Simple trading technique for Forex trader_ nifty trader_ Day trader
Now a day Common man can jump in to forex trading business with help of forex broker demo account. All you need is simple e-mail address, phone number and little bit English knowledge.
After started a forex demo account with forex broker, traders next big questing is how to trade fx (nothing but short form of FOREX). Is that any forex trading strategies available online to learn this currency trading by step by step with FREE OF COST? The answer is yes. This blog’s various post drive to answer for above these questions to new fx trades for currency exchange business.
If you are trading in forex or share market all you need to know is market is in which trend, for that you should identify forex chart providing websites or directly download mt4 software to your system. After you installed live forex chart in your system you need to familiarizes of the chart patens and can identify the market trend with the help of trading technique
ROOF AND FLOOR Technical trading system - Example trade
Any financial market there is a time for bull market as well as bear market. This roof and floor trading strategies can be used for any trend market that is the specialty of this trading method.
Forex or share market will reach up to some boundary level for some time that is the level where market is going to change its trend. In the below eurusd forex chart picture market moving on uptrend marked GREEN in color, after some time this trend hits the ROOF (R) level and taking correction at this level, over again it’s trying to go for further uptrend however market was oversold and market fundamental factor is not supporting to break this ROOF (R1) level then the market change to reverse trend direction.
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| Forex trading strategies roof level |
Traders trading strategies smart works starts here, once this bull market hits the roof level as market trader we should apply some horizontal line as shown In this picture and wait for the second or third correction point by this correction time we need to prepare for short sell with money management stop loss level. Once the sell trade making profit try to pick up your profits as per plan and apply tailoring stop loss to save earned profit at market uncertain conditions.
Let see how the floor level technique works - Trading example
Floor level will help to take position at down trend market. Below down trend picture shows market moving towards to down trend marked in RED color and it’s taking correction at floor level (F) marked in green color , this time again market giving chance to forex trader to take new long position or revers the old positions. However market fails to go below that floor level (F1) and start for uptrend and allowing buying new lots with stop loss.
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| FX TRADING method floor level |
By above mentioned entry and exit method ROOF and FLOOR trading technique give chance to forex players to trade in market.