Magic Breakout Forex Trading Strategy
Magic breakout can be a good forex trading strategy. This strategy has some benefits for earning more profits. It is used to enter a market before the crowd comes in which you can predict breakouts prior to traders arrive. It is a conservative strategy that is safe and risky for small money in trading. It is a trading technique following a series of simple rules. This strategy is very easy to implement in which it is beneficial for traders.
News Trading Strategy
Basically, forex trading is based on news trading being a trading technique in which it compares the gap of economic actual news with forecast value from the news. Generally, if the gap between actual value and forecast value is fairly large, the price movement will be more drastic than little gap or based on prediction. There are two ways often done by traders using this strategy. You use stop buy and stop sell order. This technique is conducted before news is announced. You can get the benefit of it. If the price moves based on the prediction, it still enables to gain profits. The risks can be minimized by inputting stop loss adjusted to type of news. Direct trading on market price is a technique comparing gap of actual and forecast values from certain news. If the gap is large, traders will taken open buy or sell on market price. You have occasions to get more profits by applying this forex trading strategy.
Market Sentiment Strategy
The last best forex trading strategy pdf is market sentiment. It can be defined by investor attitude to finance market. Market is a complex link consisting of some individuals in its position representing market sentiment. But, you do not make market supporting you. To be a good trader, you have opinions to a market but you have to be careful in predicting the market condition. It has function to be a great facility to predict market movement and becomes an important chance for competitors aiming at trading in opposite directions from market sentiment.