By Timothy Stevens
There are no rules that govern how you can go about your trading in Forex. The only limit to the quality and complexity of strategies is the traders' ingenuity; thus, the range of strategies in Forex trading begins with the most basic ones and continues to the highly intricate kinds. It is also true that most people are under the impression that the more complicated a strategy, the more effective it is, but that is not always the case. Experienced traders know for sure that simple trading techniques frequently snag the bigger pots, and what follows is the simplest yet very much effective way to make those investments generate some income.
To begin your Forex market adventure, choose either the EUR/USD or GBP/USD trade. Then choose two indicators, weighted MA and simple MA, preferably WMA 20 and MA 30. After that, all you have to do is to wait for the open price to go below the WMA 20 and MA 30, and for the price to go below the pivot point. When they do, that is the sell signal and the trade must be placed. This is a condition that does not frequently occur, but is absolutely sure to make you some bucks wealthier. On the other hand, the buy signal is when the price closes and opens higher than the two indicators, and is also beyond the pivot point.
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Perhaps the greatest drawback of this strategy is that it takes a lot of time since it capitalizes in prefect timing, but it is still definitely worth a try. Waiting is a virtue in Forex trading anyway.
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