Forex trading, as we know is a complicated process, which is not suited for all type of traders. There are complexities involved, which make it difficult for beginners to understand and trade forex. Therefore, a number of strategies, which can be used by beginners, are explained on various forums and websites. Here we discuss the advanced strategies, which the advanced or the experienced traders use in order to make money with forex. Though there are many advanced strategies, here we discuss only a few.

Trend line trading strategy

As the name suggests, this strategy is based on the theory of following the trend. As a trader, you must be able to spot a main trend and follow it. Though there are times, when a trader may go against the trend, but that is a separate issue. For this strategy, the timeframe should be 30 minutes, 1 hour, 4 hours and daily. You should look for the main trend in the chosen period and place a stop order to sell, 5 pips below the point where the lowest point of the candle intersects or touches the candle. The stop loss can be placed above the recent swing high. The profit target should be placed within the previous swing low level. This is the short entry rule with this strategy and for a long entry; you should do the opposite of what is mentioned.

True and False Trend Line Breakouts

This strategy makes use of the theory that price levels break a trend and a trader can benefit from this price breakout. However, it is to be ascertained whether the breakout is true or false. The most popular and the simplest, method is to wait for some time to see whether the price returns to its position. If the price holds and does not returns, it is confirmed that a breakout has occurred and a trader can enter near the break out point. Another way to judge the breakout trends is to consider the swing highs when the market is in an uptrend and consider swing lows when the market is in the downtrend.

Some of the other advanced strategies are:

• Trend lines breakout system
• Fibonacci trading
• Trading breakouts of the breakouts
• Candles strategy
• System selection technique
• Picking tops and bottoms
• Automated simple trading with daily range
• THE SWING 15 min TECH
• 30 min ATR breakout
• Early bird Breakout System
• Neat entry: RSI + Full Stochastic