When you start trading you are confronted with a multitude of different forex trading strategies to choose between.
You can drive yourself crazy trying to figure out which one to choose and trade.
Some people will say – “Just give me a forex trading strategy that makes money”
Unfortunately it is not as simple as that. When I started trading I was mentored by a exceptionally good trader that traded between 20 and 30 times a day!
He was a scalper and only took a couple of pips per trade,and made an enormous amount of money.
No matter how hard I tried – I could not trade like him. It drove me crazy. I just could not get it right and was very uncomfortable trading that many times a day.
Finally I figured out I am good at picking one or two bigger trades per day, and I am very comfortable and good with that forex trading strategy.
The point of all this..
You have to figure out for yourself what kind of trader you are and what kind of forex trading strategies are best for you.
You have to be comfortable with the forex trading strategy you follow and make a success out of it.
You are probably wondering how will you figure out what king of forex trading strategy are the best for you?
I would suggest the following:
- Get a good forex trading education that will teach you the basics of market movement
- Try a lot of different forex trading strategies for a period of time. You will quickly figure out what you are comfortable with and more importantly – what kind of forex trading strategies you are not comfortable with.