Best Forex Strategies
To make successful trades, every trader needs to stick to his or her own strategy. Trading at random, absolutely, has never brought anyone the long-awaited success and profit. Even if you are lucky, someday, trying to hit the finger in the sky, you will find that luck has abandoned you. At the end of the day, Forex Trading does not tolerate guesswork. Rather, it is mental activity multiplied by knowledge and strategies. It is these strategies that we are going to talk about today.
The most profitable forex strategies
It is difficult to name a trading strategy that would not be aimed at making a profit. It is, at the very least, illogical. That's why all forex trading strategies can be called profitable in one way or another. Let us consider one of such popular strategies. The weekly candlestick strategy called "Va-Bank" has proven to be very popular among beginners and professional traders alike. To use it, set the time frame W1 in the trading terminal, then select, for example, 14 different currency pairs and estimate the size of their candlestick bodies. After that, we select the longest distance from the opening to the closing of the candle within one week. It is on this currency pair and open a deal at the beginning of the next week.
Important: if the candle was bearish, the position will be long, and if it was bullish, then it will be short.
Stop Loss should be about 100-140 pips and Take Profit should be 50-70 pips. In the middle of the week we will need to close the order on our own, if the stop loss and take profit did not close it earlier. Then we wait again for the beginning of the week and fix the success, repeating everything we have already done. But remember, you should not open trades at the end of the current week!
Scalping forex strategy
Every trader wants to come to profit as soon as possible and prove to himself that trading on financial markets really works. When we speak about quick profit, we mean scalping strategy. It is especially urgent when it is a flat market on the currency market. Many people mistakenly think that it is impossible to earn on the flat, but it is far from being true. Traders know that the "sideways" on the time period is an absolute trend on a small one, and therefore it is possible to trade on timeframes M5-M15 at any time, no matter what situation is observed on the financial market. Scalping strategies also involve trading with a large number of trades, designed for a certain profit in each order. Just imagine, a trader can make up to 1000 trades daily, and to make the trade even more successful, a trader usually uses the leverage to "cut" the profit.
Simple forex strategies
Beginning traders tend to start trading with simple forex strategies. And in this case trading on the news is especially popular. It is popular with traders who know all the leverage of the news background on currency pairs. Of course, in this case it is necessary to use pending orders, and then you do not need to sit constantly at the screen, watching the charts. The news which can influence the currency pairs do not come out that often and it is better to refer to the analytics of such leading speakers as Artem Deyev and Nikolay Korzhenevsky to make the right choice and gain profit.
Free forex strategies
Every trader knows that the opinion of the crowd on the financial market is often wrong. If a trader follows the crowd, there is a risk of losing most of the deposit. If you do not want to be among the majority, you should use the sentiment indicator. The indicator analyzes the majority position on the future price changes of a particular trading instrument. Obviously, having estimated the actions of other market participants, the trader can direct his efforts against the actions of the majority. Such strategy is based on the opinion that the traders' optimism or pessimism cannot last forever, and that the market is sure to reverse one day. With a sentiment indicator, all that remains is to determine the current bullish or bearish sentiment and choose the right moment to open a trade. One of such tools is the "Cayman" indicator, developed by the leading analysts of the well-proven in the financial market AMarkets. This effective indicator allows the trader to evaluate possible market extremes and predetermine its reversal at the right time.
The indicator is in the "30-40" zone - buy.
2. there is a movement - we hold a "buy" position (position against the mass of traders).
3. The indicator has consolidated above the "50" mark - we can close the purchase, fix the profit.
4. The figure "about 50" is indeterminate, "Cayman" in this case is not indicative.
5. The trade opened in point 1 must be closed at this point (if not closed earlier) because the indicator has already locked above 50.
6. "Cayman" has consolidated above the "60" mark - we open in "sell".
7. We continue to hold our "sell", letting profits rise, watching the price chart and the "Cayman" indicator to make further decisions.
8. The price continues to decline, responding to the high level of the Cayman indicator.
Win-win forex strategy
No one wants to be under perpetual stress, do they? No one wants to lose. But if all trading strategies were win-win, there wouldn't be a single poor person left in the world. So we would like to conclude by saying that the best way to start trading is to start with simple forex strategies and at the same time study analytics in order to work out your own strategy that will give you the long-awaited profit. Don't waste your time looking for winning strategies on the Internet, trade and improve your skills, using new tactics and approaches, and then a win-win strategy won't take long to find, because you will create it yourself.