Are you looking for the reliable forex trading strategies to apply in your forex marketing campaign. Its useless to say that getting in forex market is very easy, but to choose the right forex trading strategy is really hard. Since there are many forex trading strategies out in the market and choosing the one that can prove beneficial both to your business as well as your experience is a lot tougher thing to do. Therefore, to help you we have compiled a list some of the best Forex trading strategies.
Forex Trading Strategies for Beginners
- The Bladerunner Trade
If you are looking for that suitable option that has proven it to be the basis of the success of many others, then you should better stick to the Bladerunner Trade strategy. This powerful strategy is based on the EMA crossover forex trading strategies, which when integrated with different currency pairs and time frames makes forex an enjoyable aspect of the market. Furthermore, its combination with price action and trend monitoring eases the trading a lot.
For the purpose of putting this strategy to work, one needs to wait for the trend to until it is confirmed. Once the trend graph shows some stability, the trader can surely set out in search of potential customers in accordance with that trend direction.
- Bladerunner Reversal
As the name suggests, Bladerunner Reversal Strategy is totally opposite to Bladerunner, in action. After the trend season ends up, both the demand and price of the product change their direction immediately in terms of polarity and that’ where this reversal comes into play. This concept makes use of immediate changes in trends especially the reversals and then using the data, it provides the perfect outlining for the trader to plan his next move.
- Daily Fibonacci Pivot Trade
Fibonacci retracements and different timed pivots are the basis of Daily Fibonacci Pivot trade strategy. This game changer lets one to observe currency pair entry, while comparing last five days’ average range and trading sessions of the previous day, to look for that confirmatory candle signal that identifies the confluence of Fibonacci retracements before entering the market. This signal marks the ending time of risky change in trading patterns so that the trader can enter the market and achieve the maximum possible reward.
Even though daily pivots are the main point of focus of this strategy but one can easily extend the approach idea to further time periods like weeks, months and even years, to observe long-term effects market behaviors.
- Bolly Band Bounce Trade
Working in a range bound prices environment is a whole lot difficult than the markets with obvious trends and for getting the plans to work properly, one has to wait for the trend to settle. Once the trend gets a definable value, the trader can jump right in the market without any risk.
But what if you need to work in an even stricter environment? Well! That’s what Bolly Band Bounce is meant to do. For the purpose, a limit is implied in the form of Bollinger bands to keep an eye on the prices for a short period of time.
- Forex Dual Stochastic Trade
The Forex Dual Stochastic Trade strategy finds its application in the cases where a price trend gets a short term overextension. So, to observe this change more closely, such forex trading strategies make use of two stochastics, one of which is slow and the other one is fast. Both of these are to signal such occasion with their extreme values as 20% of slower one and 80% for the fast stochastic. Rest of the story is same: you wait; you watch for the value changes; and upon confirmation, you enter the market.
- Forex Overlapping Fibonacci Trade
One of the most favorite forex trading strategies for most of the traders, Forex Overlapping Fibonacci Trade approach, makes use of Fibonacci levels and that too of strong values and resistance for a known area. In itself, this strategy may not be much accurate as compared to other strategies, but when it is used in combination with proper confirming signals, then there can be no other strategy comparable to it in terms of accuracy.
- London Hammer Trade
It’s true that European trading sessions are characterized by the volatility of the trading patterns and the difficulty it puts up for most of the traders. Well! That’s why London Hammer Trade strategy was formulated. For the purpose, one has to observe the rejection bars, continuously, which are created due to resistance once the price outflows the range. Therefore, depending upon the Hammer direction, one needs to buy or sell while aiming 2:1 as profit to loss ratio.
- The Pop and Stop Trade
It can really be helpful to get your hands on the Pop and Stop Trade since it targets one of the most common “secrets”. Most of us do try to re-chase the price especially when it starts making long jumps and suddenly bounces away upside. Thus, when it tries to fall as quickly as it rose up, the trader has to suffer huge losses. And that’s what this strategy is meant to cure by helping the traders to determine the direction of price in times of breakthrough. If it’s striving to continue, then one can trade by taking advantage of such situations.
- The Drop and Shop Trade
In terms of concept, this Pop, and Stop Trade’s sister strategy is similar to itself. Whereas, the fore-mentioned idea makes use of upside situations while these forex trading strategies use downtimes to their benefits.
- Forex Fractal Trading
The Forex Fractal Trading strategy is based on the idea of observing the repeated patterns in a five-minute forex chart that repeat themselves in a timely manner. These patterns act as the premises of the price fractals thus making the study of price dynamics, an ease. Once the trader gets some idea of how the market is going to perform in near future, he finds two ways of trading fractals, one of which is by retesting and another one is by making a slip-through.
Hello everyone! This is Richard Daniels, a full-time passionate researcher & blogger. He holds a Ph.D. degree in Economics. He loves to write about economics, e-commerce, and business-related topics for students to assist them in their studies. That's the sole purpose of Business Study Notes.
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