The best known strategy forex trading strategy is the Martingale.
This forex strategy works by doubling your lot size every time after a losing trade.
Obviously this is blown at high risk business strategy, how can it to your account.
This forex strategy is the only forex trading strategy that works well with high gearing, for example 500:1.
What they do is to take a number of indicators to determine the open and close conditions before a transaction is entered or exited.
On top of that they would apply the Martingale strategy, by doubling up on the lots after each losing trade.
If the trend is up, you open buy positions and when the trend is down, you open sell positions.
You can for example determine the long term trend of the EURUSD with reference to the daily chart.
You can use the RSI on a EURUSD 30 minute chart to find oversold conditions.
An oversold condition is when the RSI is below 30.
An oversold condition is a buy signal as the currency is relative cheap.
An oversold condition in a chart 30 minutes is usually the turning point of a retracement on the daily chart.
It is therefore the most economical entry point for a buy on our example.
A third strategy is the strategy of reverse.
Here you would identify the point where the trend is reversing and place orders with the new trend.
Once the reversal has been confirmed, you would place a sell order in our example.
The London breakout system is based on such a strategy.
The collective profits are more than the occasional large stop loss.
These systems works well in flat markets and usually trades during certain hours.
Stock Exchange News – The Straddle is the most common strategy during the negotiation followed news.
Pending orders are placed say 10 pips above and below the market price a few seconds before the news announcement.
If news announcement moves the high price, a purchase order is activated el sales order is canceled.
To be successful in forex trading it is not good enough to apply a good strategy, you need to adapt your parameters such as Stop loss, Take Profit, Trailing Stop loss to your strategy.
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