There is only ONE strategy and that is to understand the market makers daily cycle . The dealers have two functions. First to facilitate the retailers to open their positions. Secondly to separate you from your money. They have been doing it for years. This is their business, not ours. Unless you learn the way to hang on to these dealers' coat tails and trade HIS/HER side of the trade you will fail. This is why more than 95% of retail traders fail. These failure rates are the brokers figures in their reports. All these expensive courses, I tried most of them, will cause you to be on the wrong side of the trade most of the time. If the dealers want to buy, they will put a couple of strong sell candles up, attract you to sell, and buy from you. You are now acting as part of their liquidity. After accumulating contracts mainly during the Asian session, they will at some point after a few hours assess whether they are at that point net long or net short. Before the next session, in the "gap hour" they receive their instructions from the chief trader. They know where retailers have their stop orders if retailers are buying. the stops accumulate a little below the support level. when retail traders are buying, they place their stop losses below support. When they are ready, the dealers will do a stop run targeting all those stop orders which are SELL orders if retailers are buying. smart money will take out those stops and buy. They will also take out the breakout orders of traders who believe the price will break below support. After working down there some time, they will quickly get the hell out of there with a "shift bar" as they call it, taking price up and releasing some profits They will do the same to the traders convinced that prices are going up. Even if you are on the right side of the trade, you will be taken out because you placed your stop in a vulnerable position to their stop run. Ever placed a trade in the correct position only to have it taken out, then price reverses and goes in your direction?
A few hours after the NY session they will then move into another accumulation with traders who have lifted their stops altogether or moved them, thinking price will come back, then find themselves trapped with price ranging maybe 30 pips or less until the next Asian session. You can pay thousands for those ridiculous courses but you will never learn the way the dealer trades from them, and will be on the wrong side of the market. Would anyone seriously take on the dealers with their massive resources. Its like you are lying on a railway track waiting to be crushed by the next locomotive. The retail forex training industry is made up of the blind leading the blind. Just like the dealers, they have the same objective to separate you from your money. Please avoid paying the price I had to pay in financial and emotional despair. You are trading with professionals, who are some of the brightest minds in the world , with access to almost unlimited funds who know exactly the mistakes you are going to make make when you are induced into a trade by two or three healthy looking candles. Look, there is even an MT4 managers handbook and software available to these guys. All they need is an account number, name, and country and they can with the simple swipe of a bar increase your spread to infinity. When they see an account in margin call, they go for the jugular targeting that account increasing spread for that particular account to take your last few bucks when you have a margin call from your broker Then, its high 5s in the dealing room as they laugh at your stupidity whilst they suck out the last drop of blood in your account. Dont fool around with these guys or the dump strategies that get you to trade against them. It won't work.