7 winning strategies for trading forex

Even though each strategy has its own general guidelines, do note that all these
strategies are open to individual customisation flexibility is one of the key
ingredients of becoming a successful trader.

Flexibility oris required for the trader to adapt his or her strategies to different market conditions, as well as for the trader to Make
customise trading strategies to suit his or her own trading style and personality.
Therefore, feel free to tweak or modify any of the parameters of these strategies to suit your own preferences. In my years of trading the forex market, I have found that consistent success came
from basing my trading philosophy on three M’s

• Mind
• Money
• Method

While this book focuses primarily on the Method portion, I wish to emphasise that for any strategy to be profitable profitable,BUT mind mastery and money management must also be incorporated as part of a holistic approach in enhancing one’s overall trading performance – as performance is not assessed based on just a few trades, but on a series of trades made over a specific period of time.

The 7 strategies in this book must be applied with discipline and a huge dose ofcommon sense About

Their rules and guidelines are not set in stoneOnispire What I provide is aguide to implementing these strategies so that you can tilt the odds of success toyour side blog02-1

How this book Onispire is structured

Getting Started Onisipire

Find out why the forex market is constantly growing and why an increasingnumber of people are turning to trade this particular asset class in their quest toaccumulate wealth

For those who are new to trading, take a look at the differencesbetween investing and trading, and the various choices of trading time frames

Spot Forex Market Structure

The forex market has long been the exclusive playground of the big players,namely banks, institutional investors and hedge funds. But the playground is nolonger restricted to just them

individuals can also participate in this speculativegame. However, independent forex traders can be disadvantaged in some ways due to how the spot forex market is structured. It is essential to know where you, thetrader, stand in the overall big picture.

How To Overcome The Odds and ends with your

How are you going to tackle the odds that are stacked against you from the start inthe forex trading business? In this chapter, I will highlight the three Ms that havebrought me success in this field: Mind, Money and Method. Many traders,especially the inexperienced ones, are too fixated on finding the perfect trade setup,the perfect trading system or the strategy that never fails, thus neglecting the othermore important aspects that are crucial to good trading performance.

Strategy 1 – Market Sentiment

The forex market is heavily driven by market sentiment, and it is market sentimentthat influences traders’ decisions by triggering certain emotions and thoughts The Findout what defines the current market sentiment, and how you can incorporate marketsentiment analysis into your trading

Strategy 2 – Trend Riding

There is so much more to riding trends than simply closing your eyes and buyingat any point during an uptrend or short-selling at any point during a downtrend.This chapter shows you how you can jump on a trend when the trend is the mostrobust, rather than when it is about to end. This way you can ride a trend with ahigher chance of success.

Strategy 3 – Breakout Fading

Many false breakouts occur in forex price charts, and the occurrence of thesefakeouts provides the perfect opportunity for fading breakouts, that is, tradingagainst those breakouts. In this chapter, I explain why most breakouts fail, and howyou can identify high-probability fading opportunities

Strategy 4 – Breakout Trading

When currency prices break out of certain price levels, a large sustained move inthe direction of the breakout may occur, giving rise to a situation whereby bigprofits could potentially be captured in the least amount of time. The main problemwith trading breakouts is that many of these breakout attempts fail. In this chapterI walk you through several guidelines of how you can better identify potentialbreakout opportunities for this strategy.

Strategy 5 – Decreased Volatility Breakout

This strategy is conceptually similar to the strategy of breakout trading, because inboth cases the trader will be hoping for a successful price breakout. This particularstrategy, however, requires that the forex market registers a period of relative calmand low volatility before the strategy is to be implemented.

Strategy 6 – Carry Trade

This is a fundamental trading strategy that is highly favoured by institutionalinvestorsok. In this chapter, I explain how a carry trade works, and highlight somepoints which you should keep in mind when adopting this strategy in the forexmarket.

Strategy 7 – News Straddling

The forex market is extremely sensitive to economic and geopolitical news fromaround the world, especially those which relate to the industrialised countries. Theunderlying reason why news is so important to forex trading is that each new pieceof information can potentially change the trader’s perceptions of the current and/orfuture situation relating to the outlook of certain currency pairs. Find out how youcan trade news releases with a higher probability of success.