The best positional trading strategies require immense patience and discipline on the part of traders. It requires a good amount of knowledge regarding market fundamentals. Below is a list of trading strategies regarded to be some of the top Forex trading strategies around and how you can trade them, so you can try and find the right one for you.

Did you know that you can learn to trade step-by-step with our brand new educational course, Forex , featuring key insights from professional industry experts? Click the banner below to register for FREE! One of the latest Forex trading strategies to be used is the pips a day Forex strategy which leverages the early market move of certain highly liquid currency pairs. The GBPUSD and EURUSD currency pairs are some of the best currencies to trade using this particular strategy.

After the 7am GMT candlestick closes, traders place two positions or two opposite pending orders. When one of them gets activated by price movements, the other position is automatically cancelled. The profit target is set at 50 pips, and the stop-loss order is placed anywhere between 5 and 10 pips above or below the 7am GMT candlestick, after its formation.

This is implemented to manage risk. After these conditions are set, it is now up to the market to do the rest. Day trading and scalping are both short-term Forex trading strategies.

However, remember that shorter-term implies greater risk due to the nature of more trades taken, so it is essential to ensure effective risk management. Below is a screenshot of the MetaTrader 4 trading platform provided by Admirals, showing the EURUSD H1 chart from the Zero. MT4 account:. Source: Admirals MetaTrader 4, EURUSD, H1 chart between 26 May to 31 May Accessed: 27 April at am BST - Please note: Past performance is not a reliable indicator of future results or future performance. The orange boxes show the 7am bar.

In some instances, the next bar did not trade beyond the high or low of the previous bar resulting in no trading setup unless the trader left their orders in the market. The effectiveness of the 50 pips a day Forex strategy has not been tested over time and merely serves as a platform of ideas for you to build upon.

Past performance is not a reliable indicator of future results. The best Forex traders swear by daily charts over more short-term strategies. Compared to the Forex 1-hour trading strategy, or even those with lower time-frames, there is less market noise involved with a Forex daily chart strategy. Such Forex trade setups could give you over pips a day due to their longer timeframe, which has the potential to result in some of the best Forex trade setups and potentially some of the most successful trading strategies around.

Daily Forex strategy signals can be more reliable than lower timeframes, and the potential for profit could also be greater, although there are no guarantees in trading. Traders also don't need to be concerned about daily news and random price fluctuations. The Forex daily strategy is based on three main principles:.

While there are plenty of trading strategy guides available for professional FX traders, the best Forex strategy for consistent profits and creating the most successful trading strategies can only be achieved through extensive practice.

Let's continue the list of trading strategies and look at another one of the best trading strategies. You can take advantage of the minute time frame in this Forex strategy.

In regards to the Forex trading strategies resources used for this type of strategy, the MACD is the most suitable which is available on both MetaTrader 4 and MetaTrader 5. You can enter a long position when the MACD histogram goes above the zero line. The stop loss could be placed at a recent swing low. You can enter a short position when the MACD histogram goes below the zero line. The stop loss could be placed at a recent swing high. Below is an hourly chart of the AUDUSD.

The red lines represent scenarios where the MACD histogram has gone above and below the zero line:. Source: Admirals MetaTrader 4, AUDUSD, H1 chart between 20 May to 31 May While many Forex traders prefer intraday Forex trading systems due to the market volatility providing more opportunities in narrower time frames, a Forex weekly trading strategy can provide more flexibility and stability.

A weekly candlestick provides extensive market information. Weekly Forex trading strategies are based on lower position sizes and avoiding excessive risks. For this strategy, traders can use the most commonly used price action trading patterns such as engulfing candles, haramis and hammers. One of the most commonly used patterns in Forex trading is the hammer which looks like the image below:.

The chart below shows the weekly price action of NZDUSD and examples of the patterns shown above. Source: Admirals MetaTrader 4, NZDUSD, Weekly chart between 19 August to 31 May Accessed: 27 April at pm BST - Please note: Past performance is not a reliable indicator of future results or future performance.

