The 10 Best Forex Strategies 2015

When it comes to selecting strategies to trade, you have the choice between buying one off-the-shelf or trawling the Internet for freebies. The trouble with free forex trading strategies is that they are usually worth about as much as you pay for them. They haven’t been tested, and there is little evidence of their reliability.

10 Best Forex StrategiesThe strategies covered here on the other hand, are ones that either I or successful traders I know have used in a consistently profitable fashion…

FREE FOREX TRADING STRATEGIES

N.B. not all of the following strategies are equal in all markets. Some perform better than others, and each individual trader will find some strategies more suitable for them to trade than others.

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#1: The Bladerunner Trade

The Bladerunner is an exceptionally good EMA crossover strategy, suitable across all timeframes and currency pairs. It is a trending strategy that tries to pick breakouts from a continuation and trade the retests.

#2: Daily Fibonacci Pivot Trade

Fibonacci Pivot Trades combine Fibonacci retracements and extensions with daily, weekly, monthly and even yearly pivots. The emphasis in the discussion here is on using these combinations with daily pivots only, but the idea can easily be extended to longer timeframes incorporating any combination of pivots.

#3: Bolly Band Bounce Trade

The Bolly Band Bounce Trade is perfect in a ranging market. Many traders use it in combination with confirming signals, to great effect. If Bollinger Bands appeal to you, this one is well worth a look.

#4: Forex Dual Stochastic Trade

The Dual Stochastic Trade users two stochastics – one slow and one fast – in combination to pick areas where price is trending but overextended in a short term retracement, and about to snap back into a continuation of the trend.

#5: Forex Overlapping Fibonacci Trade

Overlapping Fibonacci trades are the favourites of some traders I have known. If used on their own, their reliability can be a little lower than some of the other strategies, but if you use them in conjunction with appropriate confirming signals, they can be extremely accurate.

#6: London Hammer Trade

The extra volatility you get when London opens presents some unique opportunities. The London Hammer Trade is my take on an attempt to capitalise on these opportunities. Especially effective during the London session, it can be used at any time when price is likely to be taking off strongly in one direction, and possibly reversing from an area of support/resistance just as strongly.

#7: The Bladerunner Reversal

As mentioned above, the Bladerunner is a trend following strategy. The Bladerunner reversal just as effectively picks entries from situations where the trend reverses and price begins to trade on the other side of the EMA’s.

#8: The Pop ‘n’ Stop Trade

If you’ve ever tried to chase price when it bounds away to the upside, only to suffer the inevitable loss when it just as quickly reverses, you will want the secret of the pop and stop trade in your trader’s arsenal. There is a simple trick to determining whether or not price will continue in the direction of the breakout, and you must know it in order to profit from these situations.

#9: The Drop ‘n’ Stop Trade

The flip side of the pop and stop, this strategy trades savage breakouts to the downside.

#10: Trading The Forex Fractal

The forex fractal is not just a strategy but a concept of market fundamentals that you really need to know in order to understand what price is doing, why it is doing it, and who is making it move. This is the kind of inside info that took me years and many thousands of dollars to learn. It’s yours here for free, so make use of it :-)

There are also several sites on the net offering free strategies. The problem with most of these sites is, as mentioned above, they just give a brief description of each strategy, with little real proof that they work. Consequently, there is a need for greater research on your part before using any of those strategies in your actual trading. Once you have selected a strategy from one of these sources you will of course need to thoroughly back test and forward test it.

The various processes for this are covered in Forex Strategy Testing There are also several commercial systems to consider. Since these are more comprehensive than the simple strategies presented above, and thereby fall into the definition of Forex Trading System, they are dealt with separately in the following section, Forex Trading Systems

Comments

    • Erron says

      You’re in the right place ;-)

      Seriously, to give a more definitive answer, I need to know more about what you’re looking for. Like, what time frame and time zone you will be trading, what kind of risk profile, what kind of trading appeals to you: scalping/short-term intraday/long-term etc.

  1. Victor says

    Please I’d like to know the best strategy for trading on a 4-hour timeframe, GMT+1 timezone, and $100 portfolio. Thanks.

    • Erron says

      Really, you could adjust many of the strategies shown here to that timeframe, time zone. The size of the portfolio is fairly irrelevant, unless you’re expecting to make big bucks out of $100, which is certainly won’t. Probably best to start off on a demo anyway, and play around with strategies like the Bladerunner.

  2. Pietro says

    I would like to know if some of the above strategies has been tested and used on a 1 minute charts… i’m looking for a good strategy for scalping/short trade.

