Every successful trading is a mix of calculated moves, information, strategies, and more. The traders who can execute each of them in the right balance, grab the best deals on the market. While coming to the forex trading, strategies play an important role considering its more structured nature. Good forex trading strategies ensure on-time purchase and sales by making the maximum profit from each transaction. Some of these best forex trading strategies may help you to register greater success in the trading platform.
- The Bladerunner Trade
It is a price action trading strategy that uses price action to make entries. It uses the 20 EMA, an on-chart indicator, or people can also pick the standard 20 Bollinger bands’ midline. Traders can use both the indicators to derive the results as well. The strategy uses to pick breakouts from any continuation and sells the retests. Though the strategy is useful throughout the day, few time preferences would make it more beneficial and result-driving, irrespective of the currency pairs. For instance, both Asian market and London open with volatile price conditions in their respective early hours. This gives better choices of breakout and retest, and once the price is settled, the traders can still look for opportunities in the market.
- Bolly Band Bounce Trade
It is ideally designed for ranging markets, and people utilize it along with confirming signals, to ensure better results. It should be noted that when there is a sharp trend, it is not an advisable strategy and may not drive the desired results. When the markets are in a range, similar to short-term scalps, the trader can trade the bounces or jumps at the outer bands. The logic of the strategy is benefiting from the short movements of the market when it is in range.
- Forex Overlapping Fibonacci Trade
It is one of the most sought-after strategies in forex trading and used by many traders. The traders should use it along with appropriate confirming signals to ensure the most desired and accurate results. Seasoned traders warn that it is less reliable when used without confirming signals. It uses either Fibonacci extensions or retracements and finds a confluence in the Fibonacci level along with other signals including pivots, support and resistance, and more. The trading strategy is applauded for its simplicity.
- London Hammer Trade
It is effectively utilizing the volatility visible when London trade opens. Though it is most useful in early London sessions, traders can still use it when the price is showing a sharp trend. It can also be used while the market is moving away from support/resistance with a strong trend. It adheres to the candlesticks mainly, and that is the Rejection Bar or Hammer. The traders should look for the rejection bars near the resistance bar. If the price is moved out of the narrow range, the traders should watch out for the direction of the hammer and decide on the buy or sell.
- The Bladerunner Reversal
While Bladerunner is a price trending strategy, the Bladerunner Reversal focuses on purchases while the trend reverses and trades when price begins on the other side of the EMA’s. It utilizes the forex polarity indicator that is a mix of Bollinger mid-band and 20 EMA. It should be noted that Bladerunner Reversal waits for a trend to complete, and once it starts to reverse, it moves into action. Using both Bladerunner and Bladerunner Reversal together is a great option for balancing the price when there is no clear trend is visible.
The trading strategies are crucial when people trade in different currency pairs, and each currency pair shows different characteristics. By applying some effective trading strategies devised by experts of particular markets, traders can yield better results from those markets.