You are into forex trading and possess a windows phone. Do you think that forex will deprive you of the apps? Then you need not worry. Now you can trade with forex phone windows as per your ease. As a forex trader, one needs to get well acquainted with the strategies of the market. A windows phone helps you do the same.
Forex strategies - a brief overview:
Strategies are the plans which help a person reach his goal. The purpose of a forex trader is to get returns on his investment. Chalking out appropriate strategies will help a trader reach this milestone. Strategies vary from trader to trader. Experts recommend five best strategies for trading for mobile forex windows phone which are mentioned below:
- Fibonacci Pivot trade:
It is the combination of daily, weekly, monthly or even yearly pivots with Fibonacci retracements and extensions. With the help of forex phone windows, users can apply these combinations with daily pivots. However, one can extend this strategy to longer time frames as and when required.
- Dual Stochastic trade in forex:
A windows phone will facilitate a user to use a couple of stochastics – slow and fast. Using a mobile app one can combine it to pick areas where price is overextended as well as trending in short term retracement.
- The Blade runner Trade with forex phone windows:
It is considered to be a magnificent EMA crossover strategy which is suitable for all currency pairs and across all time frames. This approach tries to trade the retests and pick the breakouts in trade.
- The London Trade:
When the London market opens, currency prices become extra volatile. With the help of forex phone windows, you can take additional advantage of this market volatility. Most significant in the London session, this happens every time a session closes, or a new session opens.
- Bollinger Band Trade:
Investors use this strategy in a ranging market. This, when used in combination with confirming signals from a forex calendar, can yield greater profits. If Bollinger Bands intrigue you, then this is your perfect strategy.
The general strategies:
In addition to the above strategies, a forex investor should also have terms with a couple of the basic strategies of trading such as:-
- Day Trading:
Traders using mobile forex windows phone benefit highly from this strategy. A day trade continues for the full duration of the day and closes by evening. Day trading demands a trader to sit in front of the screen for the whole day.
Using a smartphone, a trader can figure out his lot size and set his stop loss in advance. The automated trading app will take care of the rest, and a trader is relieved from the hassle of the computer screen.
A predominantly active trade requires constant use of forex phone windows. In this form of trading, an investor needs to take rapid and immediate decisions to profit from any significant price fluctuation. A smartphone helps him in this process.
A Forex phone window is therefore immensely vital in increasing the accuracy and speed of your trade. It helps in chalking out strategies and determining prices of currency pairs to yield maximum profits.