What is the best Forex trading strategy?

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Thread: What is the best Forex trading strategy?

  1. #1
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    Default What is the best Forex trading strategy?

    What is the best Forex trading strategy?
    Each trader has different personality traits which need to be taken into account when choosing the best Forex trading strategy. Some traders like fast-paced trading on short timeframes, while others prefer longer-term trades which are held open for a few days or weeks. Whether you want to buy a Forex strategy or use a free Forex strategy, your personality plays an important role.

    There are four main trading styles that you need to be aware of:

    Scalping
    Day trading
    Swing trading
    Position trading

    Scalping is the fastest trading style, and sometimes involves holding trades for just a few seconds. Scalpers usually open dozens of trades during the day, and aim to profit on very small price movements, often closing the trade with only a few pips of profit. This is a fast-paced trading style, and not suitable for everyone. In terms of trading strategies, scalpers rely on short-term technical analysis and news trading and try to profit on sudden spikes in momentum.

    Day traders hold their trades during the day, and close them by the end of the trading day. Generally, if you open at least four trades per week and hold them only during the day, youíre classified as day trader. Just like scalpers, day traders rely on technical analysis on relatively short timeframes, ranging from 15 minutes to up to one hour.

    Swing traders hold their trades for a few days or weeks. Unlike day traders, swing traders are exposed to increased risk if the market conditions change overnight or over the weekend. However, the longer time horizon allows swing traders to have larger profit targets than day traders. A successful Forex strategy for a swing trader would be based on technical levels combined with some fundamentals.

    Finally, position traders are very long-term traders, holding their trades for a few months in some cases. This calls for a deep analysis of market fundamentals, since fundamentals have a significant impact on long-term currency movements.

    All successful Forex trading strategies take into account these differences in trading styles, so you need to determine first which style reflects your personality, and then choose the strategy that best fits your approach.
    All is possible

  2. #2
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    For me best forex strategy is day trading open at least four trades per week and hold them only during the day, youíre classified as day trader. Just like scalpers, day traders rely on technical analysis on relatively short timeframes, ranging from 15 minutes to up to one hour.

  3. #3
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    Strategy is a technical way indicates us where and how to trade. A forex trading strategy is a technique used by a forex trader to determine whether to buy or sell a currency pair at any given time. Forex trading strategies can be based on technical analysis, chart analysis or fundamental, news-based events. As a scalper I prefer scalping the more. With Trade12 I have lowest transaction cost, narrow floating trading spread, high leverage up to 1:400 and superior fast execution.

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