Today, I want to share some of my stories about the best forex strategy. Sometimes, the most simple way can bring you great success. That’s the main idea of my story today. Some forex trading strategies are not complicated at all. You just need to find the hole in the market and then take advantage of it. The strategies I’m sharing here are just the case. They are just simply making orders and take profit.
I discovered this strategy five years ago when I was still using a virtual account to sell forex signals at Exness. At one point I held the number one position there, but often in the top 30 in the world and often occupied the No. 1 position compared to traders from Vietnam. On that race, I noticed a Swiss "friend" (also in the top 30) with a very simple but extremely effective trading strategy.
Goods traded by Swiss "friend" only EURCHF pair (CHF is the Swiss franc). His trading strategy was as simple as that: As long as the price went up, he sold, and if the price kept rising, he kept selling orders; whenever the price is low, it is a buy, if the price keeps falling, it will buy again; if you win a few pips or a few dozen pips, close a profit; No need to set a Stop loss!
Don't think he's stupid. If you do that to other currency pairs or commodities, you're out of breath! Take a look at the historical history of EURCHF pairs in the past:
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Before January 15, 2015, the Swiss National Bank (SNB), the policy of applying the weak CHF and pegging the exchange rate, had almost no change in the CHF compared to the USD and EUR, especially against the dong. EUR. Remember, Switzerland is also in the European economic region so there are many similarities in economic fluctuations. The volatility of the EURCHF pair is usually within the range of 100 pips. In some years, the highest fluctuations were only a few hundred pips.
The strategy of using small orders and spreading them reduces the risk of market fluctuations, and profits from a few pips to a few dozen pips through fluctuations, his account has almost no orders. hole. It is important to be persistent. Persistently wait until the order is profitable to take profits. However, sometimes when assessing the market, he sees that the market will continue to go against the opposite direction for a longer period of time, so that he will not be too stubborn and willing to close all the loss orders to enter the new more profitable orders. .
Thanks to an unusual strategy like this, his account lasted for 3 years. On average, he had profits every month. But on January 15, 2015, the Black Swan event, his account went 0. This unusual strategy is pretty risky. If you want to apply it, don’t put all your money in it. Keep a larger part for safer strategies.
According to my view, he should be in the list of successful forex traders. His traded instrument is only the EURCHF pair. Different from the Swiss friend above, this trader uses the Bollinger Bands indicator to determine entry / exit points, and that is the only indicator he uses. As for the use of the coefficients for his Bollinger Bands indicator, I would like not to disclose them. Another difference compared to the Swiss "friend" is that he always puts stop loss and take profit orders at a very short level but enters orders with a huge volume, only one command and then out, not spread orders. It could be called forex scalping strategies. How many pips and profits are my stop loss and permission to not disclose. There is a common point between this younger brother and the Swiss "friend" trader above, both of whom only play EURCHF pairs and take advantage of the volatile feature of this pair.
His trading results are way better than my Swiss friend thanks to this best forex trading strategy.
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After January 15, 2015, the EURCHF pair was more volatile. The strategy applied as two traders mentioned above will no longer be favorable. However, compared to other currency pairs, EURCHF remains relatively volatile. Please take a look at the EURCHF chart to verify and find out.
After January 15, 2015, I found that the Swiss "friend's" trading results had deteriorated, but my Thai brother seemed to be laughing evenly. Perhaps it is because he manages risk better by always placing a stop loss order. There may also be a trading platform available, so he changes the method more flexibly.
The stories above are just some examples of making profits from the characteristic of a specific market. For example, many forex traders used to take advantage of some of the error features in the forex brokers' holes to evaluate and earn hundreds of thousands of dollars (such as the IRONFX case ...) but now the brokers have overcome that weakness. My final thought is that the best forex strategy ever is when you know where to strike at that market.