Phil De Aquino says:. Nial Fuller on Linked In. Most Forex traders change Forex trading strategies like they change their underwear. Trading platform opens a dayily candle midnight base on their respective countrys timezone. If your Forex trading is not going the way you want it to and you feel overwhelmed by the amount of market data bombarding your brain every time you sit down to analyze the markets, you probably need to readjust your trading strategy so that your primary focus is on the daily charts. Notify me of follow-up comments by email. Now look at the chart below.
In Forex, we have many variations of lot sizes we can trade so while the protective stop in pips may be large, it can still be a small percentage of your risk capital. We all know that a market will trend and consolidate. It will repeat this over and over again. An uptrend will eventually turn into a downtrend and the opposite is also true.
In between a full blown trend change, we will get corrective moves and that is what this simple daily chart trading strategy wants to capitalize on. We want to see price meet up with one daily chart forex trading our Fibonacci levels and confirm with our stochastic oscillator. The rules are quite simple and this is a pretty easy Forex strategy that you should be able to replicate. Just follow the trading instructions listed below.
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Why Trading The Daily Charts Will Improve Your Trading Results » Learn To Trade
Forex trading strategy #17 (Trading Off the Daily Chart) Submitted by User on March 23, 2012 - Submitted by Adam.
The 'Holy Grail' Of Forex Trading Strategies Is To Use The Daily Chart Timeframe. Let’s face it, 95% of you reading this are probably not consistently.
The first tip for trading a daily chart is finding the trend! One of the benefits of trading the daily chart lies in the long drawn out moves of the Forex market.