We would like to introduce these 3 popular trading strategies to you. It's simple to use and very profitable:
- Patience Strategy
When it comes to trading even small amounts your worst enemy is a hurry. When you are only at the beginning, you’ll wish you could invest more.
Let yourself train and accumulate necessary skills for the “big” trade. Do not rush to open as many deals as possible. Wait until the time is right. Be patient enough to follow your money management plan, blowing your account won’t help you.
- Price Action
Chart always tends to repeat itself. If in the past quotes didn’t fall down below some point, there is a high probability that it won’t happen again. That is called a Support line. You can see it yourself even without any graphic tools.
You can also detect the higher limit for the graph according to the history of it. If several times the higher level hasn’t been broken, it is a good sign that it won’t be broken this time as well.
- Candle pattern Bullish/Bearish Doji
Candles can sometimes create certain patterns indicating the trend reversal. Make sure to remember the following pattern and use it in your trading.
This pattern is created by the short candle or candle without a body with following change in trend direction. The Bullish Doji involves the short candle in the uptrend and the short candle in the downtrend with the Bearish Doji. That figure may be followed by long-shadowed red or green candle, but it shouldn’t mislead you - the trend is about to change.
If you set candle timeframe for 1 minute, it is better to trade up to 5 minutes only.
Sometimes the simplest way is the best one. Learn as many strategies as you can. Trade smart with Ayrex and do not miss the chance to profit!