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1 – Open only ONE currency pair, with good volatility – GBPUSD is good.
2 – Open candlestick chart, and remove ALL indicators from the chart, so you could see highs and lows clearly, patterns and figures. NO indicators!
3 – Watch only H1 chart and M5. If you have laptop or monitor, will be good to split chart into 2 windows with H1 and M5. If trade from smartphone – it’s OK, just check H1 chart once per 2-3 hours, and use M5 for trading.
4 – On H1 chart check for Highs and Lows, and wait until market returns on 2nd high/low. When market is on that level, switch on M5 and wait for a reversal pattern from that level (double or triple high/low; V-shaped pattern, Head and Shoulders, etc.)
5 – Open orders, put stop-losses under Low (over High), and wait for profit – on the opposite level of H1 (or M5 opposite reversal pattern).
6 – These signals for trading are very simple, and it is a good strategy for beginners. Trading it every day, you will start understanding market and find new signals.
7 – Follow money management – with $100 deposit maximum is 0.01 lot, with $500 – use 0.01-0.05 lot, etc. Don’t afraid when market hit your stop, just wait for next signal. Don’t enter the market without signals!
Practice with this strategy on demo account, and when you are ready, move to real account.
On H1 chart you can see highs and lows (levels and patterns) and on M5 chart you are able to trade from H1 levels by simple signals that market draw on M5 (classic patterns are the signals).
With this strategy you are able to make weekly/monthly profit. More you trade, more you understand in market movement, and start understanding market pulsation, for making less mistakes and get more profit.
Trade every day and follow the rules – use stop-losses or locks, and wait for next signal, don’t trade by your own wish. Follow the levels and it works in 95%.
It’s not difficult, and you don’t need to follow someone’s signals, that you don’t know where they take these signals, and how they determinate it.