Top 5 Forex Strategies
If you’re looking for the best forex strategies, you’ve come to the right place! The title of this article probably was a bit of a giveaway 😉
Usually the free trading forex strategies have about the same value as the price you pay for them. They have not been tested and other than the odd review, there isn’t much proof of their reliability.
However, the top 5 best forex strategies posted below are the best trading strategies that have been tried and tested by Navin Prithyani (at Urban Forex and Forex Watchers).
Not every great strategy will work out for every trader. It’s the trader that has to make it work, right? Part of this is knowing when to apply which strategy to the given market condition – of the time you’re trading. Adapting to all market circumstances – and even knowing when to stay aside and not trade – is a key factor. This will require a lot of persistence and studying. So it certainly isn’t just about picking up a strategy and applying it. It is also about education.
The Pro Trading Strategy helps traders on how to identify key candles to define the right time to enter the market. This is something that is usually missing from most strategies. The strategy is complemented by Support and Resistance lines. The strategy has been around for a number of years and has had an update in June 2016 and is still one of the best forex strategies.
The phrase ‘slow and steady wins the long race’ (or the story about the tortoise and the hare), fits the description of this strategy perfectly! Instead of aiming for fast gains and risking major losses along the way, this strategy focuses on trading conservatively and gaining consistently.
This strategy’s concept is simple and easy to follow and for that reason is one of the best forex strategies. The entry is very straightforward and the different exit options provide potential for each kind of trader. Just be patient, find the right setup in the market and go for it.
This is not exactly a strategy for beginners. It will take some experience in chart and pattern reading to make it work. However, once this works, it can lead to some very substantial trades. Some very successful traders have incorporated this technique into their trading and with terrific results. It works on any time frame and can be seen over and over on any chart.
The pivot point technical indicator is one of the few forward looking technical indicators for trading Forex. This makes this strategy very powerful. This forex trading system is ideal in many market conditions, even in ranges.