Top 10 Forex Strategies
Choosing the right strategies is probably the most critical aspect of Forex trading as it decides whether you succeed. Our site offers several guides that help you come up with the right strategies.
Following is a list of few strategies explained in brief that are sure to help you gain profits more frequently.
Forex Trading Strategies
It is important for a forex trader to be able to come up with ideal strategies, but it is not possible to calculate them hundred percent accurately. Moreover, there also frequently tends to be a difference in the results each strategy may yield, depending on several factors.
However, some strategies show better performance and give better results compared to the rest. It all just depends on the person who employs these strategies and how efficiently he or she does so.
1. Bladerunner – This strategy aims to get the breakouts through a repetitive series so they can be traded consequently. This strategy is exceptional and rather successful, suitable for a variety of currency pairs and timeframes.
2. Daily Fibonacci Pivot – This strategy concatenates Fibonacci styles as well as extensions with periodical pivots on a yearly, monthly, weekly and daily basis. The best part of this strategy is when these combinations are used with daily pivots. However, this strategy could be easily dragged into longer timeframes while allowing in more pivot combinations.
3. Bolly Band Bounce – This is currently one of the most favoured styles in the market. Even though the reliability may not be as good as the rest of the strategies, traders somehow achieve positive outcomes by using this along with confirming signals.
4. Forex Dual Stochastic – There are two paces, i.e. slow and fast that are involved in this trading strategy. They can both be used in a combination so as to choose areas where the price may be increasing but goes overstretched in a period of short-term retracement. At the time of returning, it gets involved in the furtherance of the same trend once again.
5. Forex Overlapping Fibonacci – Many traders in the forex trading world prefer this trading strategy even though it may not be a hundred percent reliable compared to the rest. This is because the strategy has several benefits if used with proper signals, which improve accuracy.
6. London Hammer – If you are a trader looking to make the best out of your opportunities, London Hammer style strategy would be ideal. This strategy can be used mainly if the price is believed to be going uphill yet strongly unidirectional, which could also most likely get a follow back from the resistance position.
7. The Bladerunner Reversal – This style is a reversal of the Bladerunner style, which is basically a trend that follows a certain strategy. In the reverse style, entries are chosen from scenarios where the trend inverses and the price begin to trade on the opposite side.
8. Pop ‘n’ Stop – This would be the ideal style for you in case you need to track the price as it goes uphill and faces the chances of a loss when the trend backtracks shortly after. In such a case, this style which is rather simple helps determine the trend and whether the price can be expected to move alongside the breakout. This is what you need to be aware of if you expect to make profits.
9. Drop ‘n’ Stop – This simple trading style trades savage at the time of breaking outs towards the downside.
10. Forex Fractal – This is not entirely just a strategy but is also a rather important aspect of market basics which you should be aware of in order to understand the nature of the price, why is nature so and what impacts the nature.
Traders use much more strategies apart from the ones mentioned above, but as has been mentioned earlier, they could simply grant a small description with a small proof that confirms the genuineness of the strategies. However, you will have to do a lot of research on your own before you use those strategies for your actual trades.
A number of new Forex brokers, both legal and illegal, continue to emerge every day as Forex trading keeps on
Introduction to Forex Trading Forex stands for foreign exchange and is basically a form of trading of several different currencies.