Each player has his own tactic and strategy, however, there are some free forex strategies that are worth taking into account. First of all, they include trade in graphic models and patterns.
The strategies of this type are based on methods of graphical analysis of the Forex market. This strategy uses a chart of the exchange rate for a strictly defined period of time, corresponding to the period of the selected trading system. The chart is divided into repeating figures. Then the trader assumes which of these figures will be repeated in the future. Then you need to analyze the current section of the chart and try to determine its behavior in the future, based on the available data on its behavior and development in the past. The most effective of these strategies is the Elliott wave analysis.
There are also strategies based on technical analysis. With such strategies, technical indicators and their aggregate analysis are widely used. You can analyze them and singly, but this method is not effective enough. Indicators can be divided into leading and lagging indicators. Their cumulative analysis brings brilliant and accurate results. At the moment, there is a sufficient amount of literature on technical analysis, so the study of this issue is not difficult.
There are also free Forex strategies based on Japanese candles. This type of strategy is very popular now, and in combination with other strategies is also effective. This method is based on the method of plotting sections of the chart during the trading session. Analysis of units on the chart in the form of Japanese candles is the prediction of the next unit of the graph.
The next type of strategy is based on the methods of capital management. After all, absolutely any trading strategy is doomed to failure, if you do not take into account the size of the available capital at the moment. This type of strategy is based on mathematical analysis and probability theory. It is recommended to use it together with other strategies. The most popular method is Martingale’s method.
The hedging strategy is also quite relevant. This tactic involves reducing possible risks. And the risk, as a rule, decreases in parallel with the probability of obtaining a large profit. However, this method justifies itself.