I don’t care if you’ve never even looked at the charts before; this is the easiest forex trading strategy you’ll ever use!
I’ve made over $1,000 daily using it for the past week. I backtested it 100 times for an 801% gain and will show you exactly how I did it so you can do it too.
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The Easiest Forex Trading Strategy
To start the week on my verified MyFXBook account, I banked $5,400.
I had two trades on this trading account, one for $4,000 in just 48 minutes and another for $1,446. I had three more on my other MyFXBook account.
There was a $1,500 win. Then I lost one for $960 and had another trade for $1,500 totaling over $7,000 gained in just a few trading days.
In my “backtester,” I had a win rate of 71% and a P&L of 801%. I had nine consecutive wins in a row at one point. The worst I had was three back-to-back losses.
Installing The Easiest Forex Trading Strategy
Let’s get into the installation for you to start using this easy Forex trading strategy.
- Visit TradingView and log in.
- Use the M5 timeframe, but this strategy works on the M15 and M30. I’ve had a lot of success with this strategy on the H1, but I’m using it on M5 because I’m doing some scalping. I want some action.
- Open the indicators tab and install Bollinger Bands.
- Install the Stochastic. Double-click it and ensure the numbers in the “Inputs” tab are 14, 3, and 3 to make it simple and smooth.
- The third indicator to install is the Indecision Candle Identifier.
If the Stochastic is above the extreme horizontal level, the market is overbought, and we’re looking for sell trades. If it is below, the market is oversold, and we’re looking for buy trades.
That’s the installation. It’s really that simple.
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Rules of The Easy Forex Trading Strategy
For this strategy, we’re looking for a few things (when selling):
- We want to see the price come to the outside of the bands, even a bit.
- The stochastic should be oversold.
- Wait for the arrow to appear on an indecision candle.
- Ensure the price is at key levels. The one in the video has been supporting and resisting it many times.
In the sample trade, I see the price rejected from the significant level with multiple indecision candles, and we are clearly overbought on the stochastic. Therefore, I’m looking for a sell trade, and you can see this trade goes in my direction, smashes the take profit.
As for buy trades, the price should also start reaching outside the band. Wait for indecision candles telling us that we are now oversold. Then prepare for buy trades.
In my sample trade, it also coincides with our price action.
We had our support at a significant level (demand zone) that the price was somewhat below before starting to push up. Hence, I entered the trade once it broke above a green candle’s high.
On these trades, I’m usually just putting my stop loss below the bands, a swing low, swing high, or something like that. For my take profit, I target an old price usually.
When using any strategy of mine, you will always win more trades if you trade from significant levels.
Live Trades Examples With The Easiest Forex Trading Strategy
Below are some live trades with the strategy:
Live Trade 1 (Sell)
As discussed, we had the price coming outside our bands (or at least close to the outside of them). I saw the indecision candle marked by that indicator. Then I had the stochastic telling us that we were overbought.
Hence, we’re looking for that downside movement to enter short trades. We searched for an area for support and resistance (a significant level).
We saw the price rejects off such level, coming out on multiple occasions. It is called a ‘liquidity grab’ and one of my favorite things in the market presently.
You will often see this at your support, at your resistance. The price will push out of it, but just 45 minutes later or an hour later, it will respect that same support.
I will enter this trade because this is a solid opportunity when I see all the rejection wicks at that key level.
This trade went in my direction and smashed my take profit, banking me over $4,000 in just 45 minutes. Fantastic!
As for my take profit, what am I doing here? I targeted a significant level because it is recent price action – an effortless decision.
For my stop loss, it was just above the wave to be safe on this trade.
By the end of this article, you will know exactly how to use this strategy, put it on your accounts, and be able to make some money.
Live Trade 2 (Buy)
The price is at a key level (which I’ve recently been fond of), starting to come outside my band, and I started getting my indecision candle.
The stochastic was oversold, so we were looking for those buy opportunities. Like the last trade, there is a significant liquidity level that the price breaks below.
Shortly after, just like the last time, the price starts to reject off that area, before later respecting it.
The trade goes in my direction, eventually – a solid one.
It didn’t even come close to my stop loss, smashing my take profit for about $1,500 gain.
Live Trade 3 (Sell)
My third trade was an AUDUSD short trade. Admittedly, we were in an uptrend, but I didn’t care.
I had a solid key level, so I wanted to see how the price reacted to that area. I waited for my indecision candle, the price pushing out of my Bollinger Bands, for the stochastic to be overbought on the stochastic.
Meeting all the conditions, I took the trade.
The trade started going in my direction, almost hitting the take profit, returning to retest a level, then finally smashing the target, banking me another $1,500.
As I continue reiterating, key levels are significant (as seen in this trade in the video). Price respected those in this example – a nice place to trade from, in retrospect.
You will struggle with this or any strategy by not using key levels. Ensure you add that to your trading game.
The price was beginning to get outside the bands in this trade but did not test a prior key level.
Eventually, it smashed our stop loss because it went for a long liquidity pull before going in my direction and would have successfully hit our take profit.
I almost entered the trade after the liquidity pull but wasn’t on my computer, so I took my loss.
Live Trade 4 (Buy)
My fourth live trade was on EURGBP, and as usual, we first looked for the price to push out the Bollinger Bands. Then we had an indecision candle, and the stochastic was overbought.
Moreover, I wanted the price to test and reject significant levels for liquidity pull, which I saw here. After getting a bullish engulfing candle and some momentum, I entered the trade once it broke prior highs.
As for my take profit, I put it at a previous level. I had my stop loss beneath the band and a swing low. Simple.
You can use this on crypto, stocks, Forex, or any asset class.
This trade smashed my take profit with a $1,400 gain, and it was my last of the week.
This trading strategy went well for me this week. I made over $7,000 using it over a few days, and now you can try it too.
If you like it, please comment below and tell me that you do; show me some of your trades. I’d love to hear from you.
Just ensure that you’re focused on those significant levels because you will have a lot more success.
I’ve shared over 20 excellent bots you should consider for trading in this article to make money even more effortlessly.