What first comes to mind when you hear the forex strategy KISS? Before minded kinds, know that KISS is referred to here stands for Keep It Simple and Sweet. The concept emphasizes the use of forex strategy trading method is simple but still "sweet fruit".
Forex Strategy KISS
Thus, you need not worry about the effects of the simplification strategy to profit opportunities. Precisely with this kind of forex strategy, you can make a profit with a simple way, without having to wrestle with the complexity analysis. Four main principles of forex strategy KISS are:
1. Minimize Support Resistance
Recognizing the support resistance is necessary, but should not be excessive in identification. Many traders feel fear any resistance put support for the technique tends to be subjective. As a result, they draw a lot of horizontal lines and use them as support the first, second, third, and so on. And that's not coupled with levels of resistance not lose much.
In fact, only with a support or resistance level, you've been able to gain sufficient understanding to interpret price movements. An example can be seen in the figure below:
examples of resistance
The easier it is to read a chart, the more effective the application of forex strategy KISS. To test this, try asking for help fellow traders to see your price chart. Ask if the chart is quite easy to understand or even look like a "battlefield". In addition, always remember to immediately conduct "cleansing" if you start often forget to recognize the usefulness of levels marked on the chart. (This article was written by Galuh to seputarforex.com)
2. Arrange Patterns Trading Activities Daily
Trading forex can be addictive if you are not careful. Viewing the chart for hours can make you obsessed, and eventually led to an increased frequency of trading. In fact, instead of helping you capture every opportunity, saturation due to watching the charts for a long time can actually obscure your perception. Once experienced great loss, you'll be trying to move away from the market and feel free to re-entry due to trauma.
To avoid the hassle of problems due to erratic trading pattern, you should adjust your daily schedule. Whatever your trading style, whether it is scalping, day trading, or swing trading, you should set the pattern with careful planning. Trade with the pattern of unplanned activities, whether it's just or entry analysis, is as dangerous as ignoring the trading discipline.
Here's one example of the preparation of the daily schedule, which is taken from the routine Dale Woods, a trader at theforexguy.com.
Schedule Trading Day "As a trader price action, I chose the closing session of the New York and London session opening as time looking for trading opportunities. Since I live in Australia, the session trading on the New York end up in the morning, and the London market opened in the afternoon.
Guided by these rules, then this is my daily trading routine:
In the morning, I will be monitoring the chart to find out if there is an important signal in the closing session New York.
Throughout the day, I'll do other activities and would not be back watching the price when the London market began bergeliat.
In the afternoon, I scan the market for clues about what is happening in the Tokyo session. In particular, I would look for a signal a false breakout to find entry opportunities.
According to the notion of trading between sessions, I assume if the trader in the London session will push prices down if there is a false break of the resistance, or raised the price back up if there is a failure of the breakout of the support level at the end of the Tokyo session.
When the price movement has confirmed my analysis, then I will be an entry position in the H4 time frame and set the parameters corresponding exit risk management. I'll just monitor chart every 4 hours to see the changes in the time frame price action entry. "
In conclusion, forex strategy KISS did not recommend traders to sit all day and constantly stare at the screen. Instead, allocate trading time as possible to balance it with your daily activities.
3. Elimination Indicators Unnecessary
The desire to get the best forex strategies have certainly evolved within each trader. It was reasonable, but in reality, looking for the "holy grail" will only make you spend time in vain. Such actions are usually directed a trader to fight for sophisticated and often are complex.
Mixed indicator becomes natural phenomenon among traders alike. Let's say you follow the way of trading semacama it, what would you do if one day these things happen?
A leave indicators