Forex strategies that are traded based on strict mathematical rules with no ambiguous conditions and no important trading decisions to be made by the trader are called mechanical. A good example of a mechanical system is a moving average cross strategy, where MA periods are given and positions are entered and exited exactly at the point of cross. When working with mechanical trading strategy, it is easy to backtest one and determine its profitability. You can also automate such system via MetaTrader expert advisors or any other trading software. The usual drawback of such strategies is their lack of flexibility before the fundamental changes in the market behavior. Mechanical strategies are a good choice for traders knowledgeable in trading automation and backtesting.
If you can't keep your emotions in check when trading, you will lose money. Lots of it. The most significant action that you can do to improve trading profits is to work on yourself. Really knowing yourself and how you think can give you an edge that others in the market don't have. My goal is to share practical advice to improve your forex psychology without boring you to death. Hopefully, you can develop the mental edge you need to become the best trader you can be.

Trend-following systems require a particular mindset, because of the long duration—during which time profits can disappear as the market swings—these trades can be more psychologically demanding. When markets are volatile, trends will tend to be more disguised and price swings will be greater. Therefore, a trend-following system is the best trading strategy for Forex markets that are quiet and trending.
Fundamental Forex strategies are strategies based on purely fundamental factors that stand behind the bought and sold currencies. Various fundamental indicators, such as interest rates and macroeconomic statistics, affect the behavior of the Forex market. These strategies are quite popular and will benefit long-term traders that prefer fundamental data analysis over technical factors:
Fair Value strategy made use of in various financial markets. In the forex market, the fair value of a currency is determined based on the economic situation in a country. In order to use this forex strategy, traders must have an understanding about a few basic related to the economy, especially the GDP growth of the two economies whose currencies they plan to buy and sell. Other aspects to be considered include the unemployment rate and the inflation data.
Divergence is a tool that helps the traders to learn the price behavior of the currency. This analysis generates patterns that will help to predict the direction of movement of the currency rates. Divergence, a leading indicator, helps traders to significantly increase their profits. This is because the likelihood of trading in the right direction and at the right time increases if this indicator is used along with others such as Moving Averages, Stochastics, RSI, Support and Resistance levels, etc.
Admiral Markets Cyprus Ltd is registered in Cyprus – with company registration number 310328 at the Department of the Registrar of Companies and Official Receiver. Admiral Markets Cyprus Ltd authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 201/13. The registered office for Admiral Markets Cyprus Ltd is: Spyrou Kyprianou 20, Chapo Central, 1st floor, Flat/Office 102, 1075, Nicosia, Cyprus
Risk Disclosure Statement: Trading currencies on margin involves a high level of risk which may not be suitable for all investors. Leverage can work against you just as easily as it can work for you. Before deciding to trade currencies you should carefully consider your trading and financial objectives, level of experience, and appetite for risk. The possibility exists that you could sustain a loss of some, or possibly all of your trading capital. Therefore, you should not fund a trading account with money that you cannot afford to lose. It is recommended that you seek advice from an accredited financial advisor if you have any doubts as to whether currency trading is right for you. No representation or guarantee is offered or implied as to the trading results that may be attained by applying concepts presented herein. Any losses incurred by traders unsuccessful in applying these ideas or methods are the sole responsibility of the trader and Currex Investment Services Inc (d.b.a “Forexmentor”) and its principals, contractors and assigns will be held safe from prosecution in any form.

Yes, true, the measured move is a well-known pattern (also called an ABCD pattern). But there are several keys to using that pattern. 1. Where do you get in? Easy to spot after the move has well begun and you certainly don’t want to get in as its completing. 2. How do you know it’s a certified measured move? 3. What confirms the move or the entry itself? 4. What if it only goes 50% of the way and then fails? Is that good enough to take some profit (assuming you got in early enough to have any profit)? What… Read more »
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