Your trading can never be successful if you don’t have a suitable forex trading strategy for yourself. Let’s take a look at 5 common forex strategies that not many traders know of. They have been proven to be profitable and easy to apply.
Trend following strategy
This is a strategy to profit from the positive developments in the market, formed in a few weeks, even a few months, in which the market reaches the higher peaks or lower lows in a predetermined direction (until reversal).
This method has been proven over time by many traders, however, it has some disadvantages as follows:
- Long-term trends are rarely formed in the market because volatile markets only tend to be about 15% of the operating time.
- Trying to catch a trend while it doesn’t exist will surely lead to failure
- You will need to have large amounts of money in your account to deal with the risks in the long run.
To learn more about this strategy, go to 10bestforexbrokers forex
This Martingale strategy is a fairly simple one and you will definitely profit if you know how to apply it properly. The principle of this strategy is simple. If the investor loses on a trade that trades an order and is at a loss, place a double bet on the next trade so that you can regain both capital and profit.
Let’s take an example, you trade a 0.1 lot order in forex for the first trade and get hit stop loss, on the next trade you will double trade, ie 0.2 lot trading, and if you continue to lose, you double the volume in the 3rd trade to 0.4 lots. So until you win, you can invest the amount of your choice. From that, you can see this strategy is extremely simple and certainly, you will not lose money by just winning once, you can regain all capital and profit of the previous times. Learn how to use this forex strategy at bestupdatereview forex
Swing trading strategy
Swing trading is a long-term trading style that requires patience to make transactions for several days at a time. This style is ideal for those who can’t track the chart throughout the day, but can spend a few hours analyzing the market every night. Best suited for people who have full-time jobs or are attending school, but still, have enough time to update what’s going on in the global economy.
Swing trading tries to identify a mid-term trend and points to the market when it sees a high probability of winning. Once you have started a trade you will sometimes find that the transaction is not moving in the right direction, so get used to it! It is important that you remain calm and trustworthy in your analysis. To see how you can apply this strategy, go to brokersreviewblog forex
Pyramid trading is a form of trading in which you will continue to open new buy/sell orders when prices are moving in your favor.
In fact, the Pyramid strategy is quite similar to the DCA form with high prices in trade coins. You or cryptocurrency traders probably will not be familiar with this method, right?
The most important thing in trading according to the Pyramid strategy is that you must identify the right trend. This way you will not have to take any risks or minimize risks. Learn more about this strategy at forexbrokerreviews forex
As the name implies, long-term transactions can take weeks to months. For long-term trading, many traders will use the basic analysis combined with technical indicators to assess the trend.
The long-term trading style, though, helps you not to look at the computer 24/24, as well as you will not lose too much fee when trading. However, this form requires you to have a cold head, and the ability to analyze really well to avoid bumps from the market. Sometimes, the market only “vibrates” one to scare, if you do not have much experience, you can immediately close an order, causing great losses to your account. In addition, when long-term transactions cut-loss points, profit-taking is often very large. Therefore, it can cause great loss if the price goes in the opposite direction. Another point is that you need to be very patient in finding a nice entry, be patient when the price moves, especially when the market is sideways.
Learn how to use this trading strategy with bestbrokerrating.com forex