The forex market is full of different trading strategies, but here is an important question which is what are the best forex trading strategies for beginners?, this is what we will answer in the following lines.

 

Forex Trading for Beginners: 3 Profitable Strategies for 2022

In the following lines, we will talk about the best profitable forex trading strategies for beginners 2022:

 

1- Pin Bar Trading Strategy

Trading with Pin Bar Trading Strategy is part of price action. Pinned bars indicate that the price level is rejected and you can expect a reversal soon.

 

The inner bars tell about price consolidation and potential breakout. When used together, they give strong combinations called an inner bar - a pin bar combo and a pin bar which is what is called a combo style.

 

The Pin Bar pattern - the inside bar combo is built on the inside bar that is engulfed by the previous pin bar (the inside bar is completely inside the price range of the pin bar).

 

The inner pin bar combo indicates that the pin bar is the inner bar at the same time. This means that the pin bar is located inside the outer mother bar which is also a pin bar.

 

Trading with Pin Bar Trading Strategy

Watch the price chart carefully. Find a pin bar. When you spot one, wait for the inside bar to develop after it or check if the pin bar is inside the previous candle (mother bar).

 

When the inside bar appears and the pin bar is consumed, you get a pin bar combination pattern - with the inside bar. Ideally, the inner bar will be located inside the pin bar.

 

With this combination pattern, you can trade binary options, but you need another item. And its presence is important, namely, the levels of support / resistance.

 

2- Inside Bar Trading Strategy

In this pattern, the inside bar is at the same time a pin bar. Use it to trade binary options in trending markets.

 

Now, the situation in the market is the opposite. The price is heading down suddenly. Then the inner pin bar pattern appears. It gives an indication that the trend will continue in the previous trend.

 

Thus, you should open a sell position just after the inside pin bar combo pattern.

 

Follow the price movements in your chart and look for the pin bars that the inner bar is following.

 

Open the position the moment the form is completed for a chance of higher profits.

 

Use the pin bar and the inside bar in a candlestick combo pattern as reversal signals at important price levels.

 

In the blockbuster markets, look for the inside - the pin bar combo pattern which is a continuation pattern.

 

Try to learn about the pin bar and the inside bar in a combo pattern on IQ Option with a free demo account first. You will not risk your money and you will get time to practice trading with this powerful strategy.

 

3- Forex Breakout Strategy

The breakout strategy can be difficult to implement by traders who do not have enough patience.

 

They cannot focus and be impatient for long-term results and focus more on quick, immediate results.

 

Setup hack strategy for entry

Before looking at the chart, every trader should first know what to look for.

 

This means that you must ensure that the money market conditions are correct and appropriate to enter before you start trading.

 

Knowing what you're looking for allows you to quickly navigate through numerous charts, without missing any important data no matter how complex, or easy, different Forex and CFD trading strategies are.

 

To start using the breakout strategy, you need a relatively concentrated money market.

 

This means that there are relatively narrow horizontal price corridors, with a money market with relatively low volatility.

 

In these corridors, bears (traders downside) and bulls (traders of an uptrend) have roughly equal strength.

 

Various methods are used to differentiate the money markets.

 

The trading strategy for beginners described here applies to the 200-period simple moving average on the daily chart.

 

The number 200 was chosen because it is approximately the number of trading days in a year, which means that you see the average annual movement.

 

Use the market and its average daily volatility to determine the price range, for example, it might be 50 pips on either side of the 200 SMA.

 

Entry hack strategy

 

This strategy has simple entry rules. If a candle has formed on one side of your 200 SMA, yet it breaks through the range of the other side of the average, you should enter in the direction of the breakout.

 

Look for a Skyscraper Candle that is at least 50-60 pips.

 

Breakout exit strategy

 

Exit conditions are just as important to traders as entry conditions.

 

This applies to every successful trading strategy I've discovered so far, simple or difficult.

 

Always hit the moving average indicator, the 200 (200 SMA) for a dead stop.

 

A complete cessation is a cessation without any discussion or hesitation.

 

If the price comes back to that level of the indicator, you should know that it was a false breakout.

 

The market is still active and raging, and there are still bulls and bears at this price level.

 

If you can track the stop 50-60 pips behind the price, it will move you away from the 200 SMA profit area.

 

This currency trading strategy is one of the most successful Forex Trading strategies for beginners. It is great because of its understandable logic, simple use and ease of management.