3 Strategies of Forex Trading for Professional Traders

3 Strategies of Forex Trading for Professional Traders

Talking about forex trading means to discuss information of trading strategies in internet. All strategies cannot be claimed to sucessful and great really functioning. Here are some strategies in trading forex for professional traders.

Strongly Fundamental Movement Factor

When you want to trade forex, you need to concern on strong fundamental movement. This way is benefiting market response when there are economics release data. The market usually moves volatile if the number of particular economics data is announced better or worse than estimation. For example, if US non – farm payroll is released better than estimation, USD will strengthen significantly at least the first 20 minutes. Otherwise, if the data is worse than the estimation, USD will be promising. As a result, counterpart will move up and down.

Using Round Number as the Support or Resistance

What is meant to be round number in forex trading? Round number is price level like 1.50000, 0.50000, 100.000 and etc. Meanwhile, there are some numbers not regarded to be round such as 138.387, 1.398775, and etc. The round number is called to be psycological level usually being support area or key resistance. As an example, when you see moving price on the psycological level, the level becomes a key support. You can open a position of buy with stop loss direction on the psycological level. Otherwise, if the price penetrates to the down level, you can get a promising chance to open sell position. 7 Tips from Forex Expert Traders

Using Technical Indicator Combination

It is often called to be trading system in forex. Professional traders usually use some technical indicators with a particular purpose. The indicator can cover and handle the weakness of the other indicators so that produced signal is expected to be confirmed. As an example, you can see applied technical analysisi by Market Analyst Forex team. The team uses Stochastic Oscillator, Moving Average, and Fibonnacci Retracement.

Moving Average is used to help the strength of trend. If the trend is seen clearly such as uptrend or downtrend, Moving Average has a function to be support area or dynamic resistance. But, if the trend tends to be difficult to determine, it gives directions and guidance. Moving Average can collaborate to Fibonacci Retracement to give information of good entry area. The support area for entry market can be determined by Fibonacci Retracement only but it strengthens with Moving Average. In order to optimize forex, you can apply the right strategies for trading it.

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