Forex Trading Strategy With Fibonacci Levels
Forex Trading Strategy With Fibonacci Levels There is no doubt that Fibonacci levels are one of the most powerful forex trading methods that all traders rely on in all trading markets, whether global or local markets.
But many traders differ on the way to use Fibonacci, due to the multiplicity of forex trading ideas through it, and today we are reviewing with you a very effective and simple trading idea using Fibonacci.
What key ratios do we need in this strategy?
There are two main ratios that we use in this strategy which are 50.0% and 61.8%.
They are considered one of the most important Fibonacci levels, as the ratio of 61.8% is called the golden ratio of its strength in front of the price.
How do we apply the forex trading strategy in practice?
First, we choose a major wave on the chart and draw Fibonacci levels on it.
If the wave To the downside, we put the level of 100% at the top of the wave and the level of 0.0% at the bottom of the wave.
As for if The wave is bullish, so we put the 0.0% level at the top of the wave and the 100% level at the bottom of the wave.
Forex Trading Price Candles
It is also preferable to trade these levels with price action candles, as they express the situation We can wait at these levels for reversal candles to occur as a kind of Emphasize trading like hammer candles or pin bars.
And you can go deeper into the study of price action by subscribing to the course
Presented by Forex Online Trading “Professional price action and trading with professionals” to know the most important models of the compound and individual candles that we advise our clients to trade through as we do in the recommendations that we provide to our clients.
Forex trading for beginners
We always advise all traders to adhere to the application of capital management because it always maintains Staying in the market, regardless of fluctuations or fluctuations, your commitment to capital management keeps you protected Strongly all of these things.
How do you rate the forex trading strategy?
You can measure the success of your strategy in a variety of ways.
Experiment on real market prices for a period of 3 to 6 months.
Convert the strategy into a program and review the above opportunities.
Manually trial the strategy on realized and expired opportunities.
Programming a forex trading strategy
The evaluation method depends on the ability of each trader and of course converting the forex strategy into a trading program and running it to review all the past trades, it is ideal, but if you can find a professional programmer who will program the expert advisor with all the conditions you want to work with without shortage or increase until the result is accurate.
Real experience on market prices
Trading companies provide you with a system of “demo accounts” through which you can trade on live market prices with a fake trading balance in order to practice opening and simulating the market naturally without experiencing any potential loss or gain.
The last and least effective way is to try to monitor previous deals that were formed on prices on the same terms as your forex strategy and monitor them over a period of weeks, then months, and then years if you can, and then you monitor and write this data so that it is easier for you to review it and know its final result.