Mindblown: a blog about philosophy.
-
Number of trading opportunities
When choosing your strategy, you should answer the question: how frequently do I want to open positions? If you are looking to open a higher number of positions then you should focus on a scalping trading strategy. On the other hand, traders that tend to spend more time and resources on analyzing macroeconomic reports and…
-
Time frame
Choosing a time frame that suits your trading style is very important. For a trader, there’s a huge difference between trading on a 15-min chart and a weekly chart. If you are leaning more towards becoming a scalper, a trader that aims to benefit from smaller market moves, then you should focus on the lower…
-
Introduction
Before we proceed to discussing the most popular Forex trading strategies, it’s important that we understand the best methods of choosing a trading strategy. There are three main elements that should be taken into consideration in this process.
-
Best trading hours
Here’s a list of the most volatile hours for forex trading for each of the 8 major currencies: Australian Dollar: 01:30 GMT. This is the time when most indicators are published. 04:30 also sees some indicators. Swiss Franc: 07:15 GMT. While this is the strongest hour, publications happen many times at 7:00 or at 7:30, aroung the major…
-
Why It’s Important to Stick With a Strategy
While timing plays a crucial role in scoring wins and profit on the forex market, discipline in executing your trading strategy is equally important in laying the foundation for long-term trading success. Each trader’s trading strategy is their own personalized blueprint to build sustained success that aligns with their respective trading goals. Your strategy is…
-
Popular Forex Currency Pairs to Trade
Along with identifying the most popular trading windows to time forex trades, it’s also helpful to be aware of the most popular currency pairs that will be regularly traded among global forex traders. The more familiar you are with these popular currency pairs, the more effectively you’ll be able to consider them in your trading…
-
Worst Times to Trade
Late Sunday/early Monday Looking at the worst time to trade forex, there is nothing more slumber-inducing than the late Sunday/early Monday crossover. During this time everything remains slow and in many ways functions as a reassessment period, with many using the crossover to plan for the week ahead instead of actively trading. The larger percentage…
-
Best Times to Trade
Monday afternoon Monday mornings may very well be a time to avoid when it comes to trading, but Monday afternoons are a different story. This is because the market really does start to warm up, with trading volume increasing. Again, you can’t expect the forex market to reach peak liquidity during this time, but it’s…
-
When to Sell a Stock
Theoretically, the ability to make money on stocks involves two key decisions: buying at the right time and selling at the right time. To make a profit, you have to execute both of these decisions correctly. Buying a stock is relatively easy, but selling it is usually a more difficult decision to make. If you…
-
Choosing Indicators to Develop a Strategy
The type of indicator a trader uses to develop a strategy depends on what type of strategy the individual plans on building. This relates to trading style and risk tolerance. A trader who seeks long-term moves with large profits might focus on a trend-following strategy, and, therefore, utilize a trend-following indicator such as a moving…
Got any book recommendations?