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ABOUT THE AUTHOR

Ryan Leclercq and FX Trading Revolution team

Ryan Leclercq first discovered

forex trading approximately 12
years ago. During that time he
has gathered vast experience
and has also explored a lot of
behind-the-scenes information,
exactly how the entire financial
market works, and especially
how brokers conduct their
business. Thanks to that he
realized how extremely important
the choice of the right broker is and what is happening in the field of
brokerage. This pushed him to create the FX Trading Revolution Team, which
began with the main goal of testing forex brokers around the world and as a
result brings necessary, undistorted and reliable information about the
choices of the right brokers for traders.

However, what seemed to be just a small idea in the beginning is now

growing exponentially. As forex traders from around the world appreciated
Ryan's fair approach and requested that more topics regarding forex trading
were added, the FX Trading Revolution website was continuously enhanced!

FX Trading Revolution is now the only place that forex traders need to visit in
order to become profitable traders without paying for it. FX Trading Revolution
provides exclusive daily Interbank HFT analysis, abundant education and
personal know-how, the best time-tested forex indicators, trading rooms,
interactive forum, real forex brokers reviews and much more! This makes it
an indispensable site for anyone interested in forex.

Now, we are bringing you the most personal know-how and insights of our
team regarding forex trading strategies in this eBook!


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 Introduction

The timing of a trade entry as well as exit is extremely important in the world
of forex. One of the most crucial features that differentiate professional forex
traders from amateur traders is the awareness about the precise timing of
trades. A good trader knows when to enter, how long to wait and when to
finally exit the trade. Better understanding in this regard can be the single
most important thing in forex trading.

Another very important part of successful forex trading is money

management. It is the money management that makes your trading stable
and successful in the long term. Without proper money management rules
and strict adherence to them, your profit potential will never be exploited to its
maximum. As such, you must make sure you never forget to follow the money
management rules in every trade you make.

The final important factor of long-term successful trading is psychology.

Profitable results come with experience from real trading, knowledge and
education, the right tools, a proper mindset, eliminating emotions, following
rules and very strict discipline.

This eBook will explain various concepts, tricks and tips which can be used to
improve your entering strategy, exit strategy, risk management and overall
forex trading experience.

Enjoy!


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 1) Entry Strategy: The Best Time and
Price to Trade

As a starting point towards making a profit (or loss), having a sound entry
strategy is extremely important. Traders, especially amateur and beginners,
often consider this part as unimportant and easy.

However, this is far from the truth as entering at the right time can make or
break your future in this market. Various traders use different techniques
depending upon their preferences, circumstances and trends of market. The
following are some of the mostly recommended skills to master if you too
want to have the perfect entry strategy.

A) Use Limit Orders:

Using the limit orders technique allows you an opportunity to buy or sell at the
desired price; hence, improving your chances of earning profit. Depending
upon the direction of your trade, you can place a BUY order below or a SELL
order above the current price – meaning that the order will get executed for a
better price in the market.

If you intend to trade long, you can set a limit below current price. As the price
level drops and reaches your placed limit, you get filled long. The opposite is
true in the case of trading short.

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Pending limit orders are also equal to Profit-Target orders, which are nothing
more than pending exit limit orders.

On the other side, pending stop orders are equal to Stop-Loss orders, which
are nothing more than pending exit stop orders.

By entering and exiting trades using limit orders, you always get your trades
filled for a better price, while by placing stop orders, your trades get filled for a
worse price in the market. In other words, you let the market come to you
instead of you going to the market by buying and selling at the current price
level.

This strategy may be used along with candlestick patterns or other analytical
tools.

Imagine, for example, that you would like to trade based on our unique daily
HFT signals analysis. Take a look at the screenshot below. There was the
light blue zone which indicated the light HFT buying pressure, and an
expectation of the market to bounce up.

However, let's suppose that we want to wait for a confirmation before opening
an order. Based on the candlesticks – Price Action, it was possible to clearly
see that any bearish attempt was stopped and destroyed in the light HFT
buying pressure zone.

So we have a nice confirmation from the Price Action – candlestick reversal,

so we would like to open a buy trade. But as you now know, you will make
your trades more successful by placing limit pending orders and executing

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trades for a better price, rather than opening the trade immediately or by a
stop pending order for a worse price.

