Top 10 Best Forex Trading Strategies That Work For Beginners (2024)

Forex Trading Strategies That Work Today I will talk about a little different topic which is going to be about a business trading and to be more specific we will talk about Forex Trading, moreover we will discuss what are some well forex day trading strategies known and best Trading techniques that work regarding Forex!

So let us just shed some list of forex trading strategies light on this topic.

Besides it allows you forex day trading strategies full access which is 24 hours there are no delays and market remains open for you and you can buy any currency and as much as you want.

It is liquid market you can participate and can leave anytime you want!
According to study The U.S dollar, The Euro and Japanese yen are the most effectively traded currencies.

#1: Free forex Trading strategies That Work All Time

Forex is also known as (FX) and it is actually a market where currencies are traded. It is one of the largest market and you may want to say a liquid market, everyday billion and even trillion dollars are traded!

The term Forex refers to Foreign Exchange hence it becomes Forex. This market remains open for it’s users 24 hours nonstop except for some holidays and the currencies are traded on a very big level , worldwide.

Free forex Trading strategies

One of the reason for it’s popularity is the large trading volume of currencies and other interesting reasons are investors of Forex traders are not imposed very strict rules and regulations such like clearing houses etc..

A Brief History

Trading of currencies and exchanging them has a very ancient history and it first occurred in ancient times , there were people Gann grid indicator who were called money changers, people who helped others to exchange money and they took their commission for this.

#2: Best forex trading strategy ever for scalping

At that time too different currencies had different rate for example if some country had a gold coin which was materialistically not as good as some other country’s gold coin then it would have the less value and would have been sold in less value as compared to the other gold currency. So during the 18th century Amsterdam maintained a Forex marketing.

In early modern , Alex brown and sons traded foreign currency it was about in 1850 , Alex Brown was one of the leading persons who traded currencies across USA and after that in year 1880 the modern foreign exchange started!

#3: Candlestick Pattern strategy

So let us talk about some Forex trading strategies that work!

The blade runner trade: this is a very good of way trade as It involves EMA crossover strategy, and moreover it suits all currency pairs with all the timeframes.

Bolly band bounce trade: if you talk about Candle Timer indicator ranging market then bolly band bounce trade is very suitable for you, traders in this strategy use it with a combination and with confirmed signals. So if you are a person who looks forward to Bollinger bands then you should consider this one.

Daily Fibonacci Trading Strategy

Daily Fibonacci pivot trade: Daily Fibonacci uses the combinations with only daily pivots and it also combines the extensions with your daily or even yearly pivots.

#4: Daily Fibonacci Trading Strategy

Forex Dual Stochastic trade: it is basically a dual aspect of trade one is slow and the other one is fast which is called Stochastic , so Median Renko System area is chosen where the price is trending and you may refer It as a retracement.

Forex Overlapping Fibonacci trade: it is a strategy which let their users have control and many traders like this strategy but since they may use it on their own so reliability may be less if you compare it other different strategies,

but if you know how to use it properly and take good care of the confirming signals and with appropriate conjunctions then it will really suit you.

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Blade runner reversal trade: so it is as simple as the name it first picks the entries but it picks the entries where the trend is reversed and then prices begin to trade on the side of EMA.

The pop ‘n’ stop trade: if you try to keep track of some price as it increases then it will be such a big loss if the price suddenly falls or reverses itself so in such cases this strategy works really fine and tells you the secret.

so knowledge of pop ‘n’ stop strategy will be a good deal, just some simple rules and tricks do it all for you and tell you if the price will continue in that direction so if you want to have a proper profit out of Forex trade I recommend you to know this strategy.

#5: simple Breakout Forex trading strategy

The Drop ‘n’ stop trade: it is just as opposite of the pop ‘n’ stop strategy , as it keeps track of trades to the downside.

Trading the Forex Fractal: this one the last but a very important strategy to know about, in fact you may want to say it is not just the strategy but the marketing fundamentals and principles so being a professional trader you must be aware of the prices and their changing modes and what is making them change.

This does not come this easy Arrow indicator it requires a lot of efforts and of course it does require your time.
When you buy or sell currency in Foreign exchange then It does not happen physically but electronically but you actually convert your currency into some different currency ,

and that is what happens if you try to exchange your currency physically too, for example Japanese yen into US dollars!

If you want quick delivery then spot transaction comes into play and that is for most of the currency pairs it gives you two days and the sell or purchase of US dollars or,

Canadian dollars are settled in one day , but as I mentioned above the market remains close in holidays including Saturday and Sunday.

And one important thing to know , funds are exchanged on the settlement dates and not on the transaction dates.

#6: Swing Forex trading indicator system

Swing Forex trading: It is a trading technique where you can hold your trade for more than a week , and the time frames you will work on are from 1 to 4 hours!

Being a swing trader you go for a single move in the market ,so it will be important to learn some techniques like Support and Resistance , the benefit of a swing trader is you do not have to work full time here so you can do your other jobs too , you get more trading opportunities.

Day trading: you may refer how to Harmonic pattern indicator start day trading that day trading is similar to the swing trading strategy but not that similar , it is faster.

You hold your trades for some minutes or hours so the time frame become from 5 to 15 minutes generally.

#7: Forex day trading strategies for Daily trend

If you are a day trader then you will be chasing after volatile sessions, the point where money is created.
And also you should note that being a day trader it will not be your concern to know about long term trend as It is not related to the type of your trade.

 Forex day trading strategies

So if you learn completely about it and you become good at it then you can surely make money out of it even on the most months besides you do not have any overnight risks here because you are supposed to close your positions by the end of the day trade.

#8: Entry and exit strategies

Some best techniques to follow

It is said that always start with a single currency pair because the nature of market is unpredictable and you cannot just judge what is coming next for you so in order to have a better experience you need to learn a lot and for this reason in start you should just focus on single currency pair rather than dealing with multiple.

Entry and exit strategies

Always maintain a record for you , even if you mess something up and you think you are not going very successful the way you thought , note it! and see how did this happen and it will become your key point towards success.

#9: Forex Harmonic Price Pattern indicator Strategy

It is advisable to not use demo account for a very long time, or even if you are using it then you should make your mind to switch to live account as soon as possible,

and it should not be exceeded than a month besides when you have a good Best scalping indicator understanding how to start day trading and knowledge of FX marketing then you should not be dealing with a demo account.

Steve Mauro Method

You should always keep in mind if you are taking any chances and risks then it should not be more than 2% of your single trade , always trade when you have complete knowledge of it! don’t let your emotions ruin your planning.

#10: Camarilla pivot points Strategy

So these were some brief techniques and overview about Forex trading , but honestly it is a business and it has many underlined techniques and fundamental principles so being a trader you should keep learning and if you want how to start day trading to be a FX trader then do learn these aspects and techniques discussed above , I hope you will get the most out of it.