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trading strategies

I have now been hearing some people saying that Forex trading is risky just because a person can lose a lot of money in trading Forex. On a single hand, this might be good news because it's somehow deterred some people from trading Forex particularly when they are not prepared to have proper education to learn to trade well. On the other hand, some people have decided to offer Forex trading a try, as they have been told it is a quick to be rich scheme. Unfortunately, they lost their momentum because they could not find any profitable trading strategies and thus, they concluded that Forex trading did not work. stock options trading

With due respect, I submit that trading Forex can be quite a successful venture but we should treat it as a critical business and not really a quick to be rich scheme. What this means is that individuals must understand the different segments of a Forex trading business. They are trading strategies, money management and trading psychology. In this short article, I'll concentrate on the initial segment - trading strategy.
I still find it fair to say that most Forex traders will first learn trading strategies in this business before they consider the other two segments. However, as some people take the view that Forex trading is a quick to be rich scheme, they cannot have the patience to accomplish the required work. Instead, their primary goal is to look for the most profitable strategy so that they may make money in the shortest time possible. My question is whether there is such a thing called the most profitable trading strategy. I understand by asking this question, I'm inviting a debate here since there are thousands of Forex strategies obtainable in the market. Each of you will develop your own personal opinion. If I could, let me first group all Forex trading strategies into four major categories: (i) trend strategies; (ii) trading range strategies; (iii) breakout strategies; and (iv) news trading strategies.
I know what I'm going to say below will disappoint some of you - there is no such thing called the most profitable trading strategy. As traders, our job is always to see the chart of a currency pair and decide when it is in a trend. If so, we have to utilize trend strategies because it doesn't make sense to utilize trading range strategies. Conversely, if the currency pair has formed a trading range, it doesn't make sense to utilize any trend strategies. Therefore, we have to utilize trading range strategies. Simply speaking, a trader will need to learn at least one trend strategy and one trading range strategy.
A few of my trading buddies prefer to trade the Forex market based on news. What they do is to look for the news headlines to trade and consider how a particular currency pair will react after the announcement. Typically, news trading strategies would have been a quick scalp on a currency pair and derive from a graph on a lowered time frame. 
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Finally, the key reason why breakout strategies exist is because there are traders who prefer to take a position on a currency pair after it breaks out of a trading range.As you can see, different traders may have different trading preference. The very first thing I believe you must do is to find out your own personal preference. Are you currently someone who is ultra conservative and you don't like to risk much in a trade? Or are you someone who is aggressive and it is okay for you really to cope with higher risk investments?
Although I mentioned news trading strategies here, I don't trade any one of them personally because they cannot fit my trading personality. I'm pretty much emphasizing both trend strategies and trading range strategies.

Here's another important point for you really to consider if you should be learning any strategy from another person. I'm certain that the individual from whom you learn may have his own trading rules. You've to ensure that these rules fit your own personal trading personality. If not, it is likely that strategy will not work for you although it works for that person. If you decide to tweak these trading rules to match your preference, you must be prepared to spend some time on back-testing and forward-testing the modified strategy to ensure that it generates very good results consistently.