This strategy is quite easy and maybe even more easy for you if you have foundational knowledge on traditional forex trading. But do not worry much ill work you through all the process.
With this strategy you will be able to earn 20$ to 30$ less than an hour of trading with a 100$ account size and the necessary tools.
WHAT YOU NEED
1. Account with ( CLICK HERE TO REGISTER ) IQCENT. it is very important, cos this broker has the necessary tools we will be needing to execute our trading.
2. minimum of 100$ account size
Lets get started.
WARNING: do not over leverge. Use 5% of your account size all the time, after 2 losses, stop trading. Use compounding method only to grow your account daily. With this method, you will be growing your account by 25% of the account size daily. Example if you have 100$ first day, you are expected to trade for additional 25$ profit, once you have that, stop trading, wait for the next day, by then you have 125$, you expectedto trade for additional 31$ e.i 25% of 125$. with this simple logic, you will grow your account quick.
GET FAMILIAR WITH SUPPORT AND RESISTANCE POINTS
WHAT IS SUPPORT AND RESISTANCE LEVEL?
By definition Support is a price where a downtrend can be expected to pause due to a concentration of demand. On the other hand resistance is a price level where an uptrend can be expected due to concentration of supply. At support level the price will either bounce back or breakout by continuing the with the trend; Often time after many try. SEE an example bellow
It is very important to be familiar with Support and Resistance as it will play a major role on this journey. We will be looking out for major resistance zones before any trade is placed irrespective of the timeframe. Lets take EUR/USD for example.
OTHER THINGS TO LOOK OUT FOR
-To spot your resistance and support points, go to Tradingview, open the currency pair chart you want to trade, draw you resistance and support lines in 15m timeframe.
You have something like this after spotting resistance and support zone.
-Check google for currency strength meter or use https://www.livecharts.co.uk/currency-strength.php
here obviously EURO is stronger than USD and thats why we could detect a buy from the Trading view image. This simply means when you have a setup like this, for the next few minutes, only watch out for a Buy because Euro is Stronger, only sell when you are sure USD is stronger. When they have the same strength, Do not trade.
HOW TO TRADE.
Write down the price of the last support or resistance point. Go to your IQCENT trading account after all these analysis has been made.
-Set chart timeframe to M10
-Set Trading time duration to 2mins
-Use 5% of account size e.g 100$ account, Use 5$ to place trade
-wait for price to come to the point u wrote down, Buy(UP) or Sell(DOWN) depending or the signal you get from your analysis.
-Place your Trade and wait for 2mins, if signal is very strong Use 1min
-Repeat procedure until your account has increased by 25%.
-Stop trading after 2 losses.
Wish you success in your HFX trading journey.
To learn more trading strategies Using price action and other special indicators, or make enquiries. you can contact me directly on