A detailed diversified trading strategy is the best way to stick to your trading plan. This will increase the ease with which your strategy is followed and thus assist your discipline. It is also imperative to consider how you should implement a trading plan that has a high-grade trading profile. It’s a good practice to follow trading standards whenever possible. It is important to follow the principles that you use in a Trading Strategy as part of your decision-making for a trade.

Who is a forex trader? Of course, he has a proven and profitable trading strategy. Until a trader does not get a profitable trading strategy, he cannot do a profit. All of the professional, big, institutional traders, big market players do trade with a trading strategy. Trading strategy means, which regions and which circumstances a trader gets an entry in a trade. There are many best forex trading strategies in the world. We can describe a few of themes in the below

 

1. World Crisis Gold Fundamental Trading Strategy

Strategies are built in various ways. Like a fundamental bias, technical bias, indicator bias, price action bias, etc. We are now sharing a classic fundamental strategy of gold

Trading. From the ancient age to till now gold is not only a precious metal but also a very acceptable international reserve currency. So huge volumes of gold are trading in the forex market.

Forex market’s price ups and downs for the rezone of supply and demand. Gold price also acts like this. When the demand for buying increases, then the gold price is a hike. And gold demand decreases then gold prices fall. We are discussing now such as a very proven fundamental rezone, which always makes the gold’s demand hike. This gold demand increasing fundamental effect has been happening since the post-second world war. And now the current COVID-19 pandemic also proves again this fundamental gold trading strategy.

This gold fundamental theory is when the world faces a crisis. Like as, war, neutral disaster, financial recession, pandemic, etc, then the people and investors are loss there

Confidence up on printed-paper currencies. Also the world’s reserve currency U.S. dollar. Gold is a safe haven from an older age. People and investors get safety to buy and invest in gold. People’s perception about gold this time is, gold is secure for future safety. So gold‘s demand started to high. And it goes in an upward direction. Gold’s big rally occurs at this time. Huge hike in the gold price.

We are giving an example of this world crisis rezone gold price hike in the picture below. How gold’s price boosted in the course of the current world crisis, COVID-19 pandemic. In the picture, we see the daily chart of gold. The gold price is low in march 2020, price of about 14.5000 labels. We mark this low price label by a horizontal line as a demanding label.  We see that the COVID-19 virus spread out in March over the world. In the U.S.A., Britain, Italy, Spain, France and also many other countries are heavily attacked by this virus. The world gets locked down. International trading stops, the economy collapses, many people become jobless. But in this world’s worst situation gold also starts to go up. And gold makes a big rally up to about 700 pips within august 2020.

If you want to trade the gold with this fundamental strategy you must analyze the world crisis condition accurately. Then you mark the demand label properly. And after getting a signal of a price hike you can enter a buy trade. We suggest you use a bigger time frame for this trade entry. Like a daily or weekly chart. You take this trade as long-time trade, like swing or positioning trade. Set your take profit to the next supply label. On the other hand, you can sell gold when the U.S. dollar becomes weak. Because gold is fully counter us dollar. As for us dollar, strong gold is weak, and as us, the dollar is weak as gold is strong.

 

 

 

 

 

 

 

 

2. Support Resistance With Trend Trading Strategy

If you ask me which trading strategy can you get for profiting in trading? I without any doubt recommend to you only one strategy which I am going to discuss. Its support resistance.

Stance with trend trading strategy. Every market moves according to supply and demand. In trading, demand label is support label and supply label is resistance label.

Market’s price moves with a direction. When the direction is upward than its calls, uptrend, and when the direction is downward its calls, downtrend. There is a well-known concept, “trend is your friend”. In the forex market, the support and resistance, and trend work more than eighty percent times. It is a very proven matter. We use these twice things in this strategy combined. Big market players get entry at support resistance labels and starting to manipulate the price and create their target direction. Which is making the trend? Market price moves by them. So we must follow them.

In this strategy, we first identified the market trend. Which trend is going on? We suggest identifying the market trend in the daily chart. Because the daily chart’s trend is perfect and so effective. After identifying the trend you must have to mark the recent support resistance label. In an uptrend, you mark the support label for buy, and in a downtrend, you mark the resistance label for sell. In an uptrend, at the support label, when you meet a buy signal then you can enter for a buy trade. In a downtrend at the resistance label, when you meet a sell signal then you can enter for a sell trade.  

We are giving an example in the picture of this strategy below. In the picture we are seeing the NZD USD pair is in a full uptrend. On the high label of this pair, we mark a support label. At the support label, we see after a bullish buy price action signal market s has gone up.

We set the stop loss in this trading strategy below the support label. And set the

Target profit labels some pips below the next resistance label.

We also are giving an example of a sell entry in the picture below. We are showing the picture of the USDCAD pair. We see the USD CAD pair is in a full downtrend. At the resistance label, after a bearish price action signal, the market goes to downward.

In this sell entry, we set our stop loss label beyond the resistance label and set our top above some pips of the next support label.

Conclusion

So when you take this as the best forex trading strategy. You must practice very well to master this strategy. And know properly the fundamental and technical analysis for use with this strategy. Without that analysis, you cannot work with this strategy. And do money management also with this strategy.