Based on the example above, after the two candles highlighted in the
screenshot above, we might place the buy limit pending order at let's say 5
pips above the low of the two candles to ensure that our pending order will
most likely get filled.

In the picture above, you can see that our long is filled for a price of 1.2446.
And this makes a big difference when we would open the trade immediately
after the reversal or by stop pending order for a price around 1.2470.

Are you beginning to understand the reasoning here? Where amateur traders
are entering into the market, professional traders are closing their profits or
their profits are very nicely growing.

It is a brilliant entry strategy and has been used by profitable traders all over
the world. The only drawback of using the limit orders technique is that
sometimes the price may not reach the set levels and you may not get filled.
If such a situation happens, do not worry! Other better opportunities will come
soon!

TIP: If you want to explore our unique daily Interbank HFT analysis, you can
see all the latest HFT forecasts here:

https://www.fxtradingrevolution.com/forex-analysis-signals-predictions-
insights

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Or you can check the page of the High Frequency Trading Signals Indicator
here:

https://www.fxtradingrevolution.com/forex-hft-signals-indicator.html

B) Be aware of forex trading sessions - enter during the day

and close your trades by the day’s end:

One of the easiest ways to improve your entries and exits is to be aware of
forex trading sessions. To make your trades profitable, you always need
volatility – a move of the market. Without enough volatility and liquidity of the
market, and at least some market moves, you will not be able to close the
trade at a nice profit.

However, we do not want to trade just a random market outburst. And that is
the reason why I personally avoid the most important economic news – like
NFP report, interest rates, or speeches of bank governors.

Usually, the most volatile and active periods for EUR and USD related pairs
are during the London and New York session, while JPY and AUD currencies
are the most active during Tokyo and Sydney sessions.

Note in the picture below how London's and New York's open and close times
nicely predicted the most active period of EURUSD.

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So when opening a trade in the beginning of London or when the London and
New York sessions overlap, your profits would increase nicely due to the
volatility. And when closing the trade when London or New York closes, you
would close the profitable intraday trade very accurately.

Of course, if you prefer using higher time-frames to eradicate unwanted

confusion from changing charts and noise all around, then the sessions are
that not important for you. Moreover, daily charts can be more accurate than
lower time charts, such as 1-minute or 5-minute charts. But still, if you hold
your trades for the long term, you have to time your orders to get executed for
the best prices and avoid getting stopped out too soon due to the intraday
volatility.

TIP: You can read more about Forex Trading hours and sessions in our
educational article here:

https://www.fxtradingrevolution.com/forex-trading-hours.html

If you want to be always aware of the latest and the most important economic
indicators releases and events, you can use our Forex Economic Calendar
here:

https://www.fxtradingrevolution.com/forex-economic-calendar.html

C) The T-L-S Principle:

Are you aware of the T-L-S principle? If not, it’s time that you start following
this golden rule. Basically, this model suggests finding the right trend (or
market bias), finding key levels and anticipating trade signals; hence, T for
the main trend, L for key level and S for entry signal.

For example, a trend may be bullish in the market, the key level may be the
resistance turned into support and trading signal may be in the form of a nice
bullish candlestick pattern.

Such a situation can be seen in the chart below. At the time of writing this
eBook, there is a nice bullish trend on AUDUSD (based on D1 time-frame) –
so we have got the T - trend.

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Then if we switch to the H1 time-frame, there is just a brilliant resistance zone
that turned into a support zone. You can see for yourself how this support and
resistance zone is extremely important for the market. So we have got the L –
the key level / zone.

And we just wait to see the S – entry signal. You can see a couple of
reversal / entry candlestick patterns in the picture below:

Bang! All the entries in the direction of the trend, near the key support /
resistance zone, and after the candlestick's confirmation of the reversal, were
successful.

TIP: You can use our Support Resistance indicator that will draw all the most
important S/R zones automatically for you. You can download the indicator for
free here:

https://www.fxtradingrevolution.com/supportresistance.html

You can also read more about support and resistance trading in our
educational article here:

https://www.fxtradingrevolution.com/support-and-resistance.html

To explore the current market trend, you can use your enhanced CCI
indicator that you can download for free here:

https://www.fxtradingrevolution.com/cci-indicator.html

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And finally, to explore various candlestick patterns and tips to profit from the
forex market based on the Price Action trading, we recommend that you read
the following articles:

https://www.fxtradingrevolution.com/forex-blog/price-action-trading-
tips-to-profit-from-the-forex-market

https://www.fxtradingrevolution.com/forex-blog/the-most-used-
candlestick-patterns

https://www.fxtradingrevolution.com/forex-blog/forex-trading-with-pin-
bar-pattern

D) Get yourself a checklist:

Depending upon your preference,

temperament and trading strategy,
find a suitable checklist and always
follow it. It may be a case of trial and
error, but ultimately you will find a
right mixture of things to consider
before making any trade. A checklist
can consist of patterns and charts to
form a desirable trade setup, pattern
conditions, suitable trends, key
levels and certain signals.

