Choosing a Forex trading strategy
One of the most important parts of Forex trading – even before you think about placing your first trade – is having a sound strategy in place. It is this overall strategy that will help determine each and every trade you make.
How you go about choosing a strategy will greatly depend on your overall aims. Do you want to pursue high risk for a fast return, or would you prefer to follow a lower risk strategy for long term gains? Will you be trading every day, or just every now and then? When will you be trading? And which currencies? There really are a myriad of factors to consider.
Contrary to what some claim, because each trader has different aims there is no one right strategy, only the best strategy for you. That’s why it’s so important to make sure it’s one you can stick with, through the ups and downs.
The following links provide general information about common strategies to consider when deciding your own strategy.
1. What’s a trading strategy?
An introduction to Forex trading strategies for beginners.
2. Two Common Strategies
Explore the difference between two popular trading strategies – Range trading and Trend trading
3. Top 4 for Successful Trades
A breakdown of four of the most important things that successful traders do to ensure they are a success
4. The Most Popular Entry Strategy
A quick guide to Support and Resistance Breakout strategies
5. Losing Strategies
Improve your own strategy by looking at why some common trading strategies fail
6. Not-so-sound Strategies
Some more examples of strategies that need careful consideration before you apply them to your own trading