All too often forex trader gets puzzled by big number of strategies and methods of trade. It is better to have professional guidance in that case. There is review of the most popular and effective forex trading strategies which bring income. However, risk management should be employed all the time.
Typically, forex traders have different intentions and goals when coming to the market. You should choose the strategy which would satisfy your needs and goals achievement plan. Practically, there is no point in application of the strategy which requires observation of the market during the London session in case you have to work during that hours. All the strategies are easy to follow and you are free to modify them any way you like.
Forex scalping system is one of the most popular and easiest strategies. According to this strategy the trader should simply pinpoint the major support and resistance point. Fibonacci retracement is very helpful in this case. As only the price reaches a major support point, you should go long. In case, it reaches a major resistance point, your task is to go short. Do not forget to use tight stops and small take profits. In such a way you will be able to get income on the bounce.
A forex hedging strategy implies buying of GBP/JPY and simultaneous selling of CHF/JPY. The profit comes from the interest rate differentials and price movement. In the result the GBP/JPY gets serious exchange interest because of considerable difference in rates. Of course, you have to pay interest on the short CHF/JPY, however, it is much less than on the long GBP/JPY.
Forex investments should be protected by profound knowledge of the market, price movement, data analysis and other skills. Every deal requires deep knowledge, analytical thinking and ability to switch from one strategy to the other depending on the different in market situation.
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