In forex trading, traders study and develop trading strategies in an effort to achieve consistent profits. How to achieve this goal is not easy considering the dynamic market. However, choosing a trading strategy that suits the trader's personality can provide comfort in trading.
In forex trading, there are several types of strategy styles such as scalping, day trading, swing trading, and position trading. Furthermore, in the practice of trading styles, traders may use these strategies in the form of trend following, Mean Reversion, Momentum trading, and breakout trading.
How to choose the best trading strategy for traders?
Achieving success from forex trading is not instant, it requires a long time and testing strategies that suit each trader's personality. The problem that most often occurs is the trader's lack of discipline in implementing strategies to suit risk tolerance. In the strategy search phase, traders often easily change one strategy to another because of one failure.
Various forex strategies can be studied, such as a combination of VWAP and RSI indicators, Fibonacci and Stochastic, Bollinger Band Squeeze and MACD, Keltner Channel and RSI Momentum, or Breakout and retest. Learn more about these strategies at here.
However, there is no perfect strategy that guarantees consistent profits in forex trading, therefore, apart from learning trading strategies, it is also important to always maintain risk tolerance. I prefer using a fixed stop loss in this case rather than other methods such as hedging because it is easier to measure risk tolerance.
In forex trading, there are several types of strategy styles such as scalping, day trading, swing trading, and position trading. Furthermore, in the practice of trading styles, traders may use these strategies in the form of trend following, Mean Reversion, Momentum trading, and breakout trading.
How to choose the best trading strategy for traders?
Achieving success from forex trading is not instant, it requires a long time and testing strategies that suit each trader's personality. The problem that most often occurs is the trader's lack of discipline in implementing strategies to suit risk tolerance. In the strategy search phase, traders often easily change one strategy to another because of one failure.
Various forex strategies can be studied, such as a combination of VWAP and RSI indicators, Fibonacci and Stochastic, Bollinger Band Squeeze and MACD, Keltner Channel and RSI Momentum, or Breakout and retest. Learn more about these strategies at here.
However, there is no perfect strategy that guarantees consistent profits in forex trading, therefore, apart from learning trading strategies, it is also important to always maintain risk tolerance. I prefer using a fixed stop loss in this case rather than other methods such as hedging because it is easier to measure risk tolerance.
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