While the Forex market can be dangerous for inexperienced traders, the right trading strategy can make all the difference in the world during this year.
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Here are 10 of the top Forex strategies for 2017:
1. Martingale Trading
Martingale trading involves increasing your position as the trend moves away from what you predicted.
It’s similar to doubling down in gambling. If you have big pockets, this can work great as you increase your position until things move in your direction.
2. Fibonacci Pivot Trading
Utilizing pivot points and Fibonacci analysis, a trader determines support and resistance levels for the day.Once a pivot is reached, a trade is placed and then monitored.
3. Trading With Bollinger Bands
Bollinger bands can provide a simple indicator to help figure out when a price move is coming. This indicator forms a type of dynamic support and resistance, which helps gauge the market.
4. Dabble With Crypto
One of the major currency trends in 2017 is investing in crypto currencies. These digital currencies, such as Bitcoin, give currency traders many more options to choose from.
Although a lot of people are familiar with Bitcoin, new entrants like Blackcoin are poised to do big things in 2017. Many of the same technical analysis techniques can be used on these currencies. They also make good long-term investments if day trading isn’t for you.
5. London Opening Bounce
London is considered by many to be the center of the Forex market. When London opens, the market experiences a surge in liquidity. This often causes the price to bounce slightly in the direction of the overall trend.
6. Copy Trading
One of the simplest methods of trading is copy trading. With this strategy, you simply copy the trades of an experienced trader automatically.
7. Dual Stochastic
Using a combination of a slow and fast stochastic indicator, you can determine when the price is due for a retrace.
8. Buy and Hold on Fundamentals
Many investors simply buy and hold a currency they understand the fundamentals of. This can provide solid long-term results.
9. Weekly Swing Trading
Most currencies go through long-term trends regularly. With this strategy, you may only trade once or twice a week based on what the trend looks like on the long-term charts.
10. Expert Advisors
Expert advisors, or EAs, will do the technical analysis and trading for you. With this type of trading, you have to do your homework prior to selecting an expert advisor to use.
