How to trade in a simple and smart way
The traders are the ones who make the trading harder by twisting and tweaking the trades. Trading is never easy unless you make it easy. As traders, you should not make trading harder instead you should make it simple.
Simple trading is the best
If you make it simple you will be able to trade more. If you are anticipating the market properly then you do not have to worry about the better trading but still making the strategies complex is the worse problem. There is no complex strategy every small strategy becomes complex because the traders are making it harder. The main of the traders is to turn and twist the strategies and to make it complex so then they will be able to earn more profits. If the traders think way too much to make profits it will make them fade the market as well. Usually, there is an allure for the complex and hard strategies. But if you trade using simple strategies then you will be able to earn more.
Trade simply to earn more
The Forex market can be something beyond what you imagined, your anticipations can be wrong at times. Even though traders get attracted to complex strategies it is not actually suitable, true, those complex strategies can comprise with more information and it can be logic but still Forex market is not solely based logic. The Forex market is always changing so you cannot completely rely on the logic. You might be wishing profits but the market might be offering losses so that is Forex. Everything is based on possibilities so you should use simple strategies then you will not have to face difficulties.
At the end, the price is what matters, the price is simple to understand but it has been morphed by the other indicators. Even though these indicators are valid and can be used to trade you cannot rely on it as you do on price. Elegance is the best way to forex trade.
The average range strategy
The average range strategy involves trading within the context and looking at price tendency. Even though we cannot guarantee the profits if you trade with the average range trading you will be able to gain more profits. To trade with this strategy you will have to track the average daily range also, you have to avoid extremely volatile moves due to the economic changes. Although, average range trading may be the bit of work you can easily jot down the highs and lows in a spreadsheet.
Summary: The Forex market is not complex but traders make it complex by using the complex trading strategies. Although you have simple trading strategies like the price action trading strategy but you do not consider it instead you cloud it by the other indicators. As traders, you should understand that however much you keep trading simply it’s the better. To trade better and to make more profits you should use simple strategies in the Forex market. We have explained you the importance of trading simple so make use of it.