Simple Forex strategy to earn with less risk

May be you already know this, may be not, but this seem to work more than 99 percent all the times.

Main logic behind this is wait for the correct moment and study the current status well before go in to a trade. There’s a famous saying in Forex trading ‘don’t be a machine gunner, be a sniper’, this quote match very well to Forex trading.

Please watch below video to understand it with live charts. I’ll do a brief explanation how it works here.

There are 3 steps to check before go in to a trade.

1.       Check the summary of the Forex charts.

Here you should refer online supporting websites to get an idea to confirm your final decision.

Mainly simple Google search will bring most suitable and famous websites to refer. In this video we use investing.com and dailyfx.com websites. Investing.com website has a table with a summary of the trends in timely charts. This chart gives a basic idea of how the trend of the Forex charts. Logic of this strategy is if the all the times or mainly the hourly, daily and half hourly charts gives a one single trend we can assume that the main trend is the particular trend. In a simple sentence, if daily, hourly and half hourly charts show a sell trend we should assume that the average or the common trend is Sell.

2.       Read the comments of the traders

Find a forum where people discuss about the current trends or trades. Reason is these people do this thing very often and they discuss about the latest news which will affect the Forex trends. But simply do not go in to decisions on one particular trader.

3.       Read chart’s Support and Resistant lines

With the idea of above two sources when you read the live chart you will be able to understand the live trend. Try to read the support lines and resistant lines of the chart first. Now for an example if the above two sources gives you an idea that the current trend is ‘Selling’, wait for a resistant line, one of the maximum points of the chart in the one minute chart. And when the chart comes to the maximum point it’s better to open a sell trade. This trade is secured with the hourly trend and daily trend that’s means at least within an hour or two you’ll make profits or instantly.

Please note that Forex is predictable, but there may be situations that no one will ever expect to happen, trade with care.