Forex trading made easy for beginners | Forex Factory

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Forex trading made easy for beginners

  • #1
  • First Post: Edited 5:54am Jan 16, 2019 4:46am | Edited 5:54am
This is a simple trading strategy that can help beginners as well as old timers make consistent profit. The market is complex and should be approached with a very simple strategy like the one I am about to share.

Below is the Indicator Set up:

Download smooth oscillator here: https://www.mql5.com/en/market/product/26458
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Indicator setup.PNG Size: 131 KB
Click to Enlarge Name: Indicator chart example.PNG Size: 81 KB
  • #2
  • Jan 16, 2019 4:52am Jan 16, 2019 4:52am
Your chart should look like the image above.

By entry conditions:
1. Smooth Oscillator set for the Higher timeframe should be crossed bullish i.e the Blue line should be above the red line
2. A trend line drawn in the direction of the smooth oscillator momentum cross should touch at least 2 recent lows
3. Lastly, a buy order should be initiated when a bullish candle closes after price touches the recent trend line

SEE Image
Attached Image (click to enlarge)
Click to Enlarge Name: Smooth oscillator Buy entry.png Size: 55 KB
  • #3
  • Jan 16, 2019 5:03am Jan 16, 2019 5:03am
Sell entry conditions:

1. Smooth Oscillator set for the Higher timeframe should be crossed bearish i.e the Red line should be above the Blue line
2. A trend line drawn in the direction of the smooth oscillator momentum cross should touch at least 2 recent Highs
3. Lastly, a Sell order should be initiated when a bearish candle closes after price touches the recent trend line

See image below:
Attached Image (click to enlarge)
Click to Enlarge Name: Smooth oscillator Sell entry.png Size: 60 KB
  • #4
  • Edited 5:29am Jan 16, 2019 5:18am | Edited 5:29am
Exit conditions:

The exit for any strategy is equally as important as the entry. For this strategy, there are 3 recommended scenarios for exit;

Buy Exit:
1. The first BEARISH candle close after the smooth oscillator set to the current timeframe gets above the overbought region i.e 80 and above

OR

2. If there is bearish (Regular or hidden divergence) forming before the smooth oscillator set to the current timeframe gets to the 80 level

OR

3. If any candle closes the most recent swing low

The reverse is the exit for sell order

See Image below:
Attached Image (click to enlarge)
Click to Enlarge Name: exit.png Size: 47 KB
  • #5
  • Edited 5:46am Jan 16, 2019 5:26am | Edited 5:46am
I will be sharing real time entries and exits as often as I can.


The reason why this strategy works is because you get to cut your losses and keep you profit running for a bit. You would have a couple of losses but overall if traded religiously (especially on the H4 timeframe), the result is very impressive, more so because you will always be in sync with the trend.


Lastly, I recommend trading on H4 for the 28 major currency pairs using brokers that have the same H4 candle close as forexfactory.com
The recommended fixed lot is 0.01 for every $500. For traders with bigger accounts, I recommend lower (depending on your risk appetite)


Good luck.
  • #6
  • Jan 16, 2019 5:54am Jan 16, 2019 5:54am
Quoting profedu2001
I will be sharing real time entries and exits as often as I can. The reason why this strategy works is because you get to cut your losses and keep you profit running for a bit. You would have a couple of losses but overall if traded religiously (especially on the H4 timeframe), the result is very impressive, more so because you will always be in sync with the trend. Lastly, I recommend trading on H4 for the 28 major currency pairs using brokers that have the same H4 candle close as forexfactory.com The recommended fixed lot is 0.01 for every $500....
Interesting strategy, can you give us statement?

Have you thought about adding a one fimeframe higher to increase the probability of the move or all is well as it is?
  • #7
  • Jan 16, 2019 6:03am Jan 16, 2019 6:03am
Quoting Fred-IV
{quote} Interesting strategy, can you give us statement? Have you thought about adding a one fimeframe higher to increase the probability of the move or all is well as it is?
I am going to do better than statement, I am going to create and add an account on trade explorer to showcase realtime results.

Thanks for your comment
  • #8
  • Jan 16, 2019 6:07am Jan 16, 2019 6:07am
Quoting profedu2001
{quote} I am going to do better than statement, I am going to create add an account on trade explorer to showcase realtime results. Thanks for your comment
A good direction I think. Many pips to you.
  • #9
  • Last Post: Jan 16, 2019 8:27am Jan 16, 2019 8:27am
Quoting Fred-IV
{quote} A good direction I think. Many pips to you.
Thanks and many pips to you too
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