My fibonacci Forex trading strategy is intraday. There is less risk while trading my signals, because its based on the fibonacci system, and according to this, a currecny pair has to follow certain rules, in a buy or sell position, and has to hit a certain target.
I prefer 1 lot trades, beacuse this way u not risk much. The secret in forex trading is not to risk and gain much, but to risk less and gain for sure. Market conditions are unpredictable, and therefore its not good to risk much ur invested capital. We traders trade forex to earn money from the market and not loose our investment.
I give forex signals only when i see a "sure" trade, which should under normal market conditions hit the target point. this may be 3-5 signals/week maximum.
U will see hardly pending orders, coz market conditions change often mostly coz of news, expected and unexpected ones. Therefore i prefer signals which can be traded same time, and hit the target within hours.
The market can be well analysed through the weekly news we expect for the certain pairs, or with the fibonacci system. I do not like trade the big news, beacause the trend of a pair is uncertain, until the result of the news come out.I prefer trade the fibonacci Forex trading strategy, where a pair has to go anyway according to these rules.
Max trades are up to 5 trades/week and the best for me time to analyse the market is during the Japan session hours, when the new trading day starts. (at 00.00 GMT)
The tools i use in my Forex strategy is a combination of the daily fibonacci points and pivots, aswell as a combined tool of the moving avarage+stochastic+macd. Is simple and easy to use and to understand.
I enter the maket according to the closing candles of the 1h and 4h chart timeframes. This will show me the trend of a pair for the next hours. When i decide to close a position earlier then the expected target point, its because i see a trend reversal during my open position. Therefore i may close a trade earlier to keep some win, and avoid to hit my stoploss. Money management is the key! Trade less, earn more! My strategy is well tested for years.
My signals can be tested for all traders who like to earn with professional trading system, who are not greedy, do not like to gamble and see in Forex trading a second steady income /monthly, according to their invested capital. Its not the trick to make much pips and loose them again, but a good trader is the one who 1. stopps loosing in the forex market, 2. the one who knows how to keep his wins, and 3. the one who increases his capital step by step like my fibonacci Forex trading strategy.
I wish u a profitable trading!!
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