My trading strategy

[ParkChoi]

I prefer using the volume and price action strategy for scalping. This strategy uses volume indicators to look for price action. 

Technically, low volume is followed by high volume and then price action in the short term and not necessarily in the long term, which makes it highly useful for forex scalpers.

[nanamage]

Trading by news is indeed very fast in obtaining profits, but not all brokers allow the use of this technique, such as at xm brokers profit cancellation will apply and the account will be banned.

[boltushkin]

Many traders don’t use proper trading strategy rather depend on gambling. Gambling can give short-term success. But long-term results may be inconsistent. So, try to develop a good profitable trading strategy through a demo trading account. Almost all brokers like Hotforex in the forex market offer it to their traders for free. Always start trading with demo account after that invest small money in real account.

[nanamage]

Your trading strategy seems methodical and structured. By analyzing the primary trend across multiple currency pairs and timeframes, setting price alarms at key levels, and considering potential pip movements, you're incorporating a comprehensive approach. Monitoring the news calendar for volatile events and using The Forex Heatmap™ for entry verification adds a dynamic element to your strategy. The simplicity, relying on basic trend indicators and real-time visual confirmation, is likely one reason for its effectiveness among many traders. This daily routine minimizes the need for constant monitoring, making it a practical approach for those looking for a more time-efficient strategy. 

With a good strategy, make sure to pick a reliable broker and avoid falling for scam brokers. It's crucial for aspiring traders to be cautious and do thorough research before choosing a Forex broker. There are various broker rating categories on the WikiFX platform. Here's the top 10 forex brokers in the Dodgy/Scam category as of October, 2023:

1. eXcentral

2. OctaFX (Clone/Fake)

3. Binomo

4. Aximtrade

5. BTC Dana

6. Olymp Trade

7. MRG LTD

8. Headway

9. Stockity

10. Kato Prime

[boltushkin]

On 10/10/2022 at 2:08 PM, ParkChoi said:

I prefer using the volume and price action strategy for scalping. This strategy uses volume indicators to look for price action. 

Technically, low volume is followed by high volume and then price action in the short term and not necessarily in the long term, which makes it highly useful for forex scalpers.

Naked price action trading involves analyzing and making trading decisions based solely on price movements and chart patterns without relying on indicators.  It requires a keen observation of price dynamics and can be effective for those who prefer a minimalist and more intuitive trading style. I use this approach with Hotforex and with mixed success.