Finding The Best Forex Strategy For You…
If you’re new to Forex and trading (or you’ve been around for a while but not found that perfect strategy that suits you) then our strategy guide is for you. It is designed to help you find the best Forex strategy to suit your personal circumstances.
This page will be constantly updated as new strategies are written up, so make sure you keep checking back!
So you may be wondering how you figure out which is the best Forex strategy for you.
There are a few things you should consider, when thinking about which strategy will best suit your needs. These include:
How much time do you have to spend at your trading desk? – Some trades require ‘babysitting’, other trades are more long term trades which won’t be as effected by the immediate market movement. You need to consider what kind of trader you are (or want to be) and use this to help you choose the best Forex strategy for you.
What is your personal risk appetite? – Some strategies will be more risky than others, for example, trades that involve using fundamentals and news analysis. Have a think about whether you are a high risk = high reward / loss type trader, or a slow and steady trader, who is happy with slower, lower risk growth over a longer period of time.
Technology – This sounds like an odd one, but some trades require multiple time frame monitoring, with this in mind it can be useful to have multiple screens etc, if you do not have this, it may be worth sticking to more simple trading strategies.
Most of the Forex strategies listed in our strategy guide, can be also used for analysing Crypto currency trades, each individual post will inform you if this is the case.
And just before you decide to dive into some heavy testing, remember, 90% of trading is all about mindset!!
So before you start any kind of demoing, I would highly recommend reading ‘Trading in The Zone‘ by Mark Douglas. Trading takes discipline and it is crucial to your success as a trader that it is mastered.