This simple 5-step strategy will help you simplify your business while making consistent profit. Business strategies do not have to be complicated to be extremely successful. In fact, simple trading strategies have proven over time that very complex strategies are successful because of this paradox, a simple strategy is easy to follow and easy to implement.
Follow the 5 step strategy:
1. Check the trend using your daily chart. The chart should tell you whether the market is uptrend or downtrend.
2. Once you know how the trend is, check for basic news releases that may affect your business. If any major news is published within 24 hours of your business, do not take any of the following steps. You can get current financial news from a financial market news feed of your choice.
৩. If your business has no news within 24 hours, execute your trading plan. For example, if the main trend is to go up, look for "buy" signals from your technical indicators and vice versa if the main trend is down.
৪. This is the most important step and your decision as to whether a trade should be entered here. A common tactic is to use 4 EMA (Exceptional Moving Average) and 23 EMA crossings in a 30-minute chart to determine whether to buy and sell the minute Your other indicators for approving your business, such as weekly pivot, stochastic and MACD. (Moving Average Conversion Diversion) should be used gence These indicators also should not look flat following the trend. You can make the trade go in your favor by confirming the trend only by trading in high liquidity sessions and using the 4 hour chart. If all looks good, you're done!
৫. Setting up a trade with a stop loss of about 35 pips is one of the last steps in managing your finances, using one of the 2 methods of achieving your goals. The first method is to use a healthy risk ratio of at least 1: 2 and the second is to use your daily support and resistance.
As you can see, a good business strategy doesn't have to be complicated to be successful. By simplifying your trading strategy, your potential for successful business has increased significantly. This five-step strategy will help you achieve consistent profitability with your business.