The most popular Forex strategies for trading with financial tools, currency trading and gains from the difference in currency pairs.
The experts have categorized a few main forex strategies in currency trading. Breakout strategy, forex range-bound strategy, turtle strategy, trend following strategy, day trading, scalping, position trading, and swing trading are among the most popular strategies for Forex. Each of them represents a specific style of play and their application depends on the level of experience possessed by the player, the expected results and the amount of the invested in capital market.
The forex strategies can’t be always used but you better get to know each of the in detail because this will help you feel more reassured when dealing with currency trading. The most famous forex strategy is the day trading and it is practiced by over 80% of the players. As the name suggests, this is a style of play within the same day, i.e. short-term opening and closing of position within one day. When using the day trading strategy the players follow the provided graphics in short time frames and take into consideration the trend of the daily graphic.
The second most popular type of play is the turtle strategy. The name of this strategy is derived by the name of an animal. This is the most patient and the most slowly style of play; it is the style of waiting the most appropriate moment. The player makes an entrance in the key trading moments and plays only in accordance with the trend, waiting for the moment to make a profit. Here we are talking about waiting within different periods of time – days, weeks, months and even years. This type of currency trading is believed to be safer than the other strategies because of the prolonged waiting for an appropriate time to close positions. The turtle forex trading strategy is appropriate for experienced players who can be patient, players who have a perfect control over their emotions and players who can choose the right time to take positions. Players who use this style of play ignore small price fluctuations and rely on the bigger ones.