Some might argue that the best forex strategy would be the monthly, the weekly or the daily trade. Others might say the best forex strategy is theintraday trading, and the truth lies somewhere between the middle.The fact is that there is profit in any forex strategy as long as you are well aware of the elements that will influence the market movements at any given time, and you have a clear understanding of the fundamental and technical issues that support your forex strategy.
Some traders base their forex strategy in long term investments (monthly or weekly positions), while others will build their forex strategy around daily
or intradaily positions that might be open no longer than a few hours or even minutes (this traders are known as scalpers). A long term forex strategy will probably earn you 100 or 200 pips in one trade, but that is probably all you will gain within a month or a week if your forex strategy gravitates around monthly or weekly positions, But on the other hand, a well carried scalping forex strategy can deliver many little 10 or 20 pip trades during a day, meaning that maybe you can total anything between 80 to 160 pips in one day using this forex strategy.
The intraday forex strategy benefits from the fact that the forex market, whether moving up or down within any particular currency pair,
will always make small fluctuations that you can profit from using an intraday forex strategy. However, which forex strategy you apply will depend greatly on your personal investment style and also on how much time to spare you have during
the day in order to follow the market and catch the most profitable entry points.
I have become a fan of the intraday forex strategy among other things because of its profitability and the fact that I have some time to spare, but mostly because I get help from a software I acquired a few months ago, which places and closes trading orders by itself based on the market trends that often may occur during the night.
This means that even when I am not around my pc, I keep trading all day and all night long, taking advantage of every little window of opportunity that
might open to scalp a few pips out of the market. With this approach, my intraday forex strategy delivers about 120 pips daily, which in my particular
case means I earn about $3,000 per month with a 5,000 investment.
So the intraday forex strategy can indeed be the most profitable one, but it will demand that you stay very attentive at what is going on within the
market on a minute by minute basis, unless of course you have a software that stays on guard while you are busy with your job or anything else that might keep you from continuously analyzing the market trends. If you are wondering about the software I use to help me with my intraday forex strategy, I will only tell you that it does work and that its called the FAPS.
About the Author
You can find some very interesting information at this site: http://www.specialonlinebusinessreviewauthority.com/best-forex-trade-systems.html
Their evaluation helped me decide which system was the best choice for me.
Source: http://www.articletrader.com
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