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The Best Forex Strategy for Consistent Profits
Some traders prefer the monthly, weekly or daily trade forex strategy.
Others consider that the best forex strategy is the intraday trading,
and probably none of them is the absolute best.
In
reality, there can be profits in any forex strategy as long as you are
well aware of the market movers and signals at any given time, and you
have a clear understanding of all the elements that support your forex
strategy.
Some traders base their forex strategy in long term
investments (monthly or weekly positions), while others will build
their forex strategy around daily or intradaily positions that might be
open no longer than a few hours or even minutes (this traders are known
as scalpers).
A long term forex strategy will probably earn you
100 or 200 pips in one trade, but that is probably all you will gain
within a month or a week if your forex strategy gravitates around
monthly or weekly positions, But on the other hand, a well carried
scalping forex strategy can deliver many little 10 or 20 pip trades
during a day, meaning that maybe you can total anything between 80 to
160 pips in one day using this forex strategy.
The intraday
forex strategy benefits from the fact that the forex market, whether
moving up or down within any particular currency pair, will always make
small fluctuations that you can profit from using an intraday forex
strategy.
Which forex strategy is best for you will depend
greatly on your personal investment and risk management style, and also
on how much time you can dedicate during the day in order to follow the
market trends and spot the right entry points for a profitable trade.
I
prefer the intraday forex strategy because of its profitability and
because frankly I have some time to spare, but mostly because I have
the assistance of a software I discovered a while ago, which places
trades by itself based on the market trends occurring both during the
day an during the night.
So even when if am not in front of my
pc, I can go on trading all day and all night, profiting from of every
little window of opportunity to scalp a few pips out of the market.
With this approach, my intraday forex strategy delivers about 120 pips
daily, which in my particular case means I earn about $3,000 per month
with a 5,000 investment.
So the intraday forex strategy can
indeed be the most profitable one, but it will demand that you stay
very attentive at what is going on within the market on a minute by
minute basis, unless of course you have a software that stays on guard
while you are busy with your job or anything else that might keep you
from continuously analyzing the market trends.
If you are
wondering about the software I use to help me with my intraday forex
strategy, I will only tell you that it does work and that its called
the FAPS.
http://www.forexarticlecollection.com/trading-strategy/the-best-forex-strategy-for-consistent-profits.html
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| Category: Forex for Beginners | Added by: forex-market (2009-05-25)
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| Views: 800
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