The strategy we share with you in this article is based on an indicator developed by J. Welles Wilder. This is a very beginner trading strategy that any novice trader can trade with the help of a star parabolic indicator without the need for prior knowledge. Join us to continue the story.
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Like any indicator used in any trading strategy, parabolic is very late in price movements. For this reason, most trading strategies in the market can be profitable by adding a little price action to it.
How to deal with parabolic starling?
The use of parabolic star in Forex is very different from other markets such as stock market, gold and precious metals market, oil and petrochemical products market, digital currency market and…. does not have. The general idea is as follows:
- We have entered a downtrend when the indicator points are above the candlestick sticks.
- We have entered an uptrend when the indicator points are below the candlesticks.
On the other hand, instead of being displayed in another window below the chart, these points move in price and go up and down. This is a very golden feature that can be very helpful in managing transactions.
As you can see in the chart below, the “stop, reverse motion” feature in this indicator is very clear and understandable. It may not be unkind to mention that in markets with strong trends, points diverge, but in markets of fluctuations, these points come closer together. Many Forex traders use this point to identify market conditions and enter only strong markets.
Star Parabolic Indicator Settings
We are always interested in “Out of the box thinking” and we want to play with the settings of indicators and experts as much as we can, so this time we do not go out of this rule!
An adjustment called acceleration is the main determinant of distance and point placement. But unfortunately there is no optimized setting. Therefore, we strongly advise you not to deal with them too much, which will only result in frustration.
The best bargaining chip
By default, you can trade by buying when the price goes below and selling when the price goes above, as recommended on all sites and books.
But the stop we want to give you is a little bit modified and will prevent a lot of losing trades. In this way:
- Draw a trend line like the one below, as long as the trend is bullish, take only the buy trades offered by this indicator and refrain from selling.
- By drawing a trend line, as long as the trend is down, just take the sell trades and refrain from buying.
Be sure to set your trend line to EMA mode and limit its repetition period to 100.
The last word
Obviously, this strategy does not have the ability to make such profits, and it has never been seen that anyone can use it to achieve enormous wealth. But what is clear is that everything needs a start. This strategy can be a great start for novice traders to practice, in addition to getting acquainted with the Forex market and how to trade in it, capital management and modified entry and exit.
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