How to trade Forex in 2020? Best Forex Strategies
Forex trading is still a profitable business, even taking into account the crisis and the total economic downturn. In any case, it is important to remember that a crisis is the best time to enter the market. While competitors are thinking about how to survive difficult times, you should look further and start work right now. Forex is a good choice for both a beginner and an experienced trader who understands all the intricacies of the profession. Today we have put together some of the best 2020 Forex strategies for you. A bit earlier we prepared a compilation of platforms to trade cryptocurrency for you, so don’t forget to check it. Working according to the tactics below, everyone will be able to get enough profit and begin to better understand the work in the market. So, without further ado, let’s get started.
Desperate Trading – is this the best Forex trading strategy 2020?
Many newcomers who give advice on trading, believe that in difficult economic times, you should act sharply and without hesitation. According to some incompetent persons, the subtleties of economic mechanisms, the laws of the market do not need to know. They believe that a simple mathematical analysis is enough for productive work in 2020. Thus, choosing a currency pair, you only need to monitor the dynamics of prices. Acting on this tactic, noticing the growth of the candle, you should open a deal to sell assets. Also, and vice versa – a fall in price implies the opening of an order to buy an asset. The rule, as the creators of such a desperate technique claim, works for all assets, whether it be cryptocurrency or fiat units. Surprisingly, such a strategy really makes a profit. Of course, each transaction cannot be profitable, but the overall picture of the auction will leave the trader in a favourable position. But we do not recommend working in this way for beginners and people with small capital. One unsuccessful price fluctuation – and you are in the red, be careful.
Bidding with Bollinger Bands
This popular market indicator is characterized by slow operation and high efficiency. Signals come quite rarely, but almost always make a profit. Perhaps this is the best option for beginners who are still just entering Forex. A novice player needs support in the form of real profit and time to learn and learn new tactics. However, not only young traders can connect Bollinger Bands because most serious players also use this mechanism. Thanks to stable profitability, you can earn a lot of money with this indicator. The main thing is diligence and own aspiration. As you know, a lot also depends on the nature of the players. If you are a desperate and risky person by nature, your choice will be to use mathematical analysis. For those who prefer to act thoughtfully and for sure, a good solution is Bollinger Bands.
Combination of the described techniques
A balanced, in every sense, option. The fact is that Forex trading is a complex, multifaceted process with a huge number of nuances. That is why the best traders often combine fundamentally different approaches. By analyzing the behaviour of the market with the help of various indicators and approaches combining the above methods, a phenomenal result can be achieved. It is a combined technique that is recommended for experienced traders who are serious about making money in 2020. It is necessary to understand the specifics of the market from different angles, the only way to know for sure whether the price of a particular currency pair will fall or rise.
So to summarize. Mathematical analysis is a choice for traders with large capitals and serious ambitions who are not afraid of several unsuccessful transactions and look at the total income for the quarter. Indicators similar to Bollinger Bands should be included first for beginners. Such technical solutions will regularly stimulate further work and will give enough time to learn more theory, as well as hone practical skills. And finally, the combined option is an ideal choice for experienced traders who plan to work on Forex in 2020. A diverse understanding of the market will certainly bring success, but also requires certain knowledge and skills.
But we have no doubt that you will succeed. Follow the news of the crypto industry with us, we publish only high-quality and unique material. Thank you for attention. Good luck!