Forex Trading Strategies By TSB TradingPosted on March 3, 2018 at 02:06 PM CET Forex News
Forex Trading Strategies That Work with TSB Trading
Have you ever feel JAMMED annoying to figure which forex trading policies you should use?Should you be a day trader, swing trader, position trader, news trader, scalper, or a combination of different forex trading strategies?It can be frustrating, right?
Because you’ve seen traders make money with different forex trading strategies. But… When you attempt it, it fails you.
Now, don’t worry.
Because in today’s TSB trading blog post, will share with you best types of Forex trading strategies that work and how to find the best one that suits you.
Sounds good?Then let’s begin…
Forex trading approachesthat work — Position trading
Position trading is a longer-term trading method where you can hold trades for weeks or even months.
The timeframes you’ll trade on are usually the Daily or Weekly.As a position trader, you mostlytrust on importantexamination in your trading (like NFP, GDP, Retail sales, and etc.) to give a prejudice.
Also, you might use technical analysis to better time your entries.
Let’s say:You analyze the fundamentals of EUR/USD and determine it’s bullish. But, you don’t want to go long at any price.
So, you wait for EUR/USD to come to Support before taking your position.
Now if your analysis is correct, you could enter at the start of a new trend before anyone else.
Now, let’s measured the pros and cons of position trading…
- Don’t need to apply much time trading as your trades are longer-term
- Less pressure in your trading as you’re not worried with the temporary price fluxes
- Favorable risk to reward on your trades (possibly 1 to 5 or more)
- Require a firm understanding of fundamentals driving the market
- Need a larger capital base because your stop loss is wide
- May not make a profit every year because of the low number of trades
There’s a trading strategy called Trend Following (which is similar to position trading).
The only variance is Trend subsequent is purely a practicaltactic that doesn’t use any basics.