Top 4 Trading Strategies in the Forex Market Used By Beginners and Experienced Traders
Are you one of the many traders who are constantly looking for an effective forex trading strategy to use in the market? Are you lost with all the strategies that you’ve found? If you are looking for the perfect trading strategy then you came across the perfect article that can give you an array of options.
Why is it necessary to use a trading strategy? Is gut feeling and intuition not enough to determine the right entry and exit points? Luck is not always the solution available. In some cases, you may be lucky enough to land some profit while using pure luck. But these instances are so isolated and the tendency to gain profit is much smaller than the losses that you can possibly achieve. As a matter of fact, forex strategies are not merely for beginners in trading. Top Forex traders actually use these strategies to increase their chance of getting a decent profit.
Trading Strategies in the Forex Market
Oz Trading Strategy
The name rings a bell because of the story of the “Wonderful Wizard of Oz”. But actually, there are no connections between this trading strategy and the story. It is just that, this trading strategy and the story are both quite popular. It is very effective that Oz trading strategy has become the favorite of many well-known and successful traders. This trading strategy opens a long or short position whenever the price starts to reverse.
Easy Scalping Strategy
This trading strategy makes use of ‘slices’ of pips that cause small changes in the market price. Unlike Oz trading strategy, scalping is for traders who like to make quick and risky decisions. Traders using this strategy refuse to wait to profit in the market.
The Turtle Soup Trading Strategy
The unique name of this strategy was from a story in which a group of novice traders with the name “Turtle traders” were able to make 100 million dollars just in a short period of time. They made it possible by following a particular set of rules which was created by two professional traders.
Trend Trading tips by Victor Sperandeo
Victor Sperandeo is a professional trader who developed a simple method used in trend trading named “changing trends in the one-two-three”.
The Forex market is attracting more investors from all over the globe due to its availability and ease of access. Moreover, the liquidity in the market is really high, the reason why traders find it stable to trade in the forex market. But luck is not the only basis to gain a good amount of profit in the market. You also need to have a concise Forex strategy that is tested and proven effective by professional traders.
The truth is, forex trading is not something easy as it looks or as advertised by other profiting companies. Every month, there are a lot of traders who enter the market only to get disappointed with the outcome. A huge number of beginners fail in the market because they are not prepared and lack knowledge about trading.