Trend is a Friend

               What is the strategy to Win in Forex? A million dollar question but.... with a very simple answer. They say 'God lies in simple things' & so the success lies in simple things too according to me. 

First of all let us understand what is called as Winning in Forex. When you win more than 50% of times with a risk-to-reward ratio of 1:1 or more is winning in my opinion. Do remember, Losses are inevitable & we need to look at it as  opportunities to grow. Without losses, improvement is impossible. 

          In order to get consistent wins over time, one needs to have a Simple Trading system with Simple rules, tough discipline & few winning tips or rules. If you refer to my trading account snapshot above, you will find that SL is hit twice but TP level is hit nowhere. It is because you should never give away winning pips. If you want to know more about it then click here. Every trade is different and you need to be smart enough to decide whether to take profit before your preset target level or let the trade run. Do not cloud your charts with N number of indicators. It will cause more confusion rather than clearity. Most of the indicators contradict each other depending on situations and confuse you.  Always check the current trend at higher time frame and plan your entry at 30 min time frame. I generally analyse D1,H4,H1,M30 timeframes in same order to plan my entries. Another point to remember is to give the trade some space and time to move in your intended direction. I generally set my SL level 34-40 pips away. Do remember Money Management techniques while placing SL. 

            Take your time to understand how the market works, how the Price action moves & you will be all set to collect lot of pips. Happy trading...stay connected.