    Thanks! ;)

    • Erron says

      I haven’t personally used any strategy at all on a one minute chart, to the extent that I could say I have back tested it. You’d have to give that a try yourself. If you’re looking for a good scalping strategy and you are able to trade around the time of the London close, I suggest doing a search on this site for my review of the London Close Strategy by Shirley Hudson and Vic Noble.

      Good luck with it!

      Erron

  3. ranx says

    Hi Enron, many thanks to your forex blog best 10 strategy. I hope you won’t mind if i would ask you about parameter on each strategy. I’m new to forex and i would like to test the strategy. THanks

    Ranx

    • Erron says

      Hello Ranx, you’ll need to be more specific if I’m to help you. Which strategy were you going to start on, and which parameters were you in doubt about? Keep in mind that there is only a certain amount of information I can fit into a blog post: to cover every parameter over every timeframe, every forex session etc. would require an entire course, and I’m unable to provide such at present.

      Erron

  4. Trader G Shari says

    Hi Erron,
    Thanks for the 10 strategies. I’ve been working on developing a strategy which is; indicator free, timeframe free, news free, support resistance free, works all time, keeps you away from noise and consistently predicts market more than 80% . Please check it out also :)

    • Erron says

      Thanks for the feedback. I checked out your strategy, which sounds interesting. The only thing is that your performance page doesn’t really give verified statistics, which I personally would like to see in order to backup a statement like 82.5% win rate.

      Erron

    • Edgar says

      Hey there! I have been reading a lot of strategies these last few months and I’ve started the Forex Pro practice account to get familiar with strategies and reactions. I configure all my charts with boll bands at 15 minutes. What I’ve been doing is paying attention to bottlenecks and placing horizontal support and resistance lines at each trade to chase an objective and to avoid losing too much, the thing is that till now I’ve haven’t had much success, I’m believing that support and resistance lines don’t act very well in a 15 min term. I’ve also activated alerts with CCI RSI long/short of strategy center because back tested shows a good accuracy in starting points and I’ve seen that using some technical analysis to know where to set the goal, it can be very fruitful, but haven’t had much success =(, any suggestons? my zone is mountain time (-7) Best regards!

      • Erron says

        Hi, welcome to AuthenticFX.

        I think support and resistance lines actually do act very well on any timeframe, but you have to realise that depending on things like current liquidity in the market, time of day, news announcements and so on, price can just go charging through such levels at any time. It’s not wise to just trade at those levels without having a confluence of factors pointing to them being a point where price is highly likely to react.

        You’ve given me a few details of how you are trading but really, without a clear and thorough understanding of just what you’re doing I really can’t advise with respect to your current strategy.

        It’s good that you’re aware of your time zone, and you should always factor that into your trading: what scheduled news announcements occur around that time, what is the general liquidity in the currency pairs your trading likely to be during the time of day that you will be trading and so on.

        I know it’s a bit of a shameless plug for the site, but I would suggest that you have a look at the 10 best forex strategies we cover here. Read through them to get a general understanding, and perhaps choose one or two that you like and try trading them on a demo account. As with all strategies/systems/ideas, you will have to adapt them to your own unique circumstances, but they are a good place to start.

        Hope this helps, feel free to follow-up with more questions :-)

        Erron

  5. Trader G Shari says

    Dear Erron,
    Thanks for addressing about performance. As i am just getting started, Performance section will be updated with time, also i will launch my free book on Forex trading, which will be a Gem in nature, in near future. Also future videos which will be posted on my YouTube channel, will include live trading videos. The strategy works on price movement along y axis. There is a certain thing happens when price moves in either direction, and this thing happens as many times as you can see the yellow ticks in performance section images, it doesn’t matter weather one takes the trade or sit aside, that thing is happening, it has happened before and is still happening, and its all over charts, yet again i have recordings of live trades which will be posted soon. Selling this strategy was never a plan, but i have another project, a Trust Eye Hospital where i will be providing laser eye treatment to general public for free. 80% of revenue generated by strategy sales is going directly to the trust funds. One thing i don’t have is time, So patience is virtue and subscribe to my YouTube Trader G Shari for future updates. Also to know about the release of my FREE book.
    Thanks Again

    • Erron says

      That’s an incredibly wide question LOL!

      You really need to define your needs and current circumstances a lot more before I could give any kind of meaningful answer. As for automating strategies, I’m no longer much of a believer in this, although I continue to experiment with various prospects. For many years I’ve been trying to find an automated strategy that could be trusted to perform over the longer term, but failed. That’s why I am currently more interested in the idea of forex trading signals services: you still get the benefit of “making money while you sleep” without having to rely on unthinking automated software.