To what extent fundamentals are used varies from trader to trader. At the same time, the best Forex strategy will invariably use price action. This is also known as technical analysis.

When it comes to technical currency trading strategies, there are two main styles: trend following and countertrend trading. Both of these FX trading strategies try to profit by recognising and exploiting price patterns.

When it comes to price patterns, the most important concepts include support and resistance. Put simply, these terms represent the tendency of a market to bounce back from previous lows and highs. This occurs because market participants tend to judge subsequent prices against recent highs and lows.

Therefore, recent highs and lows are the yardsticks by which current prices are evaluated. There is also a self-fulfilling aspect to support and resistance levels. This happens because market participants anticipate certain price action at these points and act accordingly. As a result, their actions can contribute to the market behaving as they had expected. Did you know that you can see live technical and fundamental analysis in the Admirals Trading Spotlight webinar?

In these FREE live sessions, taken three times a week, professional traders will show you a wide variety of technical and fundamental analysis trading techniques you can use to identify common chart patterns and trading opportunities in a variety of different markets.

Sometimes a market breaks out of a range, moving below the support or above the resistance to start a trend. How does this happen? When support breaks down and a market moves to new lows, buyers begin to hold off.

This is because buyers are constantly noticing cheaper prices being established and want to wait for a bottom to be reached. At the same time, there will be traders who are selling in panic or simply being forced out of their positions or building short positions because they believe it can go lower.

The trend continues until the selling is depleted and belief starts to return to buyers when it is established that the prices will not decline further. Trend-following strategies encourage traders to buy the market once it has broken through resistance and sell a market once they have fallen through support. In addition, trends can be dramatic and prolonged, too.

Because of the magnitude of moves involved, this type of system has the potential to be the most successful Forex trading strategy. Trend-following systems use indicators to inform traders when a new trend may have begun, but there's no sure-fire way to know of course.

Here's the good news: If the indicator can establish a time when there's an improved chance that a trend has begun, you are tilting the odds in your favour to use the best Forex trading system. Using this information that you have, you want to short the markets. You'll go down to a lower timeframe to look for an entry. The multiple price rejections you saw earlier in the higher timeframe, is pretty much this whole section over here:. You could be thinking a higher timeframe is in a downtrend, price is at resistance, this area of support is likely to break down, let me look for shorting opportunities.

Maybe you could look to short the breakdown of that swing low. This could be another opportunity to short. Hopefully, this gives you an idea of how intraday traders work. They usually get their bias on a higher timeframe, then get their entries on the lower timeframe. Because as a day trader, you have ample trading opportunities and you can be trading anywhere between 50 to times a month.

And if you have an edge in the markets 50 to trades will be enough for your edge to play out over time. The downside is that day trading can be stressful. It is stressful because you're watching the markets all the time, you're glued to the screen. You're always having to be aware of any potential news coming out, anything that could affect your trades, when it's the next trading set up coming in, etc.

This is something that a lot of day traders neglect. And chances are you're working fewer hours and it's less stressful. This is the opportunity cost that you have as a day trader. Because if you're a day trading, you would forego the opportunity of working elsewhere or making an income via some other methods. As a swing trader , what you're trying to do is to capture one swing in the market.

Let me illustrate to you what is one swing. For example, the market is in the range. Alternatively, the market could be in a trend with higher highs and higher lows. So one swing in the market could be buying near the lows and exiting near the highs. As a swing trader, you typically trade off the 1-Hour timeframe and above, maybe the 2-Hour or even 4-Hour timeframe. Since you're trading off this higher timeframe, you can trade more markets because the charts are only painted once every 4 hours on a 4-Hour timeframe.

You can trade anywhere between markets, it's possible. Your goal is just to capture that one swing. And the beauty of swing trading is that you don't have to endure the retracement that comes along with it. So in an uptrend, plot the Fibonacci Extension from the swing low 1 to the swing high 2 , and pull it back down to the swing low 3. Same goes for the 1. That's how you get your figures at those levels to get these different price projections. Which level do you pay attention to? To be conservative and to have a higher chance of getting out with a profit, you want to look to target the 1.

