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Choosing the Crypto Forex strategy that is right for you

May 2023

There is a variety of Forex strategies. But how can one choose among all this diversity? The trading process when working with a manual strategy is completely under the trader's control. The trader does not face such unpleasant phenomena as lagging or redrawing of indicator signals. They are often the reason for unsuccessful market entry and loss-making trades. Manual trading helps to master all the rules of the technical, candlestick, and fundamental analysis of the chart faster. 

When choosing a suitable Forex trading strategy, answer a few questions.

Amount of time devoted to trading

The first question is how much time you are willing to spend trading. It is clear that if you can devote only 30-60 minutes a day to trading in the evening after work, then short-term strategies such as scalping, intraday and swing trading are not for you. Imagine you’re trading at a time when the European session is over. The North American one is also about to close (check out the market hours of four major Forex trading sessions). In this case, you won’t have sufficient volatility for intraday trading, including scalping strategies.

Deposit amount

The second question is about your deposit size. If you have a small deposit and, at the same time, you have to comply with the money management rules, you cannot afford to set a wider Stop-Loss. In this case, it’s better to consider Forex strategies on smaller time frames.

Trading experience

Your trading experience matters. If you are just taking your first steps in the Forex market, you need to familiarize yourself with the trading platform and its features, indicators, orders, and trading psychology. At the very beginning, complex strategies with many rules and filters may seem overwhelming. You need to start with something basic.

Trading frequency

If you want to be a scalper, you should know that scalping requires experience, strong nerves, a volatile market, and spending hours sitting in front of the computer screen. If you prefer less frequent trades and a more relaxed trading environment, choose medium and long-term strategies. Learn about candlesticks and technical analysis, trend continuation and reversal patterns.

Desired profit

And finally, think how much you want to earn per transaction. The more the better, obviously. However, you should realistically assess your strengths and risk tolerance. If you are prone to risk, eager to grab luck by the tail, opt for scalping or piping strategies. That’s where you get a good adrenaline kick.

If you are a cautious person ready to move towards the goal slowly but surely, medium and long-term strategies will suit you best. As a rule, such trading styles use time frames from D1 and higher.

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 72.4% 48 $60 907.24 2.74% 7.95% $1 201 110 545 769 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 74% 47 $3 249.66 1.95% 10.59% $390 660 724 581 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $1.000483 0.01% 0.06% $112 521 291 389 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 78.4% 45 $545.47 2.44% 10.66% $80 502 405 442 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 83.6% 28 $147.48 3.98% 10.54% $68 439 891 003 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $1.000054 -0.01% 0.01% $33 955 441 106 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 82.4% 29 $0.529085 0.59% 25.61% $29 525 795 272 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 85.2% 21 $7.39 1.21% 3.73% $18 514 454 508 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 73.6% 54 $0.115147 2.08% 10.19% $16 709 822 671 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 78.8% 36 $0.433919 -1.12% 24.20% $15 569 472 122 ADA 7 days price change
11 TRON (TRX) TRX TRON predictions 80.8% 37 $0.137615 -1.83% 10.19% $11 989 577 434 TRX 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 76% 44 $26.45 1.86% 2.73% $10 436 162 041 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 74.4% 42 $0.000018 1.88% 12.93% $10 321 337 154 SHIB 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 91.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 92% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change

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