How To Trade With Exness

Why do you need to use Exness strategies?

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The Exness strategy is one of the best beginner trading styles that would assist you in growing your trading capital. It would bring you up to seed with the dynamic and multifaceted nature of the Forex market to assist you in making sound trading decisions.

Top Exness strategies

Every Forex trader relies on a trading strategy to make trade entries or exit in the financial trading industry. However, it may be a daunting task to find a profitable trading strategy, especially for a beginner. Therefore, we’ve selected the best four trading strategies that would help you to make quick progress in the Forex market.

The chart pattern strategy is purely price action. Essentially, it is a technique that uses trend reversal or continuation chart patterns (e.g., double tops and bottom, head and shoulder, bullish/bearish flag patterns, etc.) to identify trading opportunities in the Forex market.

However, chart patterns are to be backed up with technical analysis to make probable trade decisions. For instance, a head and shoulder pattern around a resistance zone has a high probability of playing out.

Image: Chart pattern trading

Trend following strategy is one of the best Exness strategies to find trading opportunities in the Forex market. It is a trading approach whereby traders look for entry opportunities to buy or sell in the direction of an established trend. Trade entries are made after a minor retracement (pullback) for a possible trend continuation.

Image: Trend-following strategy

The counter-trend trading strategy is the direct opposite of the trend-following strategy. Just like the name sounds, it involves identifying trading opportunities against the direction of the market trend. This technique is based on the idea that the price would most likely retrace at some point (correctional movement/pullback) before continuing in the direction of the original trend.

The counter-trend strategy is commonly used along with the trend line to find short entry positions. You can use it to find scalping, day trading, and swing trading setups, which depends on the time frame used for analysis.

Image: Counter-trend strategy

The breakout strategy is the last Exness strategy on our list. It is on the concept that a broken support zone may become a resistance zone in the future and vice versa. The breakout strategy is commonly employed when the price breaks out of the trend line, price channel, rising/falling wedge, bullish/bearish triangles, etc.

Image: Breakout strategy

Which is the best Exness strategy for beginners?

All the strategies that were discussed above are reliable for a beginner trader. You need to find the one that works for you and stick to it. For instance, you can practice the chart pattern strategy on a demo account to see if it gives you an edge in the market. Besides, chart patterns are easy to identify and trade, which makes it a suitable beginner strategy for Exness.

Expert tips to improve your Forex trading

The Forex market is complex and dynamic, which makes it somewhat of a hassle for traders, especially a beginner to make consistent profits. So, we’ve put together a few tips to give you an edge and improve your trading performance in the Forex market. Here are some tips below:

Is Forex trading risky?

Forex trading involves the exchange of currencies in the financial market, which is highly volatile and unpredictable. So, yes, Forex trading is a risky venture. It carries inherent risks because it is affected by complicated factors like market sentiment and economic indicators.

Also, some Forex traders lose their capital through over-leveraging. The idea of high leverage may be enticing as it potentially enables traders to make bigger profits from small capital. However, it is a recipe that magnifies potential losses because it exposes a Forex trader’s account to the market.

Finally, Forex traders can incur significant losses in the financial market due to a surge in volatility caused by economic news releases and global events. High volatility makes the market fluctuate, which can lead to loss of capital.

However, Forex trading, though risky, can be financially rewarding when risk management principles are strictly adhered to. Traders can potentially grow their capital over time with patience and risk management.

One of the risk management rules is position sizing, whereby a trader pre-determines an appropriate position size for a trade, usually between 1-3% of the trading capital. Furthermore, the use of stop loss is another risk management principle that helps to define the potential amount of money to be lost should the market move against a trader.

Finally, maintaining an ideal risk-to-reward ratio helps to manage and balance the margin between profits and losses.