How does the 5-3-1 strategy works?

[Bernado.jacob]

How does the 5-3-1 strategy works in forex trading?

 

[Hojat]

I did not hear about it. Please explain this strategy more clearly

 

[Gilbert.Jer]

5- Choose five currency pairs to trade
3- Develop three trading strategies
1- Pick one time of day to trade

 

[skrimon]

The 5-3-1 strategy simplifies forex trading by focusing on:

• 5 Currency Pairs: In-depth research on a manageable number of pairs allows you to understand their behavior better.
• 3 Trading Strategies: Mastering a few well-defined strategies helps you identify trade opportunities.
• 1 Trading Time: Choosing a specific daily timeframe ensures consistency and avoids chasing the market all day.

It's a great approach for beginners to build discipline and a solid foundation for forex trading. Let me know if you'd like to hear more about any of these aspects!