With these calculators, you simply enter the information from the previous hour, and it will do the math for you.
You just need to find a simple trading method that works fairly consistently, and work it consistently.
Learning pivot points as a simple trading method can be an asset for anyone looking to make money in the Forex market.
Another reason Forex traders like this simple trading method is because it is predictive versus lagging. Let your money stay in your account for a few months, trading a conservative percentage of your balance, and you will see your account balance grow faster than you could imagine. Just combine this trading method with self-disciple and good money management, and you are on your way to financial freedom.
It is all centered on a specific mathematic calculation based on recent prior trading results.
But with the hourly trading method, you need to enter new information with each hourly trade. And if you have an account with just $500 in it, but net an average of 100 pips a week, you could potentially make $100,000+ in just a few months with compound trading. The calculations include using the open, high, low, and close of the previous time frame you are trading.
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