That's the most conservative measure. And if you want to give your trade, a little bit more room to run, 1. This are a couple of techniques that you can use to give you an idea to where the trending move might potentially end. And in this case, the price actually did even retest back to the 2. But again, there's no way to tell whether it's going to reverse from the 1. Generally, the more conservative approach is between 1. This is a technique to give you an idea of where to exit the trade for maximum profit potential.

Let's say you have an opportunity to go long. As a swing trader, where do you exit the trade? Well, this is a little bit different because now it's no longer a trending market. It's more of a range market. In a range market as a swing trader, you want to exit your trade before opposing pressure comes in. Now ask yourself, where will opposing pressure come in? Where would the sellers come in? If you look at the chart, sellers could possibly come in within this area where previous support could become resistance:.

This is a possible area to look to capture one swing in the market. In this case, this will be your one swing, buying from this low and exiting near this high:. Why most quarters? Because compared to day trading, you don't get as many trading opportunities for swing trading.

You need time for your trades to play out. If you're good and you have an edge in the market, you can make money in most quarters. It's possible to trade part-time because you don't have to be glued to the screen all the time.

For example, if you trade off the 4-Hour timeframe, you can just check the charts once every 4 hours, and you can trade it part-time. You won't be able to ride trends because as a swing trader, you're just going to keep trading one swing. You're gonna exit the trade before the opposite pressure and the retracement comes in. This is why you'll never ride trends.

You have to embrace it. This is something to be aware of for swing trading. What is position trading? It's like trend-following, riding trends in the market.

In this guide, I only intend to show you how I structure my trading by trading in the currency market. If you can give Forex Academy - 10 May, Before you start you may wonder why a consistent trading strategy and what exactly this means.

One of the biggest problems you will know Forex Academy - 3 May, Time, something that forex trading needs a lot of, and there are a lot of different things that you can be spending your time Forex Academy - 27 April, There's so much to know about scalping strategies.

Scalping can provide fast, unlimited profits, but does come with risk. Knowing how to choose the Scalping strategies on Forex are quite popular among beginner traders, although it is not really fully justified. High-frequency trading keeping the market position for Forex Academy - 15 April, We are on a mission here! The short answers If you are so keen on wiping your account off the map, you are welcome to follow this new series of articles that comprise Forex Academy - 14 April, We want you to have new ideas popping out about how you can trade different strategies or apply them directly, and that is exactly Heikin Ashi is a chart modification that transforms how candles are presented so a trader can see a trend more clearly.

Noise reduction is Customized strategies usually have rigid structures that are not performing well on other currency pairs or markets. This one we represent in this article The following strategy example is similar to our previous Heikin Ashi strategy, however, this one is more radical in noise reduction.

It is the In the final article of our five strategy series, we will present one of the most successful strategies containing two not-so-popular indicators.

Whatsmore, these Forex Academy - 30 March, Forex Academy - 3 March, If we refer to Dan Zanger, Rob Booker, among others, we can say that yes, that they have achieved high returns from relatively small Reddy Shyam Shankar - 5 January, Reddy Shyam Shankar - 28 December, Reddy Shyam Shankar - 17 December, Forex Academy - 12 December, Ichimoku is a popular indicator made by Japanese experts decades ago, yet, as with other products made in Japan, it is still usable today.

It is a composite indicator with several elements that are made to ensure high probability signals.

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If you are so keen on wiping your account off the map, you are welcome to follow this new series of articles that comprise And you set yourself up to try more good advanced trading techniques down the line. Below is a list of trading strategies regarded to be some of the top Forex trading strategies around and how you can trade them, so you can try and find the right one for you. Either they can be pure price action trading, which means they only rely on candlesticks and or chart patterns or a combination of other Forex indicators with price action. When it comes to price patterns, the most important concepts include support and resistance. This forex strategy works because forex currencies bought and held overnight will pay a forex trader the interbank interest rate of that country from which the currency was bought from. One will be the period MA, while the other is the period MA.

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