𝐅𝐗 𝐖𝐈𝐙𝐘
The YouTuber claims to have made $2,000 from $300 using a simple Forex trading strategy and promises to teach it in the video. He recommends a specific broker and a standard account with a leverage of 1:500. He guides viewers step-by-step on how to use moving averages and RSI to identify entry and exit points. The RSI also has specific levels to input for optimal performance, and he suggests adding moving averages to the RSI for confirmation.
How to Make Money with a Simple Forex Trading Strategy
Introduction
Are you searching for a simple Forex trading strategy that can help make you money? Well, you’re in luck, because in this video, I’m going to share with you a very easy-to-follow strategy that can help you earn up to $2,000 from just $300. It’s a simple strategy that you can use to trade Forex and make money. All you need to do is follow my instructions and understand the rules. So, let’s get started!
Setting Up the Chart
The first step in setting up the chart for this strategy is to remove all the indicators from the chart. Click on the delete icon to remove all the indicators.
Adding the Moving Averages
Once you have deleted all the indicators, you can start adding the three moving averages to the chart. Click on the F sign to add the first moving average. The first moving average should have a period of 5, shift of 0, and method of exponential. Choose any color for this moving average. Once you have done this, press done.
Next, add the second moving average by clicking on the F sign again. The second moving average should have a period of 13, method of exponential, and a different color from the first moving average. Once you have done this, press done.
Finally, add the third moving average by clicking on the F sign once more. The third moving average should have a period of 50, method of exponential, and a different color from the first two moving averages. Once you have done this, press done.
Adding the RSI
Now that you have added the moving averages, it’s time to add the RSI. Click on the plus sign to add the RSI. The RSI should have a period of 1, applied to close, and a pixel of 3. The levels of the RSI should be set at 95, 94, 93, 70, 55, 54, 53, 10, 3, 10, 5, and 3. Once you have added the levels, add descriptions to each level. For example, 70 can be “strong sell,” 55 can be “tp1,” and 10 can be “oversold.” Once you have added the RSI with the levels and descriptions, press done.
Adding Moving Averages on RSI
Finally, it’s time to add the moving averages on the RSI. Click on the plus sign and add the moving averages on the second window. This will give you the confirmation you need to enter a trade.
Trading Using the Simple Forex Trading Strategy
Now that you have set up the chart, it’s time to start trading using this simple Forex trading strategy. Here are the rules:
– If the 5-period moving average crosses above the 13-period moving average and the 13-period moving average is above the 50-period moving average, enter a buy position.
– If the 5-period moving average crosses below the 13-period moving average and the 13-period moving average is below the 50-period moving average, enter a sell position.
Use the RSI to confirm your trade. If the RSI is overbought, wait for it to touch the 70 level before entering a sell position. If the RSI is oversold, wait for it to touch the 30 level before entering a buy position.
Conclusion
In conclusion, this is a very simple Forex trading strategy that you can use to make money. All you need to do is follow the rules and understand the indicators. By using this strategy, you can earn up to $2,000 from just $300. So, start trading using this simple strategy today and see how much money you can make!
