There are quite a few ways to develop your ideas. Most of them are free.
ZuluTrade is a social/copy platform that hosts thousands of forex traders who have opened up their portfolio to be copied. Actually linking up involves paying a small fee but researching who is making money at the moment is free and registering for a demo account atwww.zulutrade.co.uk takes seconds.
Filtering the signal providers/traders to show something along the lines of this week’s top performers shows yuriyFXtrader posted the below results over the last seven days.
It’s involved putting on 363 trades in EURUSD and that trade history is available and downloadable into Excel should you want to get an idea of a strategy that is working right now. It is of course possible to copy trade and let Yuri carry on doing most of the hard work for you. You’d have to carry out the required due diligence of course.
Another angle to take is to study the investors on the site and see who is making money and who they are following. One account that’s following Yuri (and other signal providers) is PEP1892327F. Holding an account at Pepperstone they’ve reported the following performance since October.
The socio-political newsflow at the minute is generating a healthy amount of volatility in the forex markets. A lot of these traders are making money out of the market moves and there are free ways to get a better understanding of that as well.
The below is a copy of some of the strategies detailed in the Pepperstone Market Report. This is sent out by email and again is free to account holders, including Demo account holders. Again it takes only seconds to set up one of those.
These are just two of the 15 free trading ideas in that daily research report. You’ll note the information goes down to quite a granular level and that the report includes the option to ‘Trade Now’ and post one of the trades to your Pepperstone account.
So, that’s thousands of strategy ideas at ZuluTrade and 15 more in-depth ideas from Pepperstone. All of that access from just two broker platforms. It wouldn’t be appropriate to give actual trading advice, but it is certainly a good time to be getting to know more about the forex markets.