The profit is 120$ - easy example of my transaction!
argolla in Forex does not come easy to everyone the first time, only a properly chosen strategy, trading instruments and determine the risks You can earn a decent amount that would satisfy Your efforts.
I did this using two conditions:
finding the price relative to the moving average with a period of 13;
directions of the histogram of the "MACD" indicator.
In my case:
the price was above the moving average;
the previous four hour candle has already closed over the moving one;
"MACD" was directed up.
All the conditions for buying were met, there were no different signals, so I switched to the H1 timeframe and defined a zone for purchases there.
For purchases, it was necessary to rebound from the 55 level of the "RSI", or break it from the bottom-up. In my example, you can see the rebound from level 55. Moreover, there were two possibilities for opening a purchase. And, if someone at that time did not have time for the first case, the schedule provided a second chance.
After the purchase conditions were met on the second screen, I went to the third screen to find the entry point there.
At the first opportunity to enter the transaction, the "morning star" candle model was formed, which is a reversal candle model. Of course, I needed to find a foothold, which was the level of support.
The most beautiful situation for entering a purchase with a minimum stop loss of 10 PT. To be honest, this is where I opened, but after the price moved up, I set a breakeven and after the price rolled back, I was closed, so to speak, without profit.
After evaluating the situation and determining the second entry opportunity, I opened a new deal, again, from the level and with the same minimum stop loss of 10 PT. As you can see in the screenshot, the price flew high up, I closed the deal when the movement reached 50 PT.
But you could continue to hold the deal and the profit at the time of writing this article would already be 120pt. Volume 0.1 is $ 120.
This way you can gradually collect and multiply profitable transactions, and thus increase your Deposit.
You decide for yourself what strategy to follow when trading on the currency market. However, intensive Forex without Risk will help You:
determine the trend;
to determine entry point;
build resistance and support levels;
find profitable patterns on the chart;
manage capital and risk.