Simple Forex Strategy That Works For Beginners

Are you forex beginners?if you do, i believe you still finding a holy grail trading system that can make you rich quickly.

There is no holy grail in forex, what holy grail is your consistency. How you follow your
trading plan to make money with forex.

There are many ways to make profits with forex. This can be like, Elliot Wave trading, Fibonacci Retracement Strategy,
BBMA strategy, Support and resistance, Price Action and moving average.

simple forex strategy that works for beginners



In this article, the simple trading strategy is to set pending order with buy stop and sell stop in daily candlestick.

In each day, there will be a price movement, so what you need to do is to set pending order buy stop
and sell stop on each day.

Your target profits will be 20pips. Can you imagine that if you keep consistent in doing the simple system, for a week you can gain
up to 100pips.

100pips is it enough for you?

no need to know and understand market trending, no need to understand elliot wave and no need to know how to plot
the support and resistance zone.



Set Buy Stop and Sell Stop to Yesterday candlestick

Buy

1. Set buy stop above 3pips high of yesterday daily candlestick.
2. Set your stop loss 50pips
3. Set your take profits target 20pips

Sell

1. Set Sell Stop below 3pips low of yesterday daily candlestick
2. Set your stop loss 50pips
3. Set your take profits target 20pips



Set Pending Order

Buy Stop and Sell Stop set 3pips from high and low yesterday candlestick.


simple forex strategy that works for beginners



Set Target Profits

Set pending order buy and sell with 20pips for the target profits.


simple forex strategy that works for beginners



Set Stop Loss

Set Stop Loss Maximum 50pips from buy stop and sell stop.


simple forex strategy that works for beginners




Related Article : How to put pending order






Entry Setup

The entry setup, buy and sell stop pending order with 20pips target profits and 50pips stop loss.


simple forex strategy that works for beginners


What you need to do with this simple trading strategy is to put entry order of buy stop and sell stop everyday. When the target is hit, you can close the chart.

You  have to be consistent in using the strategy, dont mix your trading account with various of trading strategy.


See How You Can Grow Your Forex Account with 20pips per day

Click the link to download the money management projection
excellsheet

money management excellsheet xls




pipsumo Traderfx

A forex trader who enjoy doing forex naked chart and make profit with forex expert advisor.Also enjoy to socialize with other forex trader in the world.