Forex world


Trade Forex With One Candlestick

Forex trading with only one candlestick, sounds funny right? However, after reading this article, you will find it very reasonable.

The first thing, I have to say right away, I have met a lot of traders who only trade with 1 candlestick, and among them there are also people who are very successful with this strategy.

The One candlestick mentioned here is not just analyzing 1 candle enough to have a trading decision, but here is talking about: JUST DEFINED EXACTLY 1 NEXT CANDLESTICK - YOU ARE ENOUGH TO WIN FOREX MARKET.


I explain in detail as follows:

- With one candlestick of the M1 timeframe, the average price volatility is only about 1-2 pips, if you win 1 M1 candle, minus the spread, you only have a draw or a loss.

- With one M5 candlestick, the price fluctuates on average 2 - 4 pips, you can hardly gain an advantage, maybe you will draw if you correctly predict one M5 candlestick.

- ......

- With one D1 candlestick, the average price fluctuates about 50 - 80 pips.

- .....

- But with 1 candlestick of the MN frame, the average price fluctuates 400 - 700 pips, if you correctly predict 1 MN candlestick, at least you will earn a few hundred pips. So 1 month earn 1 candle with a profit of a few hundred pips, so have you become a successful trader? Let's try to find out how many traders earn a few hundred pips a month regularly.

A trader's job is to try to simplify things. Instead of trying to find a long wave, look for a candlestick on a larger timeframe. For example, instead of looking for a bullish wave to buy on on the M15 timeframe, it's easier to find a white candlestick on the D1 timeframe. First guess if the candlestick will be white (up) or black (down), then look for entry zones on smaller timeframes to optimize profits.


- First, understand the structure of candlesticks (there are many on google with just 1 click).

- Then learn about popular candlestick patterns, and highly reliable ones.

- Choose a few favorite models, which you find the most reliable, with the highest accuracy.

- Apply to predicting, and start FINDING THE NEXT ONE CANDLESTICK, the time frame depends on how many pips the profit target wants to earn for 1 trade to choose the right one (I see short-term trading should choose from H1 and above)

- When analyzing and predicting a candle of a large timeframe, it is necessary to combine analysis on a smaller timeframe to detect problems such as trend, resistance, support, volume... to have a reasonable entry and exit point, and at the same time, you must refer to a larger timeframe to filter noise for the signal.

- Test - test - and test continuously... by analyzing the losing order to find the wrong point to avoid, analyzing the winning order to find the right point to promote.

- After completing the testing process, represented by a growing account and stable profit, then start thinking about opening a real account at reputable Forex Brokers to start picking sweet fruits.

Best regards,


No comments:

Post a Comment