The best contrarian forex strategy is a forex trading system which is based on trading with Bollinger bands. The system is easy and suitable for all levels of traders ranging from newbies to experts. So, the system is simple and the signals are clear. Now, all you need to make money depends upon your own mental status and your way of doing things. Become a disciplined trader and have a peace of mind, you will be highly successful than ever. Don’t follow rules and become a undisciplined trader, you will wipe out your account before you make some bucks. This is the reality of trading. You cannot beat the market without maintaining higher level of self discipline and peacefulness inside you. You should learn to be calm, patience; rational, etc. emotions are the worst enemies of the traders. Try to avoid making emotional decisions.
Coming back to The best contrarian forex strategy, we have only an indicator in this forex trading system. When the best contrarian forex strategy is correctly loaded on your trading platform, your chart should see like this:
As you can see above, this system is really simple and has a clean chart. The simple concept used in this system is that; price fluctuates between these two thin lines and you should be able to grab advantage by knowing this fact. Main idea is to go long when the market is around the lower band and to go short when the market is around the upper band. You will have higher chances of winning when you only enter your trade in the direction of the major trend even if the system generates the signal in the counter trend direction.
Buying Conditions using the best contrarian forex strategy.
- Price should touch lower band.
- Price should start forming bullish candles.
- Overall trend should be up.
- Place your long positions as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit as soon as the market touches upper band.
Selling Conditions using the best contrarian forex strategy.
- Price should touch higher band.
- Price should start forming bearish candles.
- Overall trend should be down.
- Place your short positions as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit as soon as the market touches lower band.
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