Remember that a long-term successful forex trader is always absolutely

disciplined, does not trade based on emotions, does not over-analyze, and
trades with time-tested tools and strategies.


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 2) Position Sizing and Money
Management: Patience is the Key

It is common for forex traders to get

carried away and lose a lot of money
within a few days. Therefore, it is
important to understand the
fundamentals of money management
in forex. A generally accepted rule is
to never spend more than 2% of your
funds on a single trade. The following
are seven other important rules and
tips in this regard which, if followed,
can ensure better money management
and help to increase your deposit's value stability and growth.

A) Manage your lot size: At the start, carefully follow your lot size adapted
to your % risk appetite and the value of stop-loss that you need to enter to
your trade to be able to survive in the current market volatility. 



There is absolutely no need to increase it unnecessarily. Moreover, you
should increase your lot size only if the deposit has been increased
proportionally.

TIP: To always set your order volume correctly, you can use our position size
calculator here:

http://www.fxtradingrevolution.com/what-is-forex-pip.html

B) Think ahead: You must be thinking about the long term if you are in
FOREX to make money. Short-term results must not change your trading
strategy. For example, some success in the short term should not mean that
you spend excessive money on trades and vice versa. Recent success or
failure should not lead you to bend or change the fundamental rules of your
trading strategy.

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C) “Stop” is your friend: It is essential to use stop-losses if you want to
cut losses and manage risks properly. Some traders use mental stops;
however, actual stops may be used if it is not possible to monitor the market
at all times.

D) Have realistic expectations: 


An important way to manage money in
forex is to manage your expectations.
This is especially problematic for
newcomers. No one gets rich overnight
and aggressive trading is obviously not
the way to do it anyway.

E) Admit mistakes: Admit your mistakes and learn from them. It is normal
for beginners and amateur traders to make childish mistakes; for example,
trading aggressively or bending fundamental rules. However, a mistake is not
a loss as long as you are willing to learn from it.

F) Get prepared: When trading a new currency pair, it is often a good

strategy to read and understand its history. Analyze some of the worst price
movements and make sure you are prepared for it. Consider some of the
actions you might take during an adverse movement and have various
contingency plans at your disposal.

G) Use a mixture of Price Action and indicators: Generally, Price Action

gives a better idea about the latest market moves if compared with indicators.
However, indicators can give a better idea about the current market situation
and sentiment. Both have certain positive and negative aspects. 



Be sure to use a good mixture of both tools when entering or exiting from a
trade. Very useful indicators are also based on the Price Action – like our
support / resistance indicator.


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 3) Exit Strategy: It’s time to take
Profits

So you bought low and now the

price is increasing in the market.
Virtually you have earned some
floating profit. But is it the right time
to close the trade and monetize that
profit, or wait as the price may
increase further? But what if the
price starts coming down? Knowing
exactly when to exit is also a very
important skill which, if used
properly, can help in turning ordinary
profits into big gains. 



The remaining lines of this eBook shall discuss this aspect of forex trading.

A) Use Supports and Resistances:

The use of support and resistance levels when exiting from a trade is very
common. However, many traders still ignore the usefulness of this strategy.

There are also more ways to use supports and resistances when exiting from
a trade, as this strategy is absolutely universal – it can be used with any
market and with any time-frame.

Imagine that we are in a longer-term short position – we have just entered

into the market and are now waiting for upcoming swings and support /
resistance levels. In the picture above, imagine that we are in a short trade
that was entered somewhere around the red price level. We are now waiting
for upcoming corrections against our trade – resistances.

As you can see in the picture below, the market created a couple of
resistances, but did not break any of them and is still moving lower. I have

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also highlighted in the chart below where the first breakout of the resistance
levels happened. Patience here would bring us almost 230 pips profit!

