Swing trading forex may be best suited to traders who prefer a balance between fundamental and technical analysis.This trading method may be best for traders who aren’t very comfortable with the extremely fast-paced trading methods in scalping, but still prefer shorter-term trading methods. Forex day trading is for traders who enter and exit at least one trade per day by predicting daily market movements, and are look to avoid overnight holding costs.

This strategy may be best suited to traders who can commit a large proportion of their time to trading, and are more focused on technical analysis. Forex scalping is where traders hold multiple short-term trades and build profit based on small but frequent winning trades.Think about how you performed, so that you can improve after each trade you make. By following your trading plan, exit the market at your forecasted limits. Don’t forget to use risk management conditions, such as a take-profit or stop-loss order. As per your strategy, place your forex trade with defined entry and exit points. Also, see our tips on building a trading plan.

Before placing a trade, ensure you have followed your strategy which should include risk management. Is the research you’ve conducted indicating the base currency (the first-named currency in the pair) is likely to weaken or strengthen? Go long and ‘buy’ if you believe it will strengthen, or go short and ‘sell’ if you think it will weaken. Based on your research, decide if you want to buy or sell.Use our news and analysis section to keep up-to-date with market news which may impact FX, and our market calendar to keep updated with market-moving events.

Start researching to find the FX pair you want to trade.

You can open a live or demo account to trade on price movements of forex pairs.

Open a spread betting or CFD trading account.

Forex trading