You can exchange currencies in the forex foreign currency exchange market any number of ways, banks and businesses use it, as well as individuals.
Individuals trade through retail brokers. Retail trading is heavily regulated. A year or two strict rules put in place put a lot of bad brokers to an end.
Strategies of trading forex vary, from price-action systems, not using indicators, to forex scalping, to following trends, or reversed, and so on and so on.
Many individuals participate in day trading, which all of the strategies mentioned above would fit under.
Day Trading is when your trade closes, within market close time.
Forex automated systems can feature a variety of strategies and some use many confined to one or two systems. The word about scalping is only a myth. Scalping in itself is a very solid and safe method of trading, in short. Trend watching can also be very helpful.
Some people prefer to learn forex and use a Price-Action system and strategy, with no indicators, and that is fine, as highlighted above, forex can work on both levels, this article is merely a resource to explain some resources and that you can automate a range of strategies, many EAs do.
it is really up to you what kind of strategy you want to use, and if you are going to take a long time to actually study the foreign exchange market heavily, or if you want to get your hands on it right away and start trading with an automated trading robot. Personally I think you can do both.
Source by Rod Maccallum
Post a Comment
Note: Only a member of this blog may post a comment.