Maintaining a proper trading is not a simple piece of work. It needs planning and strategies. And you have to choose a reasonable and suitable strategy for your forex trading as this thing will boost up your confidence and confidence will lead your trade to be flourished.
When we talk about a strategy, there is not a one single strategy that every one of the traders has to follow but there are multiple of them that may suit to every person differently. It is a high chance that if one is successful with any one strategy and suggests you go with that, you might get failed. It can be a disaster for you. And may be the strategy which is beneficial for you, is not good for someone else. So, when we talk about forex trading strategies, answer can be in multiple options. As a forex trader, there might be some several ways to reach the goal but choosing one main way works best.
Some strategies listed below are for both short time and long time and are proven to be best for last few years. There is nothing worse than losing your time in trading as it is a non-refundable thing. So, here are some of the trending strategies that will surely help you to focus on one thing that you think you are suitable for.
Forex Daily Charts Strategy
It is the simplest kind of strategy as it does not involve too much market traffic compared to other strategies. The best forex traders prefer working with daily charts over other short-term strategies. In daily charts, the trade is reliable, and profit is much greater than others. There also is no need to get in touch with daily market fluctuations.
You just have to find long moves in forex markets and identifying highs and lows. You should stay focused and patient and be aware of large intraday swings in the market as well.
Forex 1-hour Trading Strategy
The 60-minutes time frame can be beneficial for you. You can trade in EUR/USD, USD/JPY, AND AU D/USD as these are easier and reliable.
There are no indicators require for this strategy. It is easy to follow and understand and it has just one-time frame, so you have to just work for one time in the day which is some specified time slot. You must be consistent with one-hour trading strategy and the benefits will be higher.
Forex Weekly Trading Strategy
When every other trader is stick with short-term trading for getting more benefits in terms of profit, the weekly forex strategies provide more stability and flexibility. By using the weekly trading strategies, high risks can be avoided. It assumes lower position size and its focus is to investigate the trends and put moving averages and extreme point in the weekly charts. The main aim of weekly trading is to gain potential steady profits. Weekly traders bear opportunity costs as they have to deposit fund which could be more profitable in short-term trading.