Best Forex Trading Tips

Forex is the world’s largest market, with about 3.2 trillion US dollars in daily volume and 24-hour market action. Some key differences between Forex and Equities markets are: pay only the bid/ask spreads-no commissions, there’s 24 hour trading, you can trade on leverage, but this can magnify potential gains and losses. There are online Forex Trading Course as well.

Most profitable Forex trading tips are:

4 Hour Trading Strategy:-

Simply look at the daily trend for a particular currency pair (generally the GBP/USD, EUR/USD or USD/JPY pair) using a very easy but efficient technical indicator, then stay for two EMAs (exponential moving averages) to cross over in the same direction on the 4 hour chart. Enter a position (usually after a slight pull-back) and employ a two-part exit strategy to maximize profits. One half of the position will be closed out early for a safe profit, and the other half will be left to run for as long as possible in order to detain those really big price moves.

CCI variance Trading System

It’s a Forex system; it mainly uses the popular CCI indicator with two different settings. The key here is to wait until there is difference between both of the CCI indicators at the same time because this will give you a set-up with a very high success rate.

One doesn’t get many good set-ups per day using this trading strategy, but when one gets its likely to make decent profits because its very high probability set-up.

Long-Term Trading Strategy

Use the daily charts for these trades and look at variety of indicators such as the 200 day moving average, the super trend indicator, established support and resistance levels, Fibonacci levels if applicable, and Market club’s excellent trading signals.

Finally, Forex is a core system which generates the most consistent and reliable profits. All of the other Forex trading systems are used to boost trading pot during the quieter periods of the week. But the study shows statistically that most of the beginners are the losers in the Forex market, due lack of knowledge. So there are number of online Forex Trading course available as well which gives considerable guidance. All the above strategies are practically covered in the Forex trading course.