Best forex stategy for beginner and free. Hedging your position.
Great course, would love to see more of fundament of the strategy
I don't really used this technique, but it's efficient. I will try to do more video about it, how to trace and find major support/resistance. Also how to identify the number of pips, it's not always 300 pips/100pips, you need to deal with the range movement. But the ratio it's always 3/1 win/lost ratio.
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Hi, I am a professional Forex trader and also a Forex educator and mentor. Iear a lot of beginner trader ask me about what is the best technique.
Honestly for myself, I try to put all the odds of trading on my side, so Idon't trade according to one pattern or technique that can be used on differenttimeframe.
Forex trading, it's not easy and every detail could effect your trade. Ifyou don't do things the right way or forget something, a winning trade canbecome a losing trade.
People try to find the perfect technique with high efficiency close to 100%.It doesn't exits, I read a report that say that in average professional tradershave a efficiency of 60%. That is enough to make a lot of money. There is notonly the efficiency that is important, the win versus loss ratio it's probablymore important. Most profitable or those who have a high win versus loss ratio.You could have a 40% efficiency, but you have a 3/1 win/lost ratio. What that,smean.
• You will win 4 out of 10 trades with 300$ each trade. For a total of 1200$profit
• You will loses 6 out of 10 trades with 100$ each trade. For a total of -600$.
• You see your in profit of 600$ with a efficiency of 40%
Just below a share a technique that is based on hedging. It's free and ifyou want to start trading that is a good technique to start with.
For myself I don't used hedging, I know I to read the market and takeadvantage of it. But for beginner there is a lot to learn to get to that point,so that technique can help you start trading and have a good win/lost ratio.
For myself and my student my approach is different than regular technique orpattern.
It's in 3 steps:
1. Identify clear trend on all cross currency pais (26 pairs)
2. Focus on the one whit clear trend and identify a good level of entry
3. When the level of entry is reach wait for a pattern to form to confirmthe direction.