: Now If youre a day trader, you wont be concerned with the fundamentals of the economy or the long-term trend because its irrelevant. Put simply, these terms represent the tendency of a market to bounce back from previous lows and highs. Instead, go with swing or position trading. Well, in terms of profitability both approaches can work because it depends on your win rate and risk to reward ratio.
50-Pips a Day Forex Strategy, this strategy leverages early market moves of certain highly liquid currency pairs. When the RSI is above 70, the market is thought to be overbought. Traders should exercise caution when purchasing off-the-shelf forex trading strategies since it is difficult to verify their track record and many successful trading systems are kept secret. These Forex trade strategies rely on support and resistance levels holding. Counter-Trend Forex Strategies Counter-trend strategies rely on the fact that most breakouts do not develop into long-term trends. Here the last week's movement range is taken as the profit range.
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