When you are thinking of best forex strategies to suit your style of trading it is natural that you will be bombarded by a plethora of strategies. You can either pay for such forex strategies or devise a method of your own to suit your choice. If you choose to pay for a forex strategy you might be able to trade for a certain time period. At the same time you might be out of sync with intricacies of this market. So here is are top 10 forex strategies to help you out of your dilemma
1. Price Action is one of the top 10 forex strategies which you can follow:
In the 10 forex strategy price action focuses on the pattern of the movement of the currency pair. Traders choose this as it’s easy to understand and implement. You can easily read the charts, candlesticks and various other indicators
2. Trading forex fractal is the game-changer:
Trading this forex Fractal is a game changer in the top 10 forex strategy. You have to study the fractals to ascertain the changes or ups and downs in a price line which are repeated in a small time frame and which can be repeated along a longer time frame.
3. Scalping is for the traders who opt for small profits:
If you are a trader who is willing to trade only for small profits then scalping is the best strategy for you. As it focuses on small price changes in the currency pair.
4. You can use Day Trading to ensure your safety:
Day trading is one of the safest top 10 forex trading strategies. Because of which they allow traders to enter and exit a transaction within a day at the cost of smaller volume of profit. This helps you to reduce your losses.
5. Trading with trend:
This strategy is meant for traders who choose to trade as per changes in price of currency pairs. Whenever they see an uptrend it acts as a trigger for them to enter a transaction while a down trend helps them exit one.
6. Using Fibonacci Pivot Points:
You can use Fibonacci Pivot Points to determine potential movements of prices of a currency pair. You can use the previous movements to predict the future movement of the price line.
7. News Trading Strategies:
In this type of forex trading strategy the traders look towards the economic news regarding the currency pair. This is a risky form of strategy for a new forex trader . On the other hand, it can be very profitable for someone who is forex market veteran.
8. Bollinger Bands Trading:
The Bollinger Bands Trading is a forex trading strategy used to figure out the highs and lows of a currency pair. It has the help of a band which is relative to them. The high prices are at the higher level of the band while the low prices correspond with the lower level.
9. Blade runner Trading Strategy:
This is strategy is a variation of the price action strategy. In this you combine it with tools like pivot points, candle sticks charts and EMAs.
10. Head and Shoulder Charts:
This is one of the simplest strategies in the top 10 forex strategies. As it requires you to have the ability to read charts. Evidently you notice an uptrend for a span of time then it indicates a “shoulder”. As a result it will lead to a “head” or a profit for you.
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