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The simplest forex strategy to follow to be a profitable trader

by , 13 January 2015

Forex trading is a popular way to make money on the markets. The forex market is the most traded and liquid financial market in the world.

The market is open 24-hours a day, five days a week. This makes it accessible to many traders who're trying to hold down their day job too.

So what's the best way to make money in the forex market?

It all comes down to following a simple forex strategy.

Read on to find out more…

The secret to making money with forex trading

The simplest forex strategy to follow is to follow the market’s trend.

If you’d stuck with trend following strategies over the past four decades, you’d have seen consistent performance over the long-term.

Trading may be short-term in nature, but to be a profitable trader, you need to have longevity. And sticking with the market trend is how you can do it.

The advantages of sticking to trend following strategies

There are two main reasons why trend following strategies work best in the forex market…

The first reason is that you end up with a large positive reward versus risk ratio, Max Munroe in Forex Round-Up explains. In other words, your losing trades are generally smaller than your winning trades.

Take last year as an example. For the first six-months of the year, the market wasn’t in a sustained trend. So if you’d went with a trend following strategy, you might have endured a streak of small losses.

But come the second-half of the year, trends ruled the forex market again. By sticking to trend following strategies through this period, your gains would have more than offset your losing trades from the first-half of the year.

The second reason for sticking to trend following strategies is that the forex market likes to trend in one direction.

By trading the trend, you’re trading with the market flow.

The key to making money in the forex market comes from trading with the trend. Never against it. Find strategies that suit your style of trading, but work with the trend.

So there you have it. The simplest forex strategy to follow to be a profitable trader.

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The simplest forex strategy to follow to be a profitable trader
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