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How I Made 100 Pips a Day in a Flat Forex Market
by Gopal Rao Freelancer For more than two weeks market has not shown any real sense, you can not trade or you run the risk of ruining your own if you are frustrated. There is a strategy for this market and is called range trading.When a currency pair moves in a narrow range without a trend called consolidation and you would have to use a specific currency strategy called range trading. So let's use the example of currency pair Euro / USD. Let's see euro gain strength for a couple of hours, but then the couple reached a resistance and change course. Then you can see the dollar gaining strength until it reaches a level of support and arm changes direction. It is so hard to read is why this condition eats profits for retail investors. Move cross media overs do not work in this type of market conditions.
How can you negotiate in a period of consolidation?
A range trading strategy is a Forex trading strategy that can be applied to take advantage of periods of market consolidation. First, it identifies the extent that is currently taking place. For this, the horizontal lines drawn in the graphics on the top and bottom of the range. Below is the total number of pips in this range, it is best to use a range that is at least 100 pips. Once you have found a good range to use then put in a period of 14 RSI (Relative Strength Index) in his letters to help find out if the price is oversold or overbought. The RSI is a commit only to add some insurance that this will be a winning trade. So the next step is to look at the price of going to the resistance or support level of the current range, reached that point and back.
I would do this in any time frame chart, provided it is not less than 15 min chart. The longer the time the stronger the pattern and the best chance of a winning trade. When the price starts to reverse after this, into the direction of the price in the next candle opening 15 minutes. This way you know the price really did turn and you will not be defeated by a false start. Also make sure that the RSI has been reversed and is below 70. when you set your stop comes in 5-7 pips above or below the horizontal lines you drew on your cards. You will need to take profit 15 pips from the next line addresses. That's it, you just learn to trade profitably applied scope of their forex trading strategies.
I applied this strategy to my recent trading on the currency pair EUR / USD this week and was able to have 2 pip profit one hundred days. Not bad for a flat trend less market. I also use graphics software that has specific additional signals that increase the likelihood that trade is profitable.
This strategy helped me more to increase my profits in currency trading to be able to perform operations in a slow period. My friends get benefited and increase the profitability of their operations. This strategy can also help if you follow the rules and be patient. The Forex market is a great opportunity for those who can govern themselves.
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About Gopal Rao 
Freelancer
23 connections, 0 recommendations, 64 honor points.Joined APSense since, December 11th, 2012, From New Delhi, India.
Created on Dec 31st 1969 18:00. Viewed 0 times.
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