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Suitable Forex winning Strategies on which you should put your emphasis.

Forex trading nowdays should be a sure winning game/ more profitable job regarding to the improved techlogy with great auto tools introduced that has simplified everything. It will be my fault not letting you know about the existance of the tools and strategies that have lead many people to billionaire statuses out of the little they use to invest with great hopes in the ROI, or it will be your fault not to take action on this guide and you remaid in the same level.

Winning forex strategies

  • When learning how to trade Forex online you should look to how professional traders invest their money.
  • Ask yourself the following questions:
  1. How did they become successful traders on the Forex market?
  2. Are they day traders, or swing traders?
  3. Are they fund managers, or are they professional traders trading for themselves?
  4. What are the best Forex strategies they use in order to trade successfully?
  5. How did they realise that their trading strategy worked with the current market conditions?
  6. How did they adapt their trading systems to changing market conditions?
  7. What are their actual trading techniques to make their trading performances consistently profitable?
  8. How did they develop good trading habits?
  9. What kind food do they eat?
  10. Are they human beings?
  11. If so then why can not do like them?
  12. What time can I take to be like them?
  13. What is neccessary to start being like them?
  • All those questions, what, how why, and so on will help you trigger your thinking about the situation of understanding how to contineously make good money with Forex – what to do and not. Learning how to develop a profitable Forex strategy to achieve Forex success is the must-have tool to make money trading.
  • Of course, having a Forex strategy that is profitable is useless if you’re not aware of the psychological biases that push you away from actually using your trading system.  
  • So, let’s review how you can develop a winning Forex strategy that you can stick to.

Steps to develop your winning trading strategy

  1. Determine which kind of trader you are
  2. Choose which trading style suits you best
  3. Describe your method to of entering/exiting the market
  4. Define your risk
  5. Back and forward-test your system

SCALPING AND DAY TRADING

  • These two kinds of trading are the most active and aggressive type of currency trading, as they both imply that all your trading positions will be opened and closed within the same trading day.
  • Day trading targets more pips and positions can be open for a few hours.
  • Scalping trading in the FX market is about buying and selling currency pairs with a target of a few pips, held for no more than a few minutes (or even seconds). Day trading targets more pips and positions can be open for a few hours.
  • These trading styles work with very short-term trading strategies and increase returns. Leverage is often used, which means that there is a greater risk of large losing trades.
  • Both strategies can be stressful and require being able to stay extremely focused and available in front of the charts to make (very) quick profits.

Scalping and Day Trading is for you if you:

  • Don’t like to hold your positions overnight, and prefer intra-day trading
  • Like to know if you earned or lost money at the end of your trading day
  • Tolerate a certain level of risk
  • Are available to be in front of the market and quickly react to trading potential opportunities
  • Are stress-resistant
  • Like fast paced trading

Swing Trading

  • This trading style is a longer-term approach based on taking advantage of changes in the momentum of a currency pair within a main trend. 
  • It’s often considered a continuation of day trading towards position/trend trading, which is a trading style following the long-term trend of an asset.
  • Swing trading requires a lot of patience, as you’ll be holding your trading positions for several days or weeks. It’s ideal for part-time traders, as they don’t always have the time to analyse the market.

Swing Trading is for you in the following ways.

  • You don’t have much time to spend in front of the screen(s) every day
  • You can hold onto your positions for days/weeks
  • You can’t put up with high stress and aggressive trading
  • You can’t deal with fast moving environments
  • When figuring out which trading style best suits your personality, you need to take into consideration all of the following elements: your current schedule, your attention span, and your risk aversion.
  • Consequently, you need to match your selected time-frame with your lifestyle and personality.
  • With swing trading, you may stay in position from a couple of days to a few weeks, while using 4-hour to daily charts. With scalping and day trading you will stay in position anywhere from a few seconds to a day, using anything from 5 minutes to hourly charts.

Click for more of the sure winning strategies if you are serious about Forex trading and want to make more money out of it.

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