Once you fully understand how to place and order and buy or sell your assets of choice, you will be ready to make use of FX strategies to guide your trade decisions. In theory, making a profit is relatively simple—all you have to do is pick the right direction in which your asset price will move. This, however, begs the following question: How do you pick the right direction?
Here is where FX strategies come in. FX strategies are a systematic and planned series of actions you can take based on the analysis of existing information relevant to your market of choice. In FX trading, there are countless different strategies, each their own strengths and weaknesses. It is not uncommon for professional and recreational traders alike to rely strongly on one trading strategy they believe in, and in those cases they will attribute their success to their loyal following of that one strategy. In this section, we will focus on a few core FX strategies which you may one day hold close to your heart and accredit your success to.