To trade bitcoins in Forex markets must required a long strategy to consist values for wealth. So, Finding a perfect bitcoin or Forex trading strategy is of great importance for every single trader.
Use different way to test it out and see that your strategy is performing well in the market. Some times, some strategies do fail, but what is important is that you continue to learn and explore.
Many trading alogarithms are available into the market. It looks like complicated and confusing, especially for beginners.
When you are reading the chart in a proper manner then, you might feel lost and unclear as to what to do next and how to proceed. But Don’t worry in this condition. You are not the only one who goes through this.
There are simpler approaches to trading and we are going to explore one of them right now.
Trade without indicators or Charts:
We are very honest for this solution because many traders enjoy looking at the charts and search for indicators. But sometimes they win the race but next time they are paying a lot for this and then after they loosing money and at last they stopped.
There is absolutely nothing wrong with that. But a constant search for that perfect indicator might leave you tired and discouraged. If that is the case, you might want to take a step back and try a different approach to trading.
Forex strategy without indicators might sound more risky than 1 minute Forex scalping strategy that is proven to be one of the most successful. The truth is that type of trading method might be ideal for some traders, especially for the ones that trade with the best ECN Forex brokers, just because it is simple and not complicated at all. In my personal opinion, every trader should learn how to trade without indicators at some point. Mastering this method will help you learn more about trading Forex.
You will be focusing on the present movement, comparing it to the past performance, and making decisions on the spot.
It does sound easy, doesn’t it? Well, it is most of the time.
Guidelines for how to set up Forex strategy or trading without indicators:-
Clean up your charts. Remove all indicators you possibly can from them.
Draw trend lines on your weekly timesheet.
Do the same with your daily and hourly timesheet.
You need to keep your eyes open and monitor the charts.
Check few things into the chart is:
Current value of stock or shares,
Trending direction is heading,
The past performance and how it relates to the current standing,
Read chart according this method and without any indicators, it will start making sense to you. It can be a game changer for your trading style.
Best Forex strategy without indicators is usually the least complicated one, so remember to keep it simple.