Forex Strategies Classified
Submitted by Edward Revy on January 28, 2007 - 07:02.
Strategies for trading on currency market are difficult to find.
It is also not so easy to develop own forex trading strategy as good trading systems are often born after years of dedicated studying and active trading.
Even though our website will never be capable of outlining the global solution to Forex trading, we hope that strategies found on our web pages will shed a light on Forex strategy "hidden island" and help traders in their Forex researches.
We have classified strategies into four major groups:
Basic strategies — cover the basics of strategy based trading.
Simple strategies — simple to use, easy to try out.
Complex strategies — have many different conditions and rules, often use more than three-four indicators, need more time to get accustomed with.
Advanced strategies — these are strategies that have a strong logical and theoretical base, are not overloaded with indicators and often compose a core for trading systems used and created by advanced traders based on their individual trading habits.
Traders are welcome to learn and experiment with these strategies and ideas and ultimately create own working fine-tuned Forex trading system.
Why one system works, but another does not
Every trader has unique trading individuality: trading habits, profit goals, time limits, risk comfort level etc. That's why some trading set-ups and rules that work for one trader may not be suitable for another trader, even thought both pursue the same goal - making profit.