HALAMAN SELANJUTNYA:
Are There Any Forex Trading Strategies That Work?Well, of course there are Forex trading strategies that work! Naturally, since we are dealing with a living market influenced by a host of factors, a 100 percent success rate is impossible. But it is not uncommon for an 85-95 percent success rate to be encountered. Note, however, that there isn't a single universal winning strategy that everyone uses worldwide. There are countless trading strategies based on a trader's personality, understanding of the market and the currencies exchanged.
As you know by now, all Forex trading strategies that work have nothing to do with emotion. Trading while emotional, angry, tired, sick and so on, is not at all recommended. They influence your perception of hard facts, deform those facts and ultimately lead to uninspired decisions. A calm, lucid mind is required for a successful trade, as well as mountains of discipline. Set some rules which you will follow religiously, but be prepared to change them if the results yielded are not satisfactory.
Next is the time of day you trade and the currencies involved. Know your brain's maximum and minimum periods of activity, as well as when certain markets open. For example, any trades involving the USD can be performed during 8:00 am to 5:00 pm EST, as that is when the New York market functions. Furthermore, avoid filling the chart with tones of indicators; taking the overly complicated route usually ends up in failure.
Also, never trade without setting the stop loss order, as well as the take profit one. In case you don't have enough time to watch the market closely, you should opt for an automated trading program which does the work for you, or go with a managed account. These are two of the best Forex trading strategies that work.
In case you haven't been successful in finding the right trading strategy on your own, the automated trading program option might be the best thing for you. These pieces of software come with a host of strategies mirroring those of experienced, real life traders, thus saving you a lot of trouble. This allows you to take your time and analyze those strategies and adapt them to your case, or you can leave it at that if the results satisfy you.
The quest for Forex trading strategies that work is not an easy one, but it certainly is an interesting and fulfilling one; the key is to keep persevering.