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๐๐จ๐ฐ ๐ญ๐จ ๐๐ก๐จ๐จ๐ฌ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐ญ ๐
๐จ๐ซ๐๐ฑ ๐๐ซ๐๐๐ข๐ง๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ฒ
Forex trading is all about eliminating the losing trades and achieving more winning ones.
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Before discussing trading setups and possible strategies, we need to first understand why one would consider trading Forex in the first place. There are two main reasons: hedging and speculation. Hedging refers to companies protecting themselves from losses. They get their daily profits from any overseas country (that has paid revenue in a foreign currency). Then, they transfer it back to their own country, expecting fluctuation in the currency. This practice isnโt really relevant to Forex strategies.
On the other hand, speculation refers to predicting a move that a company might make in a certain situation. If done correctly, these predictions greatly improve trading results.
Speculation is what day trading is all about. With the help of decent strategies, you can progress in the Forex trading world and ultimately develop your own trading strategy. The downside is that this is a time-consuming and difficult process.
The good news is that there are pre-made strategies available to try in the Forex Market!
Although it is better to play it safe, especially if youโre new to the game, you need to change your tactics from time to time. This may allow you to see a profit margin you could have missed otherwise.
Here we have a few methods that will help you quickly change tactics and gain pips. Weโre going to provide you with an overview of strategies that have worked for many years, so that you can research the ones that are of interest to you. These are the Forex trading strategies that work, and they have been proven to work by many traders.
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This is suitable for all timeframes and currency pairings. It is, at this moment, one of the trending strategies in the market. The Bladerunner Trade is a price action strategy.
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This trade uses daily pivots only. However, it can be extended to a longer timeline. It combines Fibonacci retracements and extensions. Fibonacci trade can incorporate any number of pivots.
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This strategy is perfect for a ranging market. If you use it in combination with confirming signals, it works really well. If you are interested in Bollinger Bands strategy, this one is definitely worth checking out.
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These strategies are a favorite among many traders. The reliability tends to be a bit lower, but used in combination with appropriate confirming signals, they become extremely accurate.
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Trying to chase the price when it goes upside rarely works. That is, unless you know this trick. This Forex trading strategy gives you a simple tip so you know whether the price will continue to rise or decrease.
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๐จ๐ซ๐๐ฑ ๐
๐ซ๐๐๐ญ๐๐ฅ
This is more of a concept rather than a strategy, but you need to know this if you want to understand what the prices are doing. This offer you a lesson in market fundamentals, which will really help you to trade more effectively.
Currency trading strategies are a game of trial and error. It may be worth trying out the strategies from list above to see if any work for you. However, we will look at two further strategies which tend to be more common than the ones previously mentioned.
Whatโs more, they have been consistently proven to work.
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Many consider scalping to be tiresome and time-consuming. Indeed, not every trader can successfully pull it off. It may really seem that scalping takes the fun out of the best Forex strategy.
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