5 Forex Strategy Articles to Help You Improve
Interested in forex trading? Here are some strategy articles to help you out.
Currencies are wonderful for day trading, swing trading, and longer-term trades, but are brutal and unforgiving if you don’t know what you’re doing. Hopefully, these articles will help you stay on the right side of the trend more often.
If you are going to day trade, be efficient. In How to Day Trade the Forex Market In Two Hours or Less I outline how I day trade the forex market, specifically the EURUSD and/or GBPUSD, in two hours or less.
The method discussed in the article above is subjective. If you want to make it more rule-based (less subjective) apply some indicators to aid you in making trading decisions. Here are some indicators that may help you out: Indicators to Use For Day Trading EURUSD.
It would be nice if an indicator or method worked all the time, but that is not the case. Some days the market just doesn’t produce great opportunities. Even with a great method and great indicators you still need to have the presence of mind to notice when conditions aren’t ideal for trading. This article discusses how to do that: Adapting to Changing Environments While Day Trading the EURUSD.
The next article looks at what appears to be a different strategy, but actually falls right in with the strategy discussed in How to Day Trade the Forex Market in Two Hours or Less. Sometimes a pullback is more complex than a simple move against the trend. A pullback or pause in the trend may take the form of a triangle or range for example. In such cases, this strategy is worth knowing: Predict Chart Pattern Breakout Direction for Lower Risk Trades.
The Strong Trend Reversal Trading Strategy – There are a lot of reversal strategies, but this one I really like. It works on any time frame and in all markets I trade (stocks, forex, futures). The strategy combines the concepts of trends and velocity/magnitude, which are key ingredients for analyzing price action.
Hope those help you out!
To learn more about how to day trade forex, including basics to get you started, strategies and a plan to get you practicing and successful, check out my Forex Strategies Guide for Day and Swing Traders 2.0 eBook.
Cory Mitchell, CMT