Sep 26 2019 6
Everyone should know the 3 basic trading strategies, which are swing trading, day trading, and scalping. If you know 3 forex trading strategies, you can make money in a short amount of time. But the forex strategy secrets are: how do you know which of those 3 is the best for you? I have witnessed a lot of traders wasting years of trading the wrong strategy. I want to help you with my forex strategy secrets. To know which forex trading strategy suits you the most, answer the following questions:
WHAT DO YOU WANT FROM FOREX, STEADY INCOME OR DEVELOPMENT?
Income is a certain amount of money you make a month, while development is the growing of profit rate yearly.
If you choose income, it means that you want short term success. You need to look at trade in a shorter time frame, which leads to spending a lot of time in front of the screen. I suggest scalping or day trading.
If you choose development, that means you want to grow your wealth from trading. You will be fine with having fewer trading opportunities. You will trade for longer periods of time and so you spend less time watching trades. The trading strategy for you is swing trading.
HOW MUCH TIME DO YOU HAVE FOR TRADING?
This is quite an easy question. If you decide to devote a considerable amount of your time for forex trading, you should choose scalping or day trading. If you have a full time job, swing trading strategy is good for you.
HOW MUCH RISK CAN YOU TAKE?
Because my trading strategies is divided into two scenarios: high income with high risk and low income with low risk. So if you’re comfortable with risk and ready to lose big, day trading is for you. If not, you can choose scalping or swing trading.
BE PATIENT IN FOREX TRADING
No one will tell you all their investing secrets. Even book writers and successful traders. Book writers or billionaires who know 10 will only say 9. It sounds so disappointing, but this is a common sentiment, friends. Over time you will feel this is completely normal.
Although I know this is a market that always welcomes anyone. But see where your ability is to know how to invest accordingly. There are still many people despite the difficult economic situation, but they still come to trading. Don't think that you will change your life in a situation like this. There is indeed something wrong with taking out a loan to invest. It is better not to follow this profession if the economic conditions are too difficult.
Starting from zero is never easy. Once you have the determination to invest here, it takes a lot of time to learn from the very beginning. Do not be discouraged, because trading is a difficult profession not only for you but for everyone
After answering the questions above, let’s take one last look at the 3 forex trading strategies you learn today:
- Swing trading: A wealth or income building approach for those who can spend a few hours each day trading.
- Day trading: An income generating approach for those who can spend the whole day in front of the screen.
- Scalping: Making little profit in a short time, helping you practice.
After knowing all these forex strategy secrets, check your goals, schedules, and mind-sets to determine which one is the best forex trading strategy for you. Good luck!