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Best Forex Trading Strategies by Grace Cheng

In the world of forex trading, many traders are always searching for the perfect strategy to use in all market conditions. However, the key to success in forex trading lies in understanding and implementing strategies that are suitable for the current market conditions. Grace Cheng, a successful trader, has developed her own 7 best forex trading strategies. But before we delve into these strategies, let's take a closer look at Grace Cheng herself.

Grace Cheng's Profile

Before becoming a successful forex trader, Grace Cheng graduated from the National University of Singapore with a degree in Biology. With a strong desire for financial independence, she decided to study forex trading after reading various investment books. After spending a lot of time on a demo account, Grace Cheng eventually became a full-time trader. She tends to trade major currency pairs like EUR/USD and USD/CHF and employs day trading strategies.

Grace Cheng was later contacted by Harriman House, a UK-based publishing company, to write a forex trading book. This led to the creation of her book that inspired this article, "7 Winning Strategies for Trading Forex."

Now, let's discuss Grace Cheng's 7 best forex trading strategies.

  1. 1. Market Sentiment Following

Following market sentiment is an essential part of forex trading strategy. Grace Cheng uses fundamental analysis to determine market sentiment, which can be recognized in 3 types: bullish, bearish, and uncertain. Understanding economic indicators is also important in mastering this strategy.

  1. 2. Trend Riding

Trend riding, or trend following, is one of Grace Cheng's flagship strategies. She recommends following established trends and has 6 execution steps in this strategy.

  1. 3. Breakout Fading

This strategy aims to identify false breakout signals and tends to align with trading in sideways markets. Entry orders are recommended based on small time frames like H1, and Stop Loss is positioned outside the support resistance range.

  1. 4. Breakout Trading

Breakout trading is a strategy to harvest large profits in a short time. Grace Cheng suggests confirming breakout signs by looking at price momentum strengthening and using various methods to measure momentum.

  1. 5. Low Volatility Breakout

This strategy seeks opportunities when price volatility is low, especially before the release of important news or fundamental announcements. The use of Bollinger Bands indicators to detect volatility and analysis of price patterns is used to see breakout opportunities.

  1. 6. Carry Trade

This long-term strategy aims to profit from positive swaps by selecting trading pairs with significantly different interest rates. Fundamental analysis is the foundation of carry trade success, as it is important to understand and follow central bank interest rate policies.

  1. 7. News Straddling

This strategy is based on high-impact forex news, to seek profit opportunities from large post-news release movements. Grace Cheng recommends several steps for this strategy, such as focusing on major pairs, using intraday time frames, and determining support and resistance.

The best forex trading strategy for a trader is a strategy that can be understood and applied correctly according to market conditions. Choose the strategy that best fits your trading style and needs, and study its use thoroughly. With good understanding, you can increase your chances of success in forex trading.


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