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What is Forex Strategy

Table Of Contents

  1. What kinds of trading principals do exist
  2. Forex day trading strategies and others

Many specialists consider the Forex strategies to be the most principal and important part of trader’s work. There are oodles of Forex strategies that can fix any trader and any current situation.

Some strategies use 5 indicators and more and others do not use any indicators at all. You should decide what you like more and what is more efficient for you.

What kinds of trading principals do exist

The first kind of treatments is the systematic one that means the strict compliance with regulations. The majority of Forex strategies are systematic. It is important not to break the rules and not to skip the deals. Every deal may become the profitable one, so you shouldn’t miss the opportunity. Experienced Forex traders know that the market is dangerous and full of temptations.

You may use the automatic Forex strategies, also called “advisors”. Usually the advisors are developed, using famous strategies by experienced Forex brokers and contain the entry and exit points’ descriptions. After the advisor’s installation the program automatically opens and closes the deals. It fully excludes the human factor. However many Forex traders prefer to analyze the deals by themselves.

Another trading principal is the discretionary one. This is considered to be more advanced level of global Forex trading. Usually the Forex strategies, based on discretionary principal, are complicated. The reason is the absence of clear rules. This strategy requires the Forex trader to understand the nature of the market processes. The experience is required as well. This strategy is rather unpredictable for beginners.

Forex day trading strategies and others

The time interval is important too. You should determine the period, when you is able to attend the market. Forex day trading strategies and week trading strategies are convenient for almost every Forex trader. If you are able to spend much time for trading, you should try 5-minute Forex trading strategies. The less the time interval is, the more deals you will close. The short time intervals contain more false alarms. The specialists do not recommend the beginners to try the scalping Forex strategies. Details about the strategies and the recommendations to use them you may read in the professional Forex brokers’ sites, forums and blogs. Start with basic ones and just practice till you become matchless.