Top 8 Forex Trading Strategies and their Pros and Cons
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upamfva Riggedy-riggedy-rekt Warlock   Posts: 1,116 Joined: Jun 2021 Reputation: 0 |
30 Oct 2021, 07:38
Top 8 Forex Trading Strategies and their Pros and Cons
A forex trading strategy defines a system that a forex trader uses to determine when to buy or sell a currency pair. There are various forex strategies that traders can use including technical analysis or fundamental analysis. A good forex trading strategy allows for a trader to analyse the market and confidently execute trades with sound risk management techniques.To get more news about ironfx south africa, you can visit wikifx.com official website. FOREX STRATEGIES: A TOP-LEVEL OVERVIEW Forex strategies can be divided into a distinct organisational structure which can assist traders in locating the most applicable strategy. The diagram below illustrates how each strategy falls into the overall structure and the relationship between the forex strategies.To get more news about irontrade, you can visit wikifx.com official website. Forex trading requires putting together multiple factors to formulate a trading strategy that works for you. There are countless strategies that can be followed, however, understanding and being comfortable with the strategy is essential. Every trader has unique goals and resources, which must be taken into consideration when selecting the suitable strategy. To easily compare the forex strategies on the three criteria, we've laid them out in a bubble chart. On the vertical axis is ‘Risk-Reward Ratio’ with strategies at the top of the graph having higher reward for the risk taken on each trade. Position trading typically is the strategy with the highest risk reward ratio. On the horizontal axis is time investment that represents how much time is required to actively monitor the trades. The strategy that demands the most in terms of your time resource is scalp trading due to the high frequency of trades being placed on a regular basis.To get more news about hot forex reviews, you can visit wikifx.com official website. 1. PRICE ACTION TRADING Price action trading involves the study of historical prices to formulate technical trading strategies. Price action can be used as a stand-alone technique or in conjunction with an indicator. Fundamentals are seldom used; however, it is not unheard of to incorporate economic events as a substantiating factor. There are several other strategies that fall within the price action bracket as outlined above. Length of trade: Price action trading can be utilised over varying time periods (long, medium and short-term). The ability to use multiple time frames for analysis makes price action trading valued by many traders. Within price action, there is range, trend, day, scalping, swing and position trading. These strategies adhere to different forms of trading requirements which will be outlined in detail below. The examples show varying techniques to trade these strategies to show just how diverse trading can be, along with a variety of bespoke options for traders to choose from. 2. RANGE TRADING STRATEGY Range trading includes identifying support and resistance points whereby traders will place trades around these key levels. This strategy works well in market without significant volatility and no discernible trend. Technical analysis is the primary tool used with this strategy. Length of trade: There is no set length per trade as range bound strategies can work for any time frame. Managing risk is an integral part of this method as breakouts can occur. Consequently, a range trader would like to close any current range bound positions. Entry/Exit points: Oscillators are most commonly used as timing tools. Relative Strength Index (RSI), Commodity Channel Index (CCI) and stochastics are a few of the more popular oscillators. Price action is sometimes used in conjunction with oscillators to further validate range bound signals or breakouts. |
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vostov Riggedy-riggedy-rekt Warlock Posts: 1,128,025 Joined: Apr 2020 Reputation: 0 |
21 Jun 2023, 18:08
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vostov Riggedy-riggedy-rekt Warlock Posts: 1,128,025 Joined: Apr 2020 Reputation: 0 |
08 Feb 2024, 08:07
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roanparker158 roanparker158 Posts: 6 Joined: Mar 2021 Reputation: 0 |
08 Feb 2024, 08:22
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