If you are searching for the forex strategy that will help you improve your forex trading habits don’t look any further. Some of the companies that are highly ranked in the 2015 charts for best trading strategies include; Bollinger Bands Trading Strategy, Bladerunner trade, London Hammer Trade, Forex Dual Stachastic Trade just to name a few. All of which have earned their position in the chart due to the various useful insights they offer for traders.
According to trade strategy experts, some key things to consider when selecting the best forex trading strategyare;
- Cost Effective: The main problem with selecting trading strategies is the cost. Whether buying it yourself or searching the internet for freebies, always look for the strategy that offers the best value for your money. Most trading strategies merely offer the value you invest in. However, with strategies like Bollinger Bands Trading Strategy or Bladerunner trade, you can expect to get more than your initial investment.
- Easy trading options: Among the free forex trading strategies available, Bladerunner, Bollinger Bands and London Hammer Trade offerthe easiest options for trading. Bollinger Bands’simple EMA trading strategy is both easy to understand and utilise, their trade trending feature is exceptional with bands becoming close together even if the market is slow and the volatility options are not reasonable enough.
- Trade timings are flexible: The timings with Bollinger Bands, Bladerunner and Forex Dual Stachastic Tradeare pretty flexible in comparison to others. Bollinger bands even provides the option for 15 minutes trade which adds ease to the decision making process.However, due to previous favourable results, traders have their preffered time of the day to trade.In Asia, the early hours of the morning are considered to be better trading than later hours. Nonetheless, any entries or strategies depend on how the London stock exchange opens up. It may be a game changer for all but there is always the option to adjust after some reliable entries have been passed.
- Entry parameters are considerable: There are certain parameters that need to be considered when choosingtrade strategies. For Bladerunner, the most important thing that you need to consider is the price that is trending in the charts, asthe price must retest the 20 EMA successfully. Bollinger Bands are based on indicators which reduce the time of decision making which is why many traders feel that trading with Bollinger Bands is a crucial component in their winning systems.
- Simplistic format: These strategies are designed to make trading easier.The Bladerunnertrading strategy has a simplistic design and format, with any entry rejected from the 20 EMA not being considered solelyon its price. Similarly, Bollinger bands are based on the indicators whose movement determines the price structure, you can find out more here.
- Timing matters:Perfect timing in forex trading is hard to come by, and it is imperative that traders are kept updated about the current events that may influence the price. It is for this reason that news announcements about the set of the trade can provide useful insight. It is also not advisable to jump into a trade as soon as the news announcement is made, as waiting for 15 minutes after the announcement is over gives you timeto scrutinize whether the trade would be a worthwhile move.
- Move with the trend: Thinking outside the box with forex trading is not necessarily a good thing as trading in the direction of a current trend will generally make things easier to handle. By determining the movement of the price you will be able to establish the current trend. For Bollinger Band moving with the trend is always best, as determined by the movement of EMA, the polarity indicator or through trend indicators like middle band.
Nevertheless, with trades with forex never being set in stone, you should always be on the lookout for indicators that can identify the price level or the reactions associated with it. If you are kept updated about news announcements on the lower time frame charts, selecting the right trading strategy will not be difficult.