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Simple forex trading strategies for beginners.


      When it comes to Simple Forex trading strategies for beginners, the no-brainer is pin pointing. This is simply because it's a fairly obvious pattern, which makes it extremely easy to spot on a graph. It also is one of the easiest strategies to trade with.
     What we are looking at here is a Simple Forex trading strategy that uses resistance and support to your advantage. Let's say that you are using the candlestick chart and you notice that a long string of candle stick shapes is going up and down. This indicates a strong support or resistance level. When this type of pattern is formed, it generally means that there is some type of news or announcement coming out of the news source that is going to shake up the markets. Usually, this type of news will lead to either a major reversal or an over the counter (OTC) breakout strategy. The price of that currency usually goes up, forcing sellers to unload to try and cover, or they will dump even further and cause a new all time high.
     So if you're new to trading, and especially if you are a beginning trader, you should take advantage of this type of news. Of course, we have already discussed the no-brainer, which is pin bar trading strategies. However, if you're a technical analyst, you may need more than just pin bars to get this information. If you look back at history, you'll find that there is a certain pattern called the breakout, which is created when a currency reverses its trend. The price normally goes from above the resistance level to below it, creating a potential buyer's rally.
     Beginners should always use a stop-loss function when trading, since it will help you determine when you should exit a trade. Sometimes, a breakout can be accompanied by a large pullback, and you may not want to enter a trade at that time. You need to determine if a big pullback is justified by the price action. A good pin bar strategy will show you if the price action signals to enter a long, medium or short position. Sometimes, a trade may be profitable after it's hit the resistance, and it may be wise to hang in and wait for the price to reverse before entering the trade.
     One of the most common trading strategies for beginners is the DJpy (day trade strategy). The DJpy is simply a shortened version of the name "Day Trading". Here, you only trade currencies during specific times of the day. This is perfect for those who don't like to spend all day monitoring the computer screen, and for people who don't have a lot of cash to invest.
     The US Django (day trade strategy) uses technical indicators to indicate support as well as resistance levels. The DJpy shows you where the major trend lines are, and the US Django shows you where the major support and resistance levels are. Both the US Django is excellent for beginners because they offer reliable signals that aren't affected by minor news events. They will help you make money even when you're asleep!
     Another simple forex trading strategy for beginners is the Inside Bar Trading Strategy. The inside bar trading strategy is designed to be used when you know the major trend directions and the support and resistance levels. The inside bar trading strategy makes use of candlesticks indicate when it's time to get in or out of a trade. If you have the right training, then the inside bar strategy is probably your best bet. candlestick charting doesn't show a lot of human emotion so it can be hard to read. It's not easy to tell when a reversal is imminent.
     Another strategy that is perfect for new traders is the Bullish Pin Bar Strategy. This is a simple yet effective way for you to determine whether to go in or stay out of a trade. When you see a bullish pendant on a bar, this means it's time to get in, but a bearish pin bar suggests that it's better to stay out. This simple forex trading strategy for beginners is one of my favorites. The bullish pin bar trading strategy alerts you of potential reversals in a market and thus has a high success rate.

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