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Forex traders often use strategies like technical analysis, where they study price charts and indicators to predict market movements, and fundamental analysis, which involves looking at economic news and events that could impact currency values. Additionally, many traders use risk management techniques to protect their investments, such as setting stop-loss orders to limit potential losses.
Trend Following: Traders buy or sell based on the direction of the market trend.
Range Trading: Traders buy at support levels and sell at resistance levels within a defined price range.
Breakout Trading: Traders enter positions when the price breaks through significant support or resistance levels.
Scalping: Traders make quick trades to capture small price movements over short periods.
Carry Trade: Traders borrow in a currency with a low interest rate and invest in a currency with a higher rate.
Fundamental Analysis: Traders analyze economic news and data to inform their trading decisions.
Technical Analysis: Traders use charts and indicators to predict future price movements based on historical data.
Risk Management: Traders set stop-loss and take-profit orders to manage their risk effectively.