Profitable strategies in Forex trading are the strategies, which are adjusted to the individual requirements of a trader, easy to use and can bring stable profit.
This type of strategies is developed by traders all over the world. Each strategy is aimed to bring profit and gives a trader the instructions on actions in different trading situations.
There are many good strategies at Forex and their common features are reliability and steady profit. Some of them are easier to learn and practice, some are more difficult, so it is a job of a trader to make a choice.
Some strategies are more suitable for quiet and reserved traders; some of the strategies are preferable for the real gamblers, who like risk.
We would recommend to try a few of them before you make up your mind and decide what strategy suits you the most, and which of them you will use in future.
Three most popular strategies in the international Forex market
SCALPING – a strategy for the people whose motto “Cheek brings success”
One of the profitable tactics at Forex trading is scalping. This strategy is complex and it is difficult to master it. At the same time it can bring high profit.
Scalping is based on a principle of permanent opening and closing trades within short time periods.
The total profit is gained because of big number of open trades. So, despite the low earnings from each separate transaction, total profit is often high. Scalping is suitable for traders who prefer fundamental analysis and has a small initial capital.
BREAKOUT TRADING is a simple, easy and safe strategy
The percentage of successful trades performed with this strategy about 70%. This strategy is easy to learn, so it is very popular among the beginners.
TRADING NEWS strategy is also a reliable type of trading
This strategy is based on fundamental analysis and identification of buy and sell signals.
This strategy requires skills of working with a calendar of the international currency market and understanding what events can have the biggest influence on the price movement.
Disadvantage of this strategy is a high risk in case of market instability.
However, if a trader masters this strategy really well, he/she can earn big money.
Nobody knows how matters will go, or ensure you a business fortune forever. However, hard work, training and constant practice will teach you how to achieve success at Forex.
One and same strategy can be profitable for one trader and a failure for the other. A trader shall carefully and thoughtfully choose and adjust a strategy suitable for him/her and be patient, consistent and wise. Remember, fortune favours the brave, and we will also add hard working.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.