If you want to start full time forex trading, then first you need to know about forex strategy.
The estimated trading volume of the foreign exchange (Forex) market stands at $6.6 trillion, a figure that exceeds even the volume traded across all stock markets. That is one of the primary reasons why the profit-seekers are flocking to Forex day after day. But the statistics have it that the overwhelming majority of traders are losing money. Obviously, that happens due to the lack of time-tested Forex trading strategy and money management skills. The year 2020 has proven to be tough on Forex and all other financial markets, but it has also given an opportunity to revise many trading systems and approaches and come up with a list of the best Forex strategies for 2021 that have proven their efficiency even at such turbulent times.
what are the best Forex trading strategies for beginners? This is a common question among traders just starting out and for good reason.
here are three trading strategy for beginner :
1. Pin Bar Trading Strategy
When it comes to Forex trading for beginners, the pin bar is king. This is because it’s a very obvious pattern, making it easy to identify on a chart. It’s also one of the easier strategies to trade.
2. Inside Bar Trading Strategy
Another highly-effective Forex trading strategy for beginners is the inside bar strategy. Unlike the pin bar, the inside bar is best traded as a continuation pattern. This means we want to use a pending order to trade a breakout in the direction of the major trend.
3 Forex Breakout Strategy
Forex trading for beginners isn’t easy. But with the help of the breakout strategy below, you’ll be profiting in no time!
This strategy is different than most of the conventional breakout strategies out there. Instead of simply trading the actual break of a level, we’re waiting for a pullback and retest before entering.