Forex Various trading strategies in forex

[FXOchartist]

Forex trading is a red product in the financial markets, which means investors may lose half or all of their money during trading. This may be closer to speculative trading. However, there are various trading methods that traders apply to gain profits.

The most common and widely used strategy is learning how to trade on support and resistance. The support and resistance areas themselves are considered to be areas that prevent prices from moving further, in these areas rejection often occurs so that they are potential areas for gaining profits.

However, the different ways to determine support and resistance can make a difference in perspective when looking at support and resistance.

Several methods used to determine support and resistance refer to the FXOpen blog such as Trendline, closest swing points, round numbers, Fibonacci retracement, Pivot points, and dynamic lines such as using MA or Bollinger bands.

Apart from this strategy, it turns out there is also a unique strategy called Triple Gap or San-Ku. This term may or may not be Japanese. I just discovered this term in an FXOpen blog article.

San-ku is a triple gap or three gaps that have the potential to provide a reversal trading signal. This pattern is characterized by three candlesticks with gaps between one candlestick and the next candlestick in a row.

In my opinion, this pattern rarely occurs during trading with FXOpen UK, I have never encountered a triple gap formation at one time. Most often you encounter a gap on Monday after the market opens.

However, if for example, we encounter a San-Ku or Triple Gap pattern, this may provide a strong reversal signal considering that the trend will have a peak

 

[Asahi]

There are different strategies to be applied in Forex and among them risk management strategy is the best one. The use of leverage, risk management policy, money management, utilizing tactics of trading platforms are things to learn to develop the basics of a trader. FXOpulence broker provides 1:500 leverage, tighter trading spread and fast trade execution facilities. This is a highly liquid broker as they allow synthetic indices and crypto to be traded at the lowest trading spread.

 

[FXOchartist]

Learning more strategy models in forex can broaden traders' perspective on the market, but I think it's better in live trading to focus on one trading strategy, this can minimize risk and be more effective in building a solid strategy with a much higher potential gain. .

 

[Nite]

When trading on support and resistance, traders aim to buy at support levels when the price is expected to bounce back up, and sell at resistance levels when the price is anticipated to decline. This strategy is based on the assumption that historical price patterns tend to repeat themselves, and that these levels act as psychological barriers for market participants. To effectively trade on support and resistance, traders often use additional tools such as candlestick patterns, volume analysis, or oscillators to confirm their predictions.

 

[moonchild]

Learning more trading strategies does not guarantee success, I probably know a mother of strategies off my head that can be used to trade the markets but the problem is that's rarely the best way to trade the markets, because it is full of noise and ambiguity and also uncertainty, what a strategy will do to you is make you feel invisible and also expect a market to make a certain move just because your strategy said so.

As a trader I think you have to grow to the point where you don't even have a strategy and you only trade what you see in the market

 

[FXOchartist]

When trading on support and resistance, traders aim to buy at support levels when the price is expected to bounce back up, and sell at resistance levels when the price is anticipated to decline. This strategy is based on the assumption that historical price patterns tend to repeat themselves, and that these levels act as psychological barriers for market participants. To effectively trade on support and resistance, traders often use additional tools such as candlestick patterns, volume analysis, or oscillators to confirm their predictions.

Strategy based on support and resistance is widely used among traders, but because there are so many ways to determine support and resistance zone level, it makes different perspective and this zone is not exact price, I prefer to see this as a zone not price because price could be more dynamic.

 

[FXOchartist]

Various trading strategies in forex do not mean we have to use them all, in fact, many pro traders recommend focusing on one strategy because studying it in more depth can make a big contribution to trading performance and results. Whatever it is, risk management must be an important concern in trading because after all the market can move dynamically.

 

[FinTrader]

To trade successfully, you need to create your own trading strategy. And often other people’s strategies serve as the basis for creating your own strategy, when positive aspects are selected and combined into your own trading strategy.

 

[FXOchartist]

Using your own trading strategy is certainly more comfortable to implement, but there is also no harm in studying other traders' strategies, but only to increase your trading insight, in practice to be successful, it is better to focus on one strategy and carry out all the rules with full discipline, this may not be the case. It is not easy for all traders to always be disciplined. Indeed, discipline does not guarantee success for traders, but all successful people are those who are disciplined in their work.