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What are the Best Trading Styles and Strategies To Become Profitable in MetaTrader 5?

What are the Best Trading Styles and Strategies To Become Profitable in MetaTrader 5?

Forex Trading Strategies are very helpful to traders. In the complex world of Forex trading, the only thing that you can hold on to is the strategies that you ought to use on your trades. For expert traders, they tend to easily carry out even the most extensive technical analysis since they have enough knowledge in the market to do so. But despite that, they tend to use few strategies, not even the complex ones, as long as they find it successful in carrying out their tasks. And with a powerful trading platform like MetaTrader 5, you will surely enjoy trading and forget that it’s complicated nature.

Common Strategies in Forex Trading

London Hammer Trade

London Hammer Trade is easy to execute and particularly revolves around volatile price movements. The market’s volatility will increase based on the number of traders who are active at that time.

The Bladerunner Trade

The usage of the 20-period Exponential Moving Average (EMA) line is the highlight of Bladerunner Trade. It can be applied in all time frames although most traders have it on shorter timeframes.

Daily Fibonacci Pivot Trade

Daily Fibonacci Pivot Trade particularly relies on pivot points as well as with the Fibonacci retracements when finding the perfect entry point.

Trading the Forex Fractal

Just like what its name suggests, Fore Fractal uses fractals in identifying the existence of a volatile market. These fractals may appear in swing lows and swing highs.

Forex Dual Stochastic Trade

Most of the time, Forex Dual Stochastic Trade is being applied to major currency pairs and other financial assets. It reveals the trend with the highest possibility to reverse.

Bolly Band Bounce Trade

Bolly Band Bounce Trade is a well-known trading strategy in MetaTrader 5 that promotes the thinking stating that prices will definitely return to their mean average. This is possible through the use of Bollinger Bands and must only be applied on a stable market that moves at a constant range.

The Forex Overlapping Fibonacci Trade

If you are knowledgeable in Fibonacci retracement lines, you will find this strategy quite easy and useful. With Forex Overlapping Fibonacci Trade combined with pivot lines, you will surely get a stronger signal.

Four Types of Trading Styles

Day Trading

Just like what its name suggests, Day trading is making trades throughout the day, small trades to be exact. Most of the time, positions go on for a few hours and should not be left open through the night.

Swing Trading

Swing trading has similarities with day trading and position trading. It doesn’t support short trades that take only a few minutes.

Scalping Trading

It can also be classified as a day trading method, scalping is another short-term trading that can last as short as five minutes. You will have as little as one-minute trading duration as the average position can go on for a few minutes.

Position Trading

Position traders don’t take on short trades like scalpers. They let their position open for days and therefore, you won’t have to monitor your trades closely throughout the day.


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