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Forex Trading Made Simple?

15 Years ago | September 10, 2014 12/9/22, 12:00 AM

I am not sure the word simple should be in a forex trading dictionary or any trading dictionary for that matter but there is a way to look at the market that should make it clearer to trade. There are some in the market who like to project themselves as fortune tellers, but in the end all they are doing is pointing out the risks. There is no crystal ball for forecasting the future but there is a way to look at the market that should make it simpler to trade. 

I remember when I studied basic programming many years ago, creating a program involved a series of “if, then” statements. Some call this a conditional statement:

Well, trading is not programming but what they have in common is conditionality. In trading, what you should do when looking at a chart is ask if, then. If support A breaks then the risk is to support B. if B breaks then the risk is support C. If Support C holds, then the risk is for a move to resistance A and so forth. It is as simple as that.

I call this an if-then roadmap as the market runs from support to support, support to resistance, resistance to resistance or resistance to support. It is all based on conditionality. Look at this video where I show a daily EURUSD chart as an example (this logic works for all time frames). It is in a major downtrend and has been moving along with a series of if, then statements.



The video example is self-explanatory and your ability to pick out key levels will help you create the if-then roadmap.  Picking out levels is my expertise so if you want help refining what I see as a key component of trading, contact me at jay@tradersadvocate.com

Can forex trading be made simple? Well, maybe the word “simple” is not in the trading dictionary but following my logic would make trading seem clearer. 

Jay Meisler, founder

Global Traders Association

 

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