Forex or as it is also called foreign exchange or currency trading is a market for all trade currencies on the world. There are many Forex strategies but you need to pick the right one or as they say, the one that suits you. In order to do that you need to go through many of them to see that you find your self there. From all those strategies we will pick 5 of them that we like and maybe you will too.
Lets start with the one called position trading. Position trading is one of the long ones and they last for week and even months, and your trade timeline will be a day or a week. The good things about position trading is that you do not need to spend a lot of time on trade since it is long investment.
The second one is swing trading that lasts from three days to a week, and it belongs to medium strategy, and you will need to trade in 1 hour or 4 hour timelines, and on the other side we have day trading strategy that is third on our list and it is considered short term investment that usually lasts around 5 to 15 minutes. Your job as a day trader is to have concern about capturing daily dryness.
And last ones are fourth and fifth. As a fourth we have scalping and that will eat more of your profits and it is so slow that your trades will last for a minute or even seconds. And fifth one is transition trading. You probably heard of it. Transition trading is entering timescale when it is low and taking it when it is high. It is very similar to old school trades.
And the conversation is going back to taking strategy that suits you the best, and the one that is bringing you the most profit.