The Best Forex Trading Method
Have you ever wondered what the best Forex trading method is? Yeah, there are hundreds of different ways to trade FX, but they are not all the same. Some are faster than others, some slower, some more reliable or less, and when all is done, they all feature different profit margins too. Right now, we want to take you on a journey of what is the best Forex trading method out there. It’s all about putting money in your pockets!
Best Forex Trading Method #1 – 5 Minute Scalping
One of the important trading methods which Andrew discusses in one of his most recent trading tutorials is the 5 minute scalping strategy. For those of you who don’t know, scalping in FX is all about placing a large quantity of small trades, all on short 5 minute time frames.
The whole point of this kind of trading is to make lots of quick little profits. No, single trades are not going to produce huge profits here, but the point is that this is a reliable way of trading, and profits from those single trades do start to add up real quick.
When it comes to one of the best Forex trading methods out there, this 5 minute scalping strategy is definitely one you should be familiar with. As you can see from Andrew’s videos, both of them, he manages to make healthy and consistent profits trading in this exact manner.
Best Forex Trading Method #2 – Coronavirus Trading
Yes, it is of course unfortunate that our world is currently in the midst of a coronavirus pandemic. There are hundreds of thousands of people who are ill and tens of thousands who are dying. No, this is not a good time for planet earth and its inhabitants.
Now, although it sounds crass to say, there is a silver lining to every dark cloud. There is always some good to be found in the bad, and when it comes to the CO-VID 19 pandemic, it does produce some decent opportunities for FX trading.
You see, what the best Forex trading method is at any given time depends on the specific economic situation in the world. Yes, it is possible to take advantage of the current coronavirus pandemic in FX trading. In this particular video, Andrew explains how to trade FX profitably during this otherwise horrible time on planet earth.
Best Forex Trading Method #3 – The Gold Breakout
Something else that is very important is that you know when to trade certain assets against currencies. For instance, in Andrew’s latest trading video, he demonstrates how to trade Gold against the USD for profits.
It appears as though gold has experienced quite the breakout during the last couple of days, with massive price fluctuations happening. This is of course also due to the coronavirus pandemic and the state of the US economy. In this video, Andrew was able to trade XAU/USD and make an ROI of 650%.
Thanks to the gold breakout, Andrew was able to make a killing on the Forex market. The best Forex trading method is all about taking advantage of a situation at a moment’s notice, like this gold breakout. Check out the included video to see exactly how Andrew did this.
Best Forex Trading Method #4 – Candlestick Pattern Cheat Sheet
If you are not familiar with candlestick patterns, this is the perfect place to do so. Candlestick patterns can of course take many different forms, and they all indicate whether a price is going up, down, or remaining at the same level, plus more.
Simply put, if you know how to read candlestick patterns and how to place trades based on that analysis, you do stand to make a heck of a lot of money.
In this particular tutorial, Andrew talks about what candlestick patterns are, how to read and analyze them, and how to place trades based on that analysis. Some of the best Forex trading methods out there involve candlestick patterns, so this is definitely a lesson worth checking out.
Best Forex Trading Method #5 – MACD Turbo Trading
When it comes to the most profitable Forex trading strategies, this one could just be the very best Forex trading method out there at this time. The MACD indicator is one of the most popular indicators out there, and there is a lot that it can tell you.
Simply put, this is a momentum based indicator that can tell you all about price direction and momentum. If you plan on being a profitable currency pair trader, knowing what this MACD indicator is, what it tells you, and how to use it is very important.
Moreover, in this particular video, Andrew demonstrates how to use the MACD indicator to make small and fast turbo profits. In this sense, it is kind of like the 5 minute scalping strategies which we looked at in the beginning of today’s article.
5 Ways to Become Profitable in Forex
Now, this last lesson we want to talk about is not really about one single best Forex trading method. It is more a list of tips and tricks you should put to use in order to be a profitable FX trader. If you are a newbie currency trader, we would definitely recommend watching this whole video from front to back. These are some of the best Forex trading tips you will ever get.
The Best Forex Trading Method – Final Thoughts
When all has been said and done, as you can probably tell, there is no single best Forex trading method. The best strategy for trading FX can take many different forms. It all depends on how much capital you have to trade, if you are a newbie or a seasoned pro, and of course it all depends on the situation at hand.
As mentioned above, this Coronavirus has created some great FX trading opportunities, especially right now with Gold. All of these video tutorials for the various Forex trading strategies out there will go a long way in making you a profitable trader. That said, if you really want to be the best day trader out there, learning from the Income Mentor Box Day Trading Academy is what you need to do.