4 Of The Most Common And Successful Forex Trading Strategies

Working in the field of Forex trading, you get to enjoy the freedom of trading choice offered. You can choose from a variety of currencies, timeframes and strategies to work with. When it comes to strategizing, Forex traders can get incredibly creative! Be it implementing an existing plan, or creating your own unique approach, the roads to success are many and you can always make one of yours. Over the years, several trading strategies have been implemented and obtained a healthy success rate.

The Best Forex Trading Strategies To Implement In 2019

Here are the handpicked few that you can implement in the coming year and see tremendous results:

1) Scalping: A quick-paced trading Forex strategy, scalping is a technique employed on shorter timeframes. Scalpers aim at making small profits which later compound into one big winning. By keenly following market changes on the most minute windows, scalpers capitalize on these small movements. While incredibly profitable unlike common belief, this strategy can be taxing, since traders have to demonstrate high focus and pin-point precision. You can practice and master this method with a good Demo Trading Account at hand!

2) Day Trading: A simple yet amply effective Forex Trading Strategy In Nepal, day trading is a technique where traders buy and sell within the same day. Without any overnight carrying over, day traders aim at opening and closing trades within smaller timeframes. Day trading is one of the most common strategies seen today because of their easy implementation and high success rate.

3) Trend Trading: A long-term approach, trend trading is just as the name suggests - following and capitalizing on a trend. Through thorough fundamental and technical analysis, traders speculate on the trends a market will adopt and respectively place their calls. With indicators like Moving Average, RSI and Bollinger Bands, the process of analysis has been made simpler! A relatively easy-to-implement strategy, trend trading can be a huge success when done right.

4) Swing Trading: With support and resistance lines as two opposites, traders capitalize on the major swings made by the Forex markets. With a good range picked, you ride the tide till it is profitable and exit it as it reaches closing. By continuing this process, which is essentially a blend of day and trend trading, you make a good winning!

Once you have practiced these Forex strategies on a demo trading account, they are all good to be implemented! Every plan is profitable when implemented right. With an experienced broker by your side, you can start drafting your own strategies! Reach out to WesternFX today, and avail our Forex Trading Strategies In Nepal. Our experts will guide you through every trade, and assist with every need to make sure your trading approach is success-worthy!