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15 Hottest Forex Strategies & Trading Patterns In 2021
Are you using the wrong Forex trading strategy, or not using a Forex strategy at all which is also a strategy, just a really bad one？To get more news about WikiFX, you can visit wikifx.com official website.
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. |
