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Forex trading strategies
Forex trading strategies, a strategic word in itself that carries a deep connotation, it refers to a long-term, tight plan that is intended to achieve goals and objectives, but what is meant by trading strategies?
In the Forex market, traders seek to achieve the largest possible profit in the shortest period of time and with the least possible effort, as it is not logical for the trader to analyze daily price trends and movements with all tools and methods of analysis and relying on all available indicators, in this waste of time and distract the mind and waste For effort.
In fact, money market experts, inspired by their long experience in trading, have been able to identify some of the secrets of this market, and have developed strategies for trading based on specific data that they have strengthened with time and practice. They tested it well and recognized its strengths and strengthened it, just as they recognized their weaknesses and tried hard to overcome them, and indeed such strategies have helped to shorten time and effort, in addition to achieving profitable profits.
The websites are filled with a large number of different strategies, including currency trading strategies, stock speculation strategies, gold trading strategy, oil trading strategy, and mineral trading strategy. Part of these strategies is provided free of charge by owners and another part is sold for a money.
How do I choose the best forex trading strategies?While browsing the Internet, and looking for topics related to trading in financial markets, it is natural that you have read a lot about monuments under the name of trading strategies. Unfortunately this already exists, as the beginners’ need to exploit such lies is exploited, but in return there are successful trading strategies that have already contributed to making profits for many traders.
Types of Forex trading strategiesTrading strategies are divided according to a number of foundations. For example, depending on the duration factor, it can be divided into three types as follows:
  1. Scalping strategy – daily trading strategyThese are short term trading strategies, which some traders call daily trading strategies. This is because such strategies adopt very short deals that are opened and closed on the same trading day. Some “scalping” deals take a period of time ranging from a few minutes to 24 hours.
The important thing is that this type of traders tends to have psychological comfort, as they close all open trades at the end of the trading day, regardless of their outcome, whether they achieve profits or losses, and start a new trading day with new deals.
  1. Swing strategyThese are mid-range strategies, in which deals take a period of time from one day to a month. This strategy is distinguished from scalping as it saves time and effort, but it may be less in relation to profits. In fact, the profits in any strategy depend on the trader’s ability, experience, and strength of the strategy he is using.
Scalping traders tend to provide a source of income, which is why they try to get the most profit possible by opening the largest possible number of deals, on the contrary the goal of swing traders is likely to provide an additional source of income or accumulate wealth, in addition to that they are not Free to trade and not have enough time to execute daily deals.
  1. Long-term strategies
    It is where transactions take a long period that lasts for several months or years, such as these traders try to enter into deals from historical levels, prices did not reach them for long periods, in other words they try to enter with the beginning of the trend and get out of the deal at the end of the direction regardless of the time period that The deal may take.
This type of traders tends to be completely comfortable and their goal of financial investment is to accumulate wealth.