A major key to creating successful currency trading strategies are finding strategies that are low risk. Read more about the maths behind a trading system here.
Find out where to get the best strategies and how to work out if they will be any good. Read more about the preliminary requirements for any trading system here.
Having watched a trading video made by fellow Aussie Lance Beggs, he explains how he trades currencies and equity index's by considering the following;
1. Where support and resistance are located on higher time frames. When
he trades the 1 to 5 minute time frames he considers where support and
resistance are on the 1 hour chart. He also;
2. Looks for chart patterns like double or triple tops and
bottoms as well as zig zag formations at or near support and resistance.
Unfortunately, Lance's video is no longer available.
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