What is the Best Forex Trading Strategy?
The best forex trading strategy is not an absolute. I know the vast majority of traders would not agree with me. If you do your own research on this topic, I am certain you would agree with me. After all, who would want to do things all on your own?
If 95% of the people quitting trading are giving up because they have no money left, you know the remaining 5% are not making money trading.
The best forex trading strategy is having a strategy that you can continually employ. I believe the best traders in the world learn how to trade. How else could they become as profitable as they have become?
Logic gives me this forex trading strategy.
Trading before and during a trend is not something I can teach you. That you must learn for yourself. There are forex strategies that will help build your trading, but for me to make a living as a trader, I prefer to teach a strategy that will build my trading.
Personally, I don’t believe traders should be chased, because most of the day, a ” Ryan Communceck” is going to be in the market all the time. Being in the market is the best forex trading strategy.
To my strategy, a trader should only seek to trade as opposed to this chasing after the market. I pay attention to theincredible Support and Resistance.
I cannot tell you in this article who the best technical analyst on the planet is. You need to read the risk assessment post of course. Today, an intra day trader can only do this as his trades will usually be opened for only a few minutes. If you do not have this skill, you will need to send me an email so I maywellestimate if I would win a trade, and if you do not think you have this, I wish you the best of luck!
This last statement should not be necessary when investing in the stock market. When you buy a stock, you are hoping that the price may breakeven. Which means price may continue to rise. If you follow the forex, you always know that you have this price locked in.
This allows you to be able to stay in here as long as you like, because no matter how high price goes, your trade is a long-term one.
Even the ” construed price” of a trending market has an upper limit you take into in it. You can’t be within the barriers of the trend. Be careful getting into trends, but it is one of the best forex trading strategies.
So how should your trading strategy look like? Well, there are many tips to consider. Stong ones would include looking at a bigger timeframe than a 5 minute chart. I use the 1 hour chart for the majority of my trades.
One of my best forex trading strategies is watching the behavior of price action as it moves up and down on the higher time frame chart. This time frame lets me see the action of the FX market, much better than just looking at a 5 minute chart.
You can learn some techniques in determining if the market is about to turn or flat.
So, consider looking at longer timeframes for your entries, or you might call your entry a rendering faster time frame. If you do not know the answer to these questions, you should find a trading strategy or mentor who can.