As a beginner in the forex market, you do not need anything complex while trading. Everything should be simple and straight forward always, till you have learnt the basics and are skilled enough to go ahead to the more complex ways of trading the forex market. Here are some of the simplest most reliable trading strategies anyone can start with.
1. BOLLY BAND BOUNCE TRADE:
A lot of times, traders come in contact with ranging market; which by the way has always been a good opportunity to make money off the forex market, but that is if you know the right strategy to apply. The bolly band bounce strategy works well in a ranging market. (FYI, a ranging market is one whose financial instrument makes the same high and lows within a specified period).
2. THE BLADE RUNNER REVERSAL:
This is a simple trend following strategy that effectively picks entries from situations where the trend changes in a reverse, and the price begins to trade on the other side of the EMA. When the market is trending, it is going in one direction and is bound to change in favor of the opposing direction. This gives the trader an idea of when to stop following a particular trend.
3. THE BLADERUNNER TRADE:
Like the blade runner reversal, this strategy simply follows the trend. It is a good EMA cross over strategy that is suitable across all time frames and currency pairs. Its basic function is to pick breakout from a continuation, and trade the retest. This is a good one for beginner that has the intention to diversify later on in the forex market.
4. THE POP AND STOP STRATEGY:
This is one of the easiest strategies in the forex market. The forex market is full of uncertainties and traders want to something that will keep them from suffering inevitable losses after a quick reverse. The pop and loss strategy does that so well. It tells the trader whether or not price will continue in a particular direction of a certain breakout.
There are some of the simplest strategies traders can use to trade the forex market. Note that what worked for A may not work for B. so beware to take it on a personal level.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.