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Forex trading strategy

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Forex Trading Strategy
The Forex Secret
What is a Forex Trading
Strategy?
 A forex trading strategy is a technique used by
a forex trader to determine whether to buy or
sell a currency pair at any given time.
 Forex trading strategies can be based on
technical analysis, or fundamental, news-
based events.
 The trader’s currency trading strategy is
usually made up of trading signals that trigger
buy or sell decisions.
 Forex trading strategies are available on the
internet or may be developed by traders
themselves.
2
9/10/2020
ADD A FOOTER
Basics of a Forex Trading
Strategy
 Forex trading strategies can be either manual
or automated methods for generating trading
signals.
 Manual systems involve a trader sitting in
front of a computer screen, looking for trading
signals and interpreting whether to buy or sell.
 Automated systems involve a trader
developing an algorithm that finds trading
signals and executes trades on its own.
 The latter systems take human emotion out of
the equation and may improve performance.
3 A FOTER
Creating a Forex Trading
Strategy
 Many forex traders start with a simple trading
strategy. For example, they may notice that a
specific currency pair tends to rebound from a
particular support or resistance level.
 They may then decide to add other elements
that improve the accuracy of these trading
signals over time.
4
Creating a Forex Trading Strategy
There are several different components to an effective forex trading strategy:
Selecting the Market
Traders must determine what currency pairs they trade
and become experts at reading those currency pairs.
Entry Points
Traders must develop rules governing when to enter a
long or short position in a given currency pair.
Position Sizing
Traders must determine how large each position is to
control for the amount of risk taken in each individual
trade.
Exit Points
Traders must develop rules telling them when to exit a
long or short position, as well as when to get out of a
losing position.
5
Trading Tactics
Traders should have set rules for how to buy
and sell currency pairs, including selecting the
right execution technologies.
When Is It Time to Change
Strategies?
6
 A forex trading strategy works really well
when traders follow the rules. But just like
anything else,
 one particular strategy may not always be a
one-size-fits-all approach,
 so what works today may not necessarily
work tomorrow.
 If a strategy isn't proving to be profitable and
isn't producing the desired results,

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Forex trading strategy

  • 2. What is a Forex Trading Strategy?  A forex trading strategy is a technique used by a forex trader to determine whether to buy or sell a currency pair at any given time.  Forex trading strategies can be based on technical analysis, or fundamental, news- based events.  The trader’s currency trading strategy is usually made up of trading signals that trigger buy or sell decisions.  Forex trading strategies are available on the internet or may be developed by traders themselves. 2 9/10/2020 ADD A FOOTER
  • 3. Basics of a Forex Trading Strategy  Forex trading strategies can be either manual or automated methods for generating trading signals.  Manual systems involve a trader sitting in front of a computer screen, looking for trading signals and interpreting whether to buy or sell.  Automated systems involve a trader developing an algorithm that finds trading signals and executes trades on its own.  The latter systems take human emotion out of the equation and may improve performance. 3 A FOTER
  • 4. Creating a Forex Trading Strategy  Many forex traders start with a simple trading strategy. For example, they may notice that a specific currency pair tends to rebound from a particular support or resistance level.  They may then decide to add other elements that improve the accuracy of these trading signals over time. 4
  • 5. Creating a Forex Trading Strategy There are several different components to an effective forex trading strategy: Selecting the Market Traders must determine what currency pairs they trade and become experts at reading those currency pairs. Entry Points Traders must develop rules governing when to enter a long or short position in a given currency pair. Position Sizing Traders must determine how large each position is to control for the amount of risk taken in each individual trade. Exit Points Traders must develop rules telling them when to exit a long or short position, as well as when to get out of a losing position. 5 Trading Tactics Traders should have set rules for how to buy and sell currency pairs, including selecting the right execution technologies.
  • 6. When Is It Time to Change Strategies? 6  A forex trading strategy works really well when traders follow the rules. But just like anything else,  one particular strategy may not always be a one-size-fits-all approach,  so what works today may not necessarily work tomorrow.  If a strategy isn't proving to be profitable and isn't producing the desired results,
  • 7. Traders may consider the following before changing a game plan: 7 1. Matching risk management with trading style: If the risk vs. reward ratio isn't suitable, it may be cause to change strategies. 2. Market conditions evolve: A trading strategy may depend on specific market trends, so if those change, a particular strategy may become obsolete. That could signal the need to make tweaks or modifications. 3. Comprehension: If a trader doesn't quite understand the strategy, there's a good chance it won't work. If a problem comes up or a trader doesn't know the rules, the effectiveness of the strategy is lost.
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