http://www.ForexConspiracyReport.com Winning Strategies in Forex Trading Forex profits commonly stem from winning strategies in Forex trading. Winning strategies in Forex trading commonly require a bit of homework, attention to detail, and periodic review of trading results. Winning strategies in Forex trading are virtually never set in stone but are an evolutionary process based on results and modification of the strategy. Fundamental analysis of Forex pairs is a basic aspect of any successful Forex strategy. A winning Forex strategy also includes selection of pairs to trade and technical analysis of evolving market sentiment. Here are a few thoughts on winning strategies in Forex trading. Volatility is Where the Money Is A famous although not really successful bank robber, Willy Sutton, was arrested once again after robbing a bank. Legend has it that someone asked Willy why he continued to rob banks. "That's where the money is," replied Willy. Well, winning strategies in Forex trading start with choosing a volatile Forex pair in order to trade for profits. Volatility is where the money is. Traders can keep track of several of the major currencies and choose the pair that promises the most price movement. Traders can also subscribe to an alert service that gives them a heads up when there is the promise of action somewhere in the market. The Final Price is Determined by the Fundamentals The strength of one economy as compared to another, the monetary policy of one nation when compared to another, and employment rates, national debt, and trade balance are all fundamental to the value of a currency as denominated in another. Traders commonly watch market sentiment in order to scalp profits in Forex trading, trend trade, and the rest. But profitable tips for Forex day trading start with a firm grasp of the fundamentals as this is how the trader can know the general limits of a currency during the trading day, week, or month. Daily Profits Come from Skillful Technical Analysis Technical analysis of major Forex currencies is commonly more accurate than technical analysis of minor Forex currencies. Many traders simply ignore minor currencies. They devote their fundamental analysis to a few major currencies. These traders only look for price action in the major currencies because these currencies offer high liquidity and volume and make the use of technical analysis more accurate and therefore more profitable. Choosing the right technical analysis tool is important. Many traders use candlestick patterns in Forex trading as their guide to where the market is going next. These centuries old trading tools are not the be all and end all of trading but they are clear and easy to read indicators of changes in Forex market sentiment. In the end winning strategies in Forex trading may include a variety of tactics. However, the most success strategies are always based on a good choice of currencies to trade, a firm grasp of the fundamentals that drive each currency, and a strong skill set when it comes to the application of technical analysis tools such as Japanese candlestick signals and Japanese candlestick trading tactics. http://youtu.be/qM3rHjegKnM
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