Most beginner traders jump into the forex market without a strategy — and end up losing money. The truth is, a reliable trading plan is the backbone of long-term success.

Here are 5 tried-and-tested forex strategies to get you started:

1. Trend Following with Moving Averages

Use the 50 EMA and 200 EMA to identify bullish or bearish trends. Trade in the direction of the trend to improve your probability.

2. Support and Resistance Bounce

Mark key zones on your chart where price previously reversed. Look for price action confirmation like pin bars or engulfing candles.

3. Breakout Strategy

Identify tight consolidations. Trade breakouts after a strong move, ideally with volume confirmation.

4. Fibonacci + RSI Confluence

Combine Fibonacci retracement levels with RSI divergence to spot high-probability entries.

5. London Open Breakout

Trade the volatility during the London session open (8 AM GMT). Ideal for day traders.

Choose one strategy, master it, and then scale up. Discipline beats complexity every time.