I don't know about you but I am always looking to improve my Forex trading. Often what kills experienced traders is their inability to keep up with the Forex market trends and movements. Even the most sophisticated Forex traders need to constantly keep up on the Forex market. Yes, Forex education is ongoing and as such I am always looking to get an edge. I am always looking for more winning Forex trading strategies. Here are a few winners that I thought I would share.
Fundamental Analysis.
Most people think of fundamental analysis and associate it to long term trading but this should not be the case. Fundamental analysis lends itself greatly to making big money in the short run. Using indicators such as the Non-Farm Payrolls, Consumer Price Index, and Purchaser's Managing Index, Forex traders can trade on the short-term as a result of reactions to news releases. Look to capitalize also on meetings that discuss issues such as inflation, interest rates, etc.. For anyone interested in trading this style I strongly recommend that you get an economic calendar in order to stay up on what and when reports are being released.
Technical Analysis.
This is the place where price trends are analyzed. Some great technical analysis tools are the MACD, Elliot Waves, Parabolic SAR, and trend lines. It is always a good idea to really learn the upside and downside of each technical analysis tool. I also strongly recommend using at least two or more indicators to confirm movement.
These are basic winning Forex tools and strategies that, if used properly can be a great advantage to the Forex trader.
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