Best Forex Trading Strategies for Beginners
If you are new to Forex trading, one of the things that you may be having trouble with is putting together coherent Forex trading strategies. The fact of the matter is that learning to trade FX in a profitable and efficient way is not exactly easy. It takes a lot of skill and knowhow in order to be successful in the currency trading market.
However, even if you know what charts, indicators, oscillators, and more are, you still need to be able to put them together. When you put together all of the tools that you have at your disposal, this is what the best Forex trading strategies are. If you don’t know how to put all of the necessary components together into one solid strategy, your chances of being profitable greatly decrease.
This is what we are here for today, to teach you all about the best Forex trading strategies for beginners. The strategies and trading methods that we will cover today are designed for newbies and beginners. They are designed to include minimal components and they also require minimal analysis and work. Simply put, these are the best Forex trading strategies for people who don’t actually know all that much about trading.
Where to Find the Best Forex Trading Strategies
Before we get into taking a look at some of the most popular and best Forex trading strategies around, we want to touch on where they come from. We find that one of the best places to get all sorts of tips, info, and strategies about FX currency trading is from Andrew’s Trading Channel on YouTube.
Andrew is a long time trader, a very successful one at that, and he has this unique ability to convey information in such a way that newbies can understand. Andrew is knowledgeable, approachable, easy to understand, and moreover, all of his content on his YouTube channel is free. He’s one of the best people that you could possibly learn the best Forex trading strategies from.
The Best Forex Trading Strategies for Newbies
Let’s take a closer look at some of the newest, most popular, and best Forex trading strategies that Andrew teaches beginners to use on his trading channel.
Best Gold USD Trading Strategy
When it comes down to it, this particular AUX/USD trading strategy is one of the best around for this particular pairing. Here, Andrew teaches his viewers how to trade gold with the United States Dollar in a very fast, efficient, and profitable way. Gold and the USD share an inverse relationship, and this makes it quite easy to trade.
If you know what you are doing, just like Andrew did here, you can make well over 100% ROI from a single trade. As can be seen in the follow up video, he made almost 130% in profits from a single AUX/USD trade. If you like making money, and you need a solid trading strategy, we would definitely recommend studying this particular one in close detail.
EMA 200 & 50 Strategy for GBP/USD
Here we have what many would consider to be one of the best Forex trading strategies for the GBP/USD pairing. This is another one of those strategies that is exceedingly easy to use, as it contains only a few components and requires only minimal analysis and work.
Using EMAs or exponential moving average lines, particularly the EMA 200 and the EMA 50, combined together, Andrew was able to make well over 700 Euros in profits in just a couple of hours.
Andrew also analyses support and resistance lines in combination with these exponential moving averages, and it results in a very successful trade. It’s another one of those best Forex trading strategies for newbies that has a high success rate and is not all that hard to master.
The Simplest Forex Scalping Strategy
Yet another one of the best Forex trading strategies around, one that Andrew explains in great detail, is this particular one that involves using three different exponential moving average lines on a five minute timeframe.
This is what is referred to as scalping in FX, a strategy that involves placing small trades on short timeframes. Scalping is an easy trading method, and when it comes to scalping strategies, this has to be one of the easiest ones around. It also happens to be one of the most profitable scalping strategies in FX at this time.
How to Grow a Small Trading Account Fast
One of the realities that you as a newbie Forex trader are faced with is that you might not have all that much money to spare.
Of course, a big time rule in the world of trading is that you should only invest money that you can afford to lose. For many newbies, this means that you might only have a few hundred dollars to start trading currencies with.
Yes, having so little money does make life as a trader a bit more difficult, but not impossible. In this particular video, Andrew explains exactly how you can start with a small trading account and grow it to a substantial account in just a few weeks.
Forex Trading Strategies for Newbies – Final Thoughts
As you can see, Andrew’s Trading Channel on YouTube is hands down one of the best sources for you to learn all about the best Forex trading strategies, particularly ones that are ideal for newbies to use. Here you will find a plethora of tips, tricks, strategies, and more, all related to Forex trading. It’s one of the best places to get free, valuable, useful, and actionable info on everything FX.
Now, this is of course a free resource, so while it can be useful for specific strategies and tips, it does not qualify as a comprehensive education in FX. If you truly want to become a master in FX trading, and learn everything there is to know so you can be self-sustaining, sufficient, and profitable, we recommend checking out the Income Mentor Box Day Trading Academy.