Are There Any Simple Forex Strategies that Work? – Simple Forex

September 7, 2010 by  
Filed under Forex Trading Strategies

When you are new to the forex day trading market, you will likely be told that you should learn in-depth technical anaylsis if you plan to have any success with your trading. Perhaps you have visitedforums online or bought recommended books on  forex strategies. You have heard that only 5% of forex traders are successful, and you still think that you can be one of the successful ones. 

As you start learning, all  the technica jargon becomes like a foreign language.You think maybe you need a degree in calculus or statistics to understand it all. You question, “Are there any simple forex strategies that work? “  Intuitively you know that trading forex does not have to be as complicated as it sounds in the “textbook” analytical trading courses. You just want to find some easy strategies explained in simple terms, so you can start applying  them and profiting from them right away! 

If you have had these thoughts, I can certainly relate. I considered the same questions, when I was only just about 3  into my own trading experience. So what is the answer? Are there any simple forex strategies that actually work? Yes, absolutely.   In fact, an effective forex strategy involves just 4 things.

1. Determining when to enter the market.

2. Determining where to set your stop loss.

3. Determining when to exit the market.

4. The parameters set for 1, 2, and 3 above must return a profit over time!

A good forex strategy will use some level of analysis to make the above decisions about how to trade. That’s it. It does not have to be considering 10 different technical indicators. Sometimes the analysis can be based simply on price action patterns. And in fact, price action trading methods are some of the most simple strategies and the most effective.

 

Have you discovered the forex strategies that are BEST for you? Want to learn more about this simplified breakout strategy? Visit Ann Pevey’s site http://www.fxstrategyhub.com for information on easy-to-understand and simple to apply forex strategies, worldwide forex news, free forex training videos and more – all about FOREX.

Have you discovered the forex strategies that are BEST for you? Want to learn more about this simplified breakout strategy? Visit Ann Pevey’s site http://www.fxstrategyhub.com for information on easy-to-understand and simple to apply forex strategies, worldwide forex news, free forex training videos and more – all about FOREX.

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One Response to “Are There Any Simple Forex Strategies that Work? – Simple Forex”

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  1. stanley says:

    maniacs@seeds.nurses” rel=”nofollow”>.…

    good info!…



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