And in case of a buy trade, the strategy would look the exact opposite – we
would wait for upcoming swings and a breakout of a support.

Another possible rule when exiting based on supports and resistances is to

start considering the option to exit from a short position as the previous
resistance is converted into new support, and to exit from a long position as
the previous support is converted into new resistance.

Such a conversion of support into resistance and vice versa indicates a major
change in the trend. However, this type of technique requires even more
patience.

Another possible way is to close trades as soon as it approaches the first

nearest resistance zones in the case of a buy trade, or the first nearest
support zones in the case of a sell zone. You can even close the trade there
partially, and close the rest of the trade at the second nearest support /
resistance zone. You get the point – there are just so many ways you can use
the support and resistance levels to make your trades well timed and more
accurate.

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Also, if you would like to get out of the market faster, you can use a several
times lower time-frame than the one used for trading. By using the support
and resistances for your trade exits, you will always take the profits that the
market offers and you will always be adapted to current market volatility and
structure.

TIP: As you started reading this last part of the eBook, did you think about
how to set stop-losses correctly? If so, you are starting to think like a real
professional trader.

However, the fact is that the stop-loss orders, when knowing how to set them
correctly, are usually clear. And we have already got an excellent article
regarding how to set the stop-loss orders correctly that you can read right
here:

http://www.fxtradingrevolution.com/forex-blog/how-to-place-stop-loss-
orders-correctly

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B) Using Overbought / Oversold indicator, get a free trade
and trail the rest of the profits

Now, if you would like to see specific rules on how to close trades, the time
has come. Using our Overbought and Oversold indicator is another highly
efficient way of understanding when to exit from a trade.

The whole exit strategy basically depends upon the time when the market
becomes overbought or oversold – meaning a probability of correction and
reversal. For every currency pair in the market, there comes a movement
when price starts getting carried away rapidly. It is the duty of a trader to
recognize this movement. As soon as it is recognized, a trader can then look
to protect his gains by partially monetizing the profits, and let the rest of the
free trade grow until the trend starts really reversing.

Let's explain the rules of this very effective exit strategy on a LONG (BUY)
trade example:

1) Suppose that we open the BUY order based on the Pin Bar pattern below:



2) As described in the article how to place the stop-loss orders correctly
(http://www.fxtradingrevolution.com/forex-blog/how-to-place-stop-loss-
orders-correctly), we can simply set the Stop-Loss order below the low of
the Pin Bar pattern.


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3) Now we simply wait for the market to become overbought based on our
unique indicator. The overbought situation is highlighted by the indicator right
when the red color of the indicator's line starts drawing.

In that situation we close a half of a trade – if we are trading with 2 lots, we

close 1 lot in a profit. For the rest of the 1 lot trade, we move the Stop-Loss to
the Break / Even = the entry price level of the trade. Now we have the free
trade. Of course, there is nothing like a free trade, as this trade involved initial
risk as well, but now we should not risk more than closing the rest of the trade
for a zero profit / loss - if the position would not get filled at worse price due to
a slippage, but that is a topic for another eBook :-)

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4) But of course, we will not allow the market to take back our floating profit.
So in case of the second half of the trade, we will simply move Stop-Loss 1
pips below the low of each following candle (in case of a BUY trade). In the
chart below, you can see the red lines representing moving the Stop-Loss.
The last candles before the close of the trade had similar lows, so there is
only one red line for them.

In this example, the second profit was not that much higher, but if a market is
strong enough, this technique will bring you additional profits.

An inherent advantage to using this technique is that it protects traders from

the dangers of emotional trading and allows aggressive trading at the right
moment. Moreover, it allows for better control of the opened trade and for
taking the maximum from what the current situation in the market offers.


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 CONCLUSION

Various strategies, techniques and tips have been discussed in this book. It is
important to remember that none of these are a holy grail and free from
drawbacks – the right money and risk management are always keys for
stable trading.



I know that you would most probably like to read the strict and surefire rules
of a single trading strategy that you could follow indefinitely and make surefire
profits with. However, my goal is to always provide true information regarding
forex trading and help you on your forex journey, and to not put rose-tinted
glasses on your eyes like others. That's why I have provided a collection of
proven strategies and techniques. Now it's your time to do your homework,
put them together in a way that will suit you, and then make the most of them.

HAPPY TRADING!

Ryan Leclercq

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