Dont worry we have collected 15 most successful Forex Trading Strategies for beginners.
If you are not ready to use these trading strategies (especially if
youre newbie trader), we recommend to try copy trading, which allows to
enter the world of forex trading in a much easier way.
How to Choose The Best Forex Trading Strategy?
We have classify 4 best trading strategies and found the best forex patterns for each:
#1 Position trading – Holding positions for an extended period of time
(months and years). This kind of forex trading is reserved for the
ultra-patient traders, and requires a good eye to be able to spot the
underlying long term trend.
This is the polar opposite of day trading as short term fluctuations
are not taken into account when position trading. #2 Swing trading– A
style of trading that keeps trades open from a couple of days to a few
weeks. Swing traders primarily use technical and fundamental analysis to
look for a profitable trade, and once a chunk of the price is captured,
move on to the next one. A good eye for analyzing price trends and
patterns. Suited for people who cant spend the whole day in front of the
screen.
Scalping is like those high action movies that keep you on the edge of
your seat. Its fast paced, exciting, and mind-rattling all at once.
Trades here are usually only held onto for a few seconds to a few
minutes at the most!
What makes up for the small profits is the sheer number of trades
opened and closed. A few pips here and there may add up to a significant
amount in the end.
Since scalpers basically have to be glued to the charts, it is best
suited for those who can spend several hours of undivided attention to
their trading.
#4 Day trading – Typically only taking a few trades a day and closing
them before the day is over. Day trading is suited for forex traders
that have enough time throughout the day to analyze, execute and monitor
a trade. Still requires more attention and analysis than swing or
position trading but if you think scalping is too fast but swing trading
is a bit slow for your taste, then day trading might be for you.
