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FOREX Strategies, Forex analyses – “Turtle” Strategy
There are three key strategies for playing on Forex that are applied for trading:
Forex Trend Line Trading Strategy. In this case the trade is for the benefit of the current major trend. For this purpose it is necessary with the help of some rule or rules to determine the current trend, where we have one. Then it has to be decided whether there is a potential from time and cost standpoint. The correct Forex analysis requires a thorough examination of past trends. It happens to many forex traders to buy the top or to sell the bottom; their excuse is "Well I played on the trend line, didn’t I?”

FOREX Breakout Strategy. It is a Forex strategy which follows the direction of the breach and exiting from consolidation or a period of range; for example, when the market exits a rectangle or a triangle. In this strategy it is necessary to use filters to sort out false breaches and to distinguish the cases of correction with a return to the figure.

FOREX Strategy for Trading in the Range. It is a Forex strategy specifically designed to gain profits in periods when the market is locked in a particular course range, for example a rectangle. The purpose of the Forex range analysis is to find its "strength" – i.e. for how long it can be expected the prices to be locked inside the range. Only in the range trading strategies it is justified to use automated trading systems, robots, experts, and other similar software for trading.

In the specialized literature you can read about dozens of FOREX strategies with different names but all are derivatives or modifications of the above three. Many professional institutional traders, especially those who make the market /market makers/ or those who are short-term oriented, use different strategies that reflect each of the above styles in order to be prepared to participate in all market conditions.

One of the most popular Forex strategies is the Turtle Strategy. In nature there are different types of predators – the cheetah is so fast that nothing can escape from it; the lion stalks the prey from ambush, the crocodile can wait for hours. The “law of the jungle” is also valid in the financial markets – some hit and run, others make the “ommelette” for months and years.форекс анализ The most patient players are known as "Turtles", the word comes from English. It is well known that these animals have few problems with time and live hundreds of years. Thus, we can safely replace the "slow as a turtle" with “patient as a turtle”. The story begins in 1983 when two friends – Richard Dennis and William Eckhardt made a bet "are the traders born as such or they are created”. Richard believed that with proper training, a person can become a great trader. Bill believed that things were genetically set and therefore predetermined; i.e. “you cannot make a silk purse out of a sow’s ear.” In December in the same year, Dennis started with a group of 13 people the most successful experiment in the chronicles of trading. They had almost no experience and knowledge but had motivation and were ready to succeed. The results were phenomenal – over the next four years they achieved profitability of 80% per year! Each of them signed 10-year pact of confidentiality, which obliged them not to divulge what they have learned. Nowadays most of the "turtles" from the "first class" continue to trade successfully with own and drawn funds.

The turtle strategy is a type of "breakout" – you have to enter in a breach of a key level of support or resistance and play only in the direction of the trend. When prices "capture" next predetermined level, new positions are opened. Profits are collected only in breach of important levels in the opposite direction. This game definitely requires the "patience" of the turtle. A campaign may last for two or even three years. The big advantage of the turtle strategy is that it eliminates emotions. Goals are set and followed, small price fluctuations do not matter. форекс анализ
Another category of FOREX players perceive a different approach, they enter the market for a half to five minutes and "steal" 10-15 "pips". Within the day they do it 7-8 and sometimes more times. They call them "scalpers" – allusion is to the Indians who need seconds to scalp the vanquished enemy. In these operations the adrenaline is always high, but the results are not always good. A failed transaction may "slay" 3-4 already taken "scalps". The most important element here is the timing of positioning. Thus the scalper trader is torn between a greater number of transactions but less stable signals or fewer transactions but sure. The correct answer, as with many things is somewhere in the middle.
Over 90% of Forex players are ordinary day-traders, many of them want to become "turtles" or "scalpers”, but still something lacks in them. There is no reason to give up; Richard Dennis has proved that there are no impossible things. See more in Courses  

 
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