Scalping Strategy
Timeframe: 1-5 minutes
Target: 5-10 pips
Entry: Enter a long position when the price breaks above a recent high, and a short position when it breaks below a recent low.
Exit: Exit the trade when the price reaches the target or shows signs of reversal.
Day Trading Strategy
Timeframe: 15-60 minutes
Target: 10-30 pips
Entry: Look for a trend and enter in the direction of the trend. Use technical indicators or chart patterns to confirm the trend.
Exit: Exit the trade at the end of the trading day or when the trend shows signs of reversal.
Swing Trading Strategy
Timeframe: Daily to weekly
Target: 50-100 pips
Entry: Identify a potential swing high or swing low. Enter a long position when the price breaks above the swing high, and a short position when it breaks below the swing low.
Exit: Exit the trade when the price reverses or reaches the target.
Range Trading Strategy
Timeframe: Any
Target: 10-20 pips
Entry: Identify a trading range. Enter a long position when the price approaches the top of the range, and a short position when it approaches the bottom.
Exit: Exit the trade when the price breaks out of the range or reaches the target.
Trend Following Strategy
Timeframe: Daily to weekly
Target: Unlimited
Entry: Enter a long position when the price is above a moving average, and a short position when the price is below it.
Exit: Exit the trade when the trend reverses or the moving average crosses the price.
Live Trading Tips
Manage your risk: Use stop-loss orders to limit potential losses.
Control your emotions: Don’t let emotions influence your trading decisions.
Follow a trading plan: Stick to your strategy and avoid making impulsive trades.
Use technical and fundamental analysis: Consider both technical indicators and news events when making trades.
Practice on a demo account: Get familiar with the trading platform and your strategy before trading with real money.
Seek professional advice: If needed, consult with a financial advisor or experienced trader for guidance.