Trading Techniques and Strategies
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Forex is the largest financial market in the world with nearly 4 trillion USD in terms of turnover on a daily basis. Many Trading Techniques have become available via the internet and other various sources to help traders of all levels take advantage of this vast amount of liquidity and constantly changing market. However, many of these techniques are very complicated and can be overwhelming for traders, new to Forex trading. This article will help outline a few simple techniques that have been proven to be effective and efficient in terms of taking profitable trades if applied correctly
Scalping is considered to be one of the most popular Trading Techniques. The strategy employed is to close a position soon after it has come into profit. In other words, after you take a position and it comes into profit, usually 5-10 pips, profit is taken right away and closes the position. This lowers the chances of losing any profits, due to retracements in the price of the currency pair.
Momentum trading is one of the highly regarded Trading Techniques, which is mainly used to trade during news releases or confirmed trends, which are further supported by large volumes. For example a trader may expect some positive news to be released regarding a country’s economy, following the release being positive, the trader will buy the currency pair, the trader will then ride out the trend into a positive direction. When traders feel the trend is starting to reverse, they will close their position.
Position Trading is one of the Trading Techniques based on the aggregated exposure a trader has to a currency pair. The position of a trader is basically the average price of the currency pair. In other words, if a trader takes a long (buy) position for the EURUSD at 1.25., and in case, the pair is identifiably trending higher, but happens to retrace lower, and the trader takes another position at 1.23, the average position of the trader would be 1.24. Once the EURUSD moves back up above 1.24 the trader will be back in a total profit.
These are just a few Trading Techniques that can be employed to help you have a better opportunity for taking on profitable trades. If you would like to try such techniques out, but are not ready to risk any real money, please, feel free to download a demo account from Infin Markets and experience the action first hand, as you would be using a live account. If you want to learn more about how to make you trading more successful, you may read about Forex market analysis. Furthermore, if you require any additional information on the strategies mentioned above or information on additional techniques, please, feel free to contact us. Our highly trained staff will be more than happy to assist you with any questions or queries. What are you waiting for, click on the demo account link below and enjoy the thrill of trading Forex in real time.