Want to make some good profits trading the same types of structure each week without confusion?
In today's blog I'm going to give you my easy to use tips that you can begin implementing and using today to help you become a better trader once it's time to execute a trade.
Practice these tips and you'll be able to:
Gain control over what you're trading
Become an expert over your own strategy
Make money using your own analysis
Ready to run towards the path of becoming your own money making Forex machine?
Click the play button below.
*Make sure you have paper and pencil ready*
5 Insanely Easy Ways To Trade Forex Market Structure
Each week I seek to take trades that are only highlighted by the structures that I use.
As someone who has been trading for 4 years I've found using the same type of structure over and over not only creates a good habit, but it also allows me stay on the path of consistency.
Like the old saying goes, "if it's not broke, don't fix it."
So, I'm giving you my top 5 tips that will help you trade market structure.
Tip # 1 Know What Market Structure Is and Why You Use It
You're probably thinking you know what market structure is right? Let me guess? Support and resistance? I'd hate to burst your bubble that is one form of market structure.
What is market structure: Market structure: market structure is what you plot on your price chart to help guide you in and out of trades.
Why trade market structure: When you plot it on your price chart you are saying that these areas are the best places you can buy or sell a currency pair.
Tip #2 Plot Market Structure On A Time Frame You Analyze
Not every timeframe is meant for you to plot market structure on. It's best to find at least 2 timeframes you analyze to give you as much detail you need that displays where price needs to go for you to enter a trade and where price needs to go for you to exit the trade.
This will be your analyzing timeframe. Let's dig into that in tip number 3.
Tip # 3 Plot Market Structure on Higher Timeframes
Higher timeframes are timeframes such as the daily, weekly, and monthly timeframes. These timeframes represent a bigger range of pips amongst a bigger given period of time.
The reason why it's best to plot on these timeframes is because the distance in between your plotted structures will allow for price to move. I'll show you an example below:
The red rectangle is my market structure for supply(major sellers) and the black line back to the previous low is my exit. The distance in between the line and my structure is 223 pips.
Because I plotted this structure on the higher timeframe, my setup allows price to move a greater distance which results in more pips.
Tip #4 Enter Trades Only At Your Plotted Structure
I'm pretty sure no one ever wants to get lost in the desert. This is why we have located homes we go to. What am I saying here. We don't trade in no man's land. No man's land is when trader's place trades without any valid reason.
One of the reason you plot your structures is so you wait for price to get there so you can enter a trade. If price is not there, don't take a trade. Simple as that.
Tip #5 Exit trades only at Plotted Structure
Once again, you plotted it for reason. By exiting at your next structure, you are telling your self not to hold the trade as long you don't need. Once again, simple as that.
Now It's Your Turn
1. Comment below what's your biggest trading struggle when it comes to market struggle.
2. Try one of our tops with a structure that you use. Share your before and after.
Use this to level up your trading.
My Gift To You:
If you've been struggling with knowing when to show up to place your trades, this ebook is for you.
Download your free copy of How To Time Your Forex Entries.
Click here to download.