Forex Trading Daily Strategy

Forex Trading Daily Strategy

# Forex Trading Daily Strategy

# Daily Strategy

What is Forex trading Daily Strategy? A lot of trading beginners may wonder what Forex trading Daily Strategy should do. Let me explain. Actually, it's really simple.

  1. Follow the trend of the instrument that you may trade.
  2. Build a daily trading signal generator(expert advisors will be helpful).
  3. Verify your Forex trading Daily Strategy by backtesting your EA(expert advisor ) on the historical data.
  4. Catch up with the news and the economic calendar.
  5. Trade when the signals occur.
  6. Check your trading report every day. Make a good risk management policy.

# how to practice every step above?

  1. Check the most important economic indicator(such as unemployment claim, the interest rate policies of FRB or other developed countries' central banks) at least once per month. Then you would know the trends of EURO, USD, JPY, GBP in the next several months(one or two months) if there were no other special emergencies.
  2. Code an expert advisor to send you the signals to notify you an entry point is coming. If you can code on your own, you just need to choose a compatible programming language. For example, if you are a JS programmer, then you can choose Fintechee(developed by me) to make your own expert advisor . Fintechee supports Javascript. If you are not a programmer or not familiar with coding at all, then you can follow the signals shared by some veterans. You can check my daily blog(almost updated daily if I'm not too busy) here or check some copy trading community. Please note, not every trader shows you their real trading report. So don't be scammed.
  3. If you don't know how to program, then ignore this step. Because you need to backtest all by yourself. Nobody has time to check your trading strategies ' logic. You need to debug your programs and backtest them. If you are a JS programmer, then we recommend you use Fintechee's backtesting system. It's simple and based on WEB browsers. So if you encounter errors, you can use browsers' developer mode to set breakpoints and debug. I inserted three signs("xxx") being close to the init callback function, the deinit function, and the onTick function. You can search "xxx" under the developer mode to find the entry points and set breakpoints there to pause the running of your expert advisor.
  4. Fintechee's WEB trader integrated with some news signal publishers. Thanks for the help of the calendar widget that the press provider shared. We can check important economic indicators in real-time.
  5. ONLY trade when you see the signals. Don't be opposed to this trading policy. If you follow the signals once, then please do follow them always. Because intervening in the trading process and making your mind contradict the signals harm your daily trading. It's NOT a good habit.
  6. Check your trading report at least once per day. No need to check it too frequently, such as 5 min once. No, don't do that. The bad habit would exhaust you soon. If you are tired of trading, you won't trust your trading skills anymore and lose your confidence immediately. No one can guarantee that the signals always work. So, good management to control risk is really necessary. Please note, don't show your Stoploss points to anyone, especially the brokers that you are trading with. Then you may ask, how we can quit without the Stoploss setting on the open trades. Expert advisors will help you check them and do it automatically. That's why I always recommend traders use algorithms for trading.

We started trading since Feb 17th, 2020. Please feel free to track our trading records.

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