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What is a Forex Trading Strategy?
#1
A Forex strategy is a set of studies carried out by a trader to decide whether to buy or sell a currency pair at any particular instance.

A trading strategy can be centered on fundamental analysis, event risk or technical analysis charting tools. It is usually designed to provide series of alerts, which generates buy or sell decisions.

This implies that they can be designed by the trader or vendor, for a certain fee. A Forex strategy can come in the form of a manual or automated trading system.

Manual Strategy

A manual trading strategy will involve a trader having an already set rule or condition that he’s required to adopt based on price/indicator pattern, while he sits in front of his computer to wait for such patterns to develop.

Many traders use techninal indicators to develop their manual systems.

The trader is required to make sense off the pattern by interpreting whether it is a buy or a sell alert.

Automated Strategy

An automated strategy, on the other hand, is an algorithm with set rules or conditions, which are subsequently molded into a software, better known as a forex robot (EA).

Most automated systems are designed for Metatrader 4&5 (MT4 & MT5).

It that can be plugged onto your charts, thereby trading on your behalf – it is potent enough to initiate buy or sell orders for the trader.

In most cases, automated trading is said to eliminate the human side of psychology that greatly hampers smooth trading in a lot of traders.
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#2
Trading strategy is analyses to determine when to buy or sell a trading pair at a good time. Forex trading system based on technical and fundamedal news-based event. The interaday trading system is usually made up of technical signals make a buy or sell decision when the buy or sell to a profitable trade.
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