3 Best Forex Trading Strategy That Aren’t Tried Mostly

Every now and then Forex traders feel the need for implementing different strategies. One of the best aspects of Forex is its flexibility; players can choose from a variety of strategies and timeframes, and work on conditions they find best. Often times, traders spend hours trying to devise the perfect strategy. While there is no such thing, there are strategies that see higher rates of wins than others. It takes a lot of research and time to make a trading plan.
 

You won't have to spend any; here are 3 amazing Forex strategies that are very rarely seen in the markets:

 

Less Popular Forex Trading Strategy Yet Effective

 

1) Moving Average - Buy Above, Sell Below: The MA Forex trading strategy is one which all traders are familiar with, or at least have heard of. With an MA indicator attached, notice the candle movements. Every time it closes above, or below the moving average without touching it, you can go for the trade! When the candle is above the MA, it indicates a buy sequence; similarly, when it is below, you should initiate a sell. This works better on longer timeframes and a 15-minute chart. When you're buying, keep a stop loss at sell, and vice-versa.
 

2) Scalping - 40 Pip Pull Back: Scalping is considered as one of the best strategies in Forex, with lesser risk thresholds than most others. This 40 pip pull back works as follows - when a major pair moves up to 40 pips in the market, on an opening day, all you have to do is move in the opposite direction. This will reward you with 15-20 pips easily! This strategy relies on the dynamic nature of foreign exchange, where markets can never bee line, and they always have to move erratically.
 

3) Fibonacci Retracements: This term is used to represent support and resistance. Fibonacci levels are calculated once major market movements have concluded. Once a big price level has been reached, these retracements come in handy to retrace areas where markets might touch before ultimately forming a price move.
 

Forex trading strategies govern a trader's life in Forex! Without the aid of a good strategy, leave aside winning, even mere thriving is impossible. The competition is stifling, and top-notch strategies are a necessity today. Sign up with the world-class broker WesternFX and top the charts of Forex trading in Sri Lanka! With our unparalleled brokerage guiding you, you will achieve trading success in no time!