where to turn.
I had heard about how other traders were using Forex signal providers to relieve their stress in trading and spend less time. I experimented with quite a few Forex signal providers and found a reliable FOREX charting software package that provided superb signals. These signals worked, if I was obedient enough to follow the signals, whether I approved of each signal or not. I soon learned that the company had a winning streak for the past couple of years, unlike myself.
A signal provider was such a great fit for me that soon, I had a steady flow of money coming from the FOREX market and I opened another account. I realized that the market changed on simple speculation and that this speculation was based on news events, such as retail sales. Another interesting fact that I learned was that the market spiked at the exact moment that major news events were released. So, I started to trade on these news events.
The technique was to simply wait until the exact moment the news was due out. Then, I conducted a trade when the market increased by 7 pips from its current price. Be sure to set a stop-loss at 10 pips above or below the current price. The trick to this method is executing the trade at the right time and disciplining yourself to keep your stop-loss very tight, such as making it no more than 10 pips.
This technique has worked successfully for me for almost six months. The trick is to execute the trade the exact moment before the news event is released. If you make the trade too early or too late, you could fail to predict the direction of the market and lose money. However, when you are right, your winning trades increase significantly, gaining around 30-50 pips with the security of a loss of only 10 pips.
So, be sure to learn the fundamentals of trading before you begin a live trading account. Then, find a good FOREX signal provider and watch the news to predict the exact moment to execute your trade. Then, be sure to execute that trade only about 15 seconds before the news hits. If you can follow these techniques, your income will increase significantly, as mine did.
