Forex and Trading Strategies!

Being a forex trader can seem very exciting. The majority of people who teach you to trade will always say if you want to make money you need to trade FX.

I trade three strategies on a regular basis, these are ftse at 8am, the forex hourly strategy and breakout trading. I also use a strategy on crude oil if the signs are correct. The oil strategy depends on the range and circumstances and is too subjective at the moment.

If you take last week as an example oil dropped nearly 30%, experts on bloomberg are contradicting themselves and are very unsure of where it's going. For this reason that strategy is currently on hold!

I will also say I probably have too many strategies! Analysis paralysis can be a huge issue when you become a trader. In your early days you will look for the holy grail of strategies and realise it does not exist. The only way to become a good trader is to find a strategy that suits you and do it over and over again until you get it!

Whatever you do Forex should be one of the strategies you use. It is the most liquid market and the brokers can not tamper with it as Much in terms of pricing issues!

Did not trade this morning on my favoured cable, the move happened while I was asleep at 3am. So there was no early morning breakout and the hourly strategy was ruined for the rest of the day!

To your trading success!