TopicConsistent Returns From Day Trading
TriStar Trader Review There are many different types of Forex trading strategies as you probably know by now. However, many traders have trouble deciding which Forex trading strategy is best for them to use. So, here is an overview of some of the more popular strategies that you can use to trade the Forex market with, as well as some of their advantages and disadvantages.
Traditional Forex trading strategies include all strategies or systems that involve taking either a straight buy or sell position in the market. If you don't fully understand the Forex market yet, you should first make sure you can answer the question "what is forex trading?" before you move on to actually learning how to trade. Many traders make this mistake of not learning the basics first, and it's a very costly mistake to make. There are basically three major classifications of traditional Forex trading strategies that traders can use to trade the Forex markets with:
Software trading systems - Often referred to as "robot" trading systems, these computer software trading systems are usually 100% mechanical in nature and leave little to no room for human discretion. Good in theory, but in reality the markets are too dynamic and diverse to be mechanized effectively over the long-run.
Indicator trading systems - Indicators are simply derivates of the raw price action of a market that show the price movement in a different format. Some indicators like moving averages and a couple others are useful, but in and of themselves, most indicators are simply more confusing than anything else.