Forex Traders Home(All the best forex trading strategies)

Welcome to forex traders home, a place where all real forex traders can find solution to any of their problems. Two heads are better than one. let combine ideas so that we all can reap from the enormous benefits in forex trading. The truth remains that the only place one is assured of making good and quick money is forex trade. Let us share our strategies and ideas. Forex remains the best option, don't give up. Let me start with a 95% accurate forex trading strategy know as pivot point.

If you are new to forex then you won't  know what trading with pivot point really means and how profitable it is in forex trading. Trading with pivot point is trading with resistance and support. It's only a novice that will trade without resistance and support. Forex will be so disastrous and boring if do not trade with resistance and support. for me, trading with pivot is the best trading style. It is very easy to trade with resistance and support.

Simply put, resistance is that point which tells you to sell and support tells you that you have to buy. When trade approaches resistance you think of selling but when it's moving towards support you think of buying. you need about 7 lines to properly trade with resistance and support. 3 of the lines are known as resistance lines and they are denoted by R1, R2 and R3. The other 3 lines are know as support lines denoted by S1, S2 and S3. the last line is know as the pivot line denoted by P. the pivot line P separates the 3 resistance lines from the 3 support lines. i.e the pivot is the middle line. Lines R1, R2 and R3 are above Line P. while Lines S1, S2 and S3 are below line P.

This is how pivot point works. As the trade moves upward to line P and it crosses it. It will continue to move in that upward direction on till it approaches R1(you are expected to buy when another candle forms above line P) you take your profit when it is a little beat close to R1. You have to collect your profit because As it gets closer to R1 you can no longer tell where it will go from there.i.e if it's going to continue moving upward or if it will reverse. So you have to close your position and wait for another candle to form. If another candle forms above R1 you can then buy again. when it get close to R2 you collect your profit. you then wait again and watch the direction it will go to. Apply the same technique when the trade moves towards the downward side. i.e is toward support. You can see it is very easy to trade with resistance and support.

This is how to calculate for R1, R2, R3, P, S1, S2 and S3. Note that you have to use daily pivot. This is what you have to do. first, change your chart to daily. Point your cursor to the last candle before the candle of that day. It is going to show you open, high, low and close. You only need high(H), low(L) and close(C) to calculate for all the parameters needed.

P = (H + L + C)/3

R1 = 2P- L

S1 = 2P-H

R2 = P + (R1 - S1)

S2 = P -  (R1 - S1)

R3 and S3 later. Always trade with resistance and support. Don,t be too greedy and always be discipline. then you will sure enjoy forex trading. See you next time.