      Erron

  6. says

    Hey Erron, thanks for this great list, i wanted to ask you: in your opinion what’s better, robot trading systems or manual strategy systems that you learn from mentors in the forex markets?

    • Erron says

      Hi, thanks for the compliment :-)

      In my experience there is simply no substitute for a manual system that is tailored to YOUR UNIQUE SITUATION. Almost impossible to achieve with automated trading, at least with respect to the fine-tuning aspects.

      cheers,

      Erron

  7. Shauntae says

    I would like a strategy that works for 15 min- 1hr time frames. My Portfoilo is $100. I usually trade around London but it would be nice to find one that works for the Asian session.

    • Erron says

      I’d suggest the Bladerunner/Bladerunner Reversal/London Hammer strategies to start with. Plentry for you in those applied to the times you want to trade.

      Erron

  8. jorell says

    Hi there!

    I’m new to forex trading i just need a good advice..i’m at Pacific Time Vancouver B.C risking $250.
    I’m a short trader, or i can go long as long as i get a good PIPS. I tried my best to look for patterns and drawing supports and resistance, however i still lose money..so i’m almost giving up but i really want to learn this thing! and hopefully make money soon. Please help..i’m also considering going to lessons if i have to.

    • Erron says

      You obviously haven’t had a look at the start here pages on this site, otherwise as a new trader you wouldn’t be risking real money yet. Please have a look at:

      http://www.authenticfx.com/forex-currency-trading-beginner.html

      And then read everything else under the Start Here menu, to begin with. You must understand that you are at the very beginning of a long road, and success will not come quickly, especially if you try to run before you can walk. I would also suggest that if you want to spend money, don’t do it on trading as yet but on education, and for that you could try some of the courses at ForexMentor:

      http://www.authenticfx.com/forex-schools.html

      hope this helps, be patient!

      Erron

  9. JC Boone says

    I like the strategies listed but I didn’t really see much in the way of price action or using the news as a driver for movement. I’m a huge believer in both of these styles of trading and would encourage new traders learn a little bit about them.

    • Erron says

      I totally agree, which if you have time to read the rest of the site beyond this page you will quickly see. I always emphasise things like fundamentals, time of day, current market sentiment as well as raw price action. Selecting a trading strategy is like selecting a new car: the car can either get you from A to B or it can kill you, depending on how you drive it. How you drive it is largely dependent upon how well you pay attention to things like current conditions, risk management etc.

      Erron

      Erron

  10. zaheer says

    if your stratgies and knowledge is effective make money easy go what are you selling here instead.Are you a forex trader really!

  11. Mayo says

    My time zone is GMT + 5:30 and I am interested in short term intraday trading. I am a beginner, so I don’t know anything else to write about. I have been trading on the demo account, and I found forex trading very interesting. What kind of a strategy would be best for me and would also at the same time teach me a lot about the market? Your help is really appreciated.

    • Erron says

      I’d suggest you start by accessing the members area of AuthenticFX, which will also put you on a mailing list for a weekly mail out of the major posts from the past. Alternatively, you could have a look at the 10 Best Forex Trading Strategies course:

      http://www.authenticfx.com/the10bestforexstrategies2015

      You are wise to be trading on demo account at this stage in your trading, and the only advice I can give you apart from that is to be patient and at this stage, pick up whatever you can have value from trusted resources.

      Thanks for the contact, and best with it :-)

      Erron

    • Erron says

      The strategy with the highest win rate that I have heard of is the London Close Strategy:

      http://www.authenticfx.com/scalping-forex.html

      Unfortunately for me the London close occurs when I’m sleeping, so I only traded this strategy for a relatively short period. However, I was very impressed with its accuracy. At the time its authors were claiming around 90% win rate, although I think that “baskets” particular trades.

      Erron

  12. Joshua says

    Is there any decent auto traders that one can use? I’ve been looking at FAPTurbo but not sure I really want a bot managing my money. I’ve have my own basic strategy. I funded an account with $100 and it’s up to $500 in 4 months.

    • Erron says

      Not that I am aware of. The whole deal with forex robots has gotten pretty quiet in the last few years, particularly after the GFC struck. These days it seems, it’s just very very difficult to get consistency with them in such a volatile market. That said, I haven’t been keeping up with forex robots very much so maybe you will find something, but I don’t know of any.

      Erron

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