It is quite an uphill task finding a forex strategy to work with considering that there are many of them with different concepts. With that in mind, here are some good examples of good forex trading systems that can get any trader started on the right path.
1. LONDON HAMMER TRADE:
This is specifically created for a trade session with high volatility like the London trade session. This feature presents some unique trade opportunities which were put into consideration when creating the London hammer trade forex trading system. This system is based on any of the following two candle sticks; the hammer or the rejection bar. This trade system may be unique for the London trade sessions, but it can also be used at other times so long as it is obvious that the price of the security in question is likely to be taking off strongly in one direction, and reversing from an area of support and resistance. Considering the high level of volatility that comes with the market environment where this system is applied, traders are advised to apply caution. This is because there is as much risk as there is the opportunity to make profits.
2. HYBRID SCALPING SYSTEM:
This system is well known among traders in the forex market for the good reports made about in. it is free, makes use of the Ichimoku kinkyu Hyo charts, and works with combined indicators installed on the MT4 trading platform for better results. The indicators used in this system are from forex systems like Hopwood 10.2, and the TMS (trading made simple) systems. It has a high level of profitability; as high as 46.5% gain in one month. The maximum winning trade in pips was equal to 156, that is at 7.80%. It manages risk really well, with an average loss in pip of about 9.10.
3. 4H SCALPING METHOD:
This is another good example of forex trading systems that actually works. Note that this system deals with just the GBP/JPY, it works on a four-hour time frame, and no indicators are used. The entry rue for this system is to use the swing highs and lows as scalp lines, and enter on the break just above or below the levels. Traders will have to go through this system properly studying it to understand what it is all about. It is not so technical to leave a newbie hanging since it does not make use of indicators.
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