Some traders prefer the monthly, weekly or daily forex trading strategy. Others believe that the best forex strategy is the intraday trading, and probably none of them is the absolute best. In reality, there are gains in any forex strategy as long as you are well aware of the market momentum and signals at a certain time, and you have a clear picture of all the factors that support your forex strategy.
Some traders base their forex strategy long-term investments (monthly or weekly positions), while others will build their forex strategy around daily or intradaily positions may be open longer than a few hours or even minutes (this traders known as scalpers).
A long term forex strategy will probably earn you 100 or 200 pips in a trade, but it is probably all you will receive within a month or a week if your forex strategy gravitates around monthly or weekly positions but on the other hand, a good that Scalping forex strategy can deliver many little 10 or 20 pip trades during a day, which means you may be able to total anywhere from 80 to 160 pips in one day using this forex strategy.
The intraday forex strategy benefits from the fact that the forex market, that move up or down in a particular currency pair, will always make small changes that you can benefit from using an intraday forex strategy.
Which forex strategy that is best for you depends a lot on your personal investment and risk management style, and also on how much time you can devote the day to follow market trends and spot the right inputs for a profitable trade.
I prefer intraday forex strategy because of its profitability and therefore I said, I have some time, but mostly because I have been using a software that I discovered a while ago, which places trades by itself based on market trends occurring both during the day one during the night.
So even though if I am not in front of my computer, I can go on trading all day and all night, take advantage of every opportunity to scalp a few pips out of the market. With this approach, my intraday forex strategy delivers about 120 pips per day, which in my case means I earn approximately $ 3000 per month with a 5000 investment.
So intraday forex strategy can indeed be the most profitable one, but it will require that you stay very attentive to what happens in the market on a minute by minute, unless of course you have a software that stays on guard when you are busy with your job or anything else that can keep you from continuously analyzing market trends.
If you wonder if the program I use to help me with my intraday forex strategy, I just say that it works and that its called the FAPS.
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