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Once you have a good understanding of the inner workings of a forex trade - i.e. what to trade and how to place an order - you should think about your trading objectives and the strategy you will use, at least to start with.

When you trade with a strategy in https://exness-ch.club/, you stay on track and can make decisions that are not based on your emotions. We have compiled a list of commonly used trading strategies used worldwide in the Forex market.

Forex day trading

People who are day trading Forex tend to keep a trading position open for less than a day (hence the name). This can mean that a position is closed within minutes or hours.

Day trading usually involves opening and closing multiple trades in one day, usually with leverage. While the profits are smaller with so many trades, the profits come little but crucially - often. These traders avoid overnight funding fees (which we will cover later).

Forex Scalping

Forex scalping is not the easiest way to trade Forex. It is not as easy to master as other strategies and is therefore often only used by experienced traders. The aim is to profit from the tiny price fluctuations on a trading day.

This can lead to lots of orders being placed within a few hours. As the namesake implies, these traders scalp tiny profits every time a forex pair shifts within a certain range.

Scalping is still considered a relatively low-risk strategy, especially when used alongside the take-profit strategies mentioned above . Stop-loss orders. As tiny as they may seem, when done correctly, these profits can lead to a successful trading week in no time.

Forex Swing Trading

If you are a beginner, you may find forex swing trading a reasonable option. In short, swing trading is good for short-term traders who prefer to trade the forex market with a little more flexibility.

Swing traders can keep their trades open for a day or even two weeks, sometimes months. The reason swing trading is so flexible is that the goal is to follow the trend of the pair you are trading, which can last from hours to months.

Forex demo accounts

Demo accounts are not to be sniffed at. They are an excellent tool for both forex trading novices and experienced forex traders. The reason is that with online brokerage firms offering demo accounts to clients, you can trade in a forex market that mirrors the real currency environment. In addition, you receive paper money like demo money.

This means that you can practice a new forex trading strategy until your heart is content, or you can simply learn the ropes of the market without risking your own money.

Maximum Forex Stakes

When considering how to better manage your own trading bankroll, consider the maximum amount you will risk on each position. It's easier to think of this as a percentage, rather than in money (such as dollars or cents).

To shed a little more light on what we mean by this - a good way to manage your own money is to only bet as much as you can realistically afford. Many people in the trading community incorporate this into their trading plan by only ever betting 1% or less than they have in their account.

To give you an example: If you have an account balance of USD 2,000, we do not recommend using more than USD 20 of your money on a single trade. It is natural that your trading account will fluctuate as you make profits and losses. However, if you only allow yourself to bet this much at a time, you are much less likely to wipe out your entire account on a single wrong decision.