Forex Trading Strategies
About Building Forex Strategies
Profitable Forex Trading is dependant upon having a reliable strategy. The Tonisignals team have outlined how to use technical indicators so that you can form the best forex strategy. We recommend selecting technical indicators that you are knowledgeable with, and integrating multiple indicators into one strategy.
It is important to develop expectations of performance for a strategy before using the strategy on a live trading account. To form expectations for a forex trading strategy it is vital to both backtest the strategy with previous data, and test the strategy forward using a "demo" account.
Forex Trading strategies can be both manual (performed by the trader) or automated (performed by a trading algorithm). Both styles of forex trading strategies can be profitable, however automated trading systems typically have larger costs involved due to the writing and coding of algorithms.