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Forex trading cannot always be profitable without following some simple FX strategies. It obviously needs time, knowledge of how trade currency and effort to build your own FX trading strategy or to adapt an existing one. It's important to choose some simple FX strategies or systems which will be easy to follow with your daily trading schedule and can be applied successfully with your account balance size. In the following discussions you'll find various strategies that are divided into three major categories: - Price Action based strategies - Fundamentals based strategies and - Indicator based strategies Price Action based FX Strategies are the trading strategies where you won't need to use any chart or fundamental indicators but this is purely based on the price action. These strategies are suitable both for short-term and long-term traders. Scalping -- this is a simple FX trading system that relies on small targets, extremely low stop-loss and on many positions opened and closed during a short period of time. All forex brokers do not allow scalping and those who allow scalping are not always good brokers. Scalping may not be suitable for all traders and if you ask me how trade currency I shall not encourage you to scalp during trading. Support and Resistance -- this strategy is a widely used trading system based on the horizontal levels of support and resistance. Support and resistance doesn't require any chart indicators. You have to draw or imagine lines on the support-resistance areas. These levels are formed by the candlesticks' highs and lows. A break-through of these levels after a period of consolidation gives a signal for a trend. Pinbar System – Martin Pring gave a direction of how trade currency. The Pinbar pattern was first introduced by him in his Pring on Price Patterns. This system is a popular strategy for entering and exiting positions which is based on the particular candlestick pattern and the following price action. Strategies based on Fundamentals -- This is a simple FX Strategy based on fundamental factors which stands behind the buy-sell conditions of the currencies. Many fundamental indicators, such as interest rates and macroeconomic statistics, affect the behavior and movement of the Forex market. These techniques are more popular and will be beneficial for the long-term traders those who prefers fundamental data analysis over technical contents. Important Forex News trading strategies -- this system is developed specifically to trade according to the Forex news with as much less risk as possible. It can be used only for important Forex news releases such as U.S. GDP, non-farm payrolls and interest rate decisions. Moreover all currency pairs do react on such news; the USD-related currency pairs show the best result. Currency movement Gap Strategy -- This is an interesting trading system for those who are seeking techniques of how trade currency, which utilizes one of the most disturbing phenomena of the forex market, a weekly gap between the last Friday's close price and the current Monday's open price. The gap itself takes its origin in the fact that the interbank currency market continues to react on the fundamental news during the weekend, opening on Monday at the level with the most liquidity. The offered strategy is based on the assumption that the gap is a result of speculations and the excess volatility, thus a position in the opposite direction should probably become profitable after a few days. Indicator based Strategies are the simple FX trading strategies which depends on standard forex chart indicators and can be used by anyone who are using MetaTraders as a platform. These forex strategies are recommended to those traders who have good knowledge on technical analysis. Moving Average -- this is a trading indicator which is based on the cross of the two standard indicators; the fast EMA and the slow EMA (exponential moving average). Parabolic SAR -- this is also a simple FX indicator but rather risky system which is based on direct signals of the Parabolic SAR indicator, which shows the stop and retracement levels. Stochastic Oscillator -- this is an interesting system with a less failing rate. This is based on a standard Stochastic Oscillator indicator, which signals a trend change guaranteeing rather safe stop-loss levels. MACD Divergence -- this is one of the reliable systems which is based on the standard MACD indicator. Actually, the divergence between MACD line and the currency pair rate is the basic signal in this strategy. This system has rather unclear entry and exit points, but it's easy to spot the signal and the trades followed by this method can be rather profitable, as it helps to catch the pull-backs and the trend reversals. This is how trade currency. You can be successful in forex trading if you follow the strategies discussed above. These simple FX techniques will help you to make professional on trading commodities. If you truly want to succeed in forex Trading and get your hands on the best FX strategies then you must visit the world's best resource of how trade currency. Go to these sites immediately: http://www.forexcandle.com and http://www.clickchanger.com
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