Any forex strategy you choose has the potential to deliver big profits, however, some will tell you that a monthly, weekly, daily or intraday trading strategy is the most effective.
In reality, there can be profits in any forex strategy as long as you are well aware of the market movers and signals at any given time, and you have a clear understanding of all the elements that support your approach to the market.
Some traders base their forex strategy in long term investments (monthly or weekly positions), while others will build theirs around daily or intradaily positions that might be open no longer than a few hours or even minutes (this traders are known as scalpers).
A long term forex strategy will probably earn you 100 or 200 pips in one trade, but that is probably all you will gain within a month or a week. But on the other hand, a well carried intraday trading strategy can deliver many little 10 or 20 pip trades during a single day, meaning that maybe you can total anything between 80 to 160 pips in one day using this approach.
The intraday forex strategy benefits from the fact that the forex market, whether moving up or down within any particular currency pair, will always make small fluctuations that you can profit from during the day.
Which approach is best for you will depend greatly on your personal investment and risk management style, and also on how much time you can dedicate during the day in order to follow the market trends and spot the right entry points for a profitable trade.
I have a preference for the intraday forex strategy because of its profitability and because I have some time to spare, but mostly because I have the assistance of a software I discovered a while ago, which places trades by itself based on the market trends occurring both during the day an during the night.
This way, I can go on trading all day and all night even when I am not in front of my pc, profiting from of every little window of opportunity that might open to scalp a few pips out of the market. With this approach, my intraday trading delivers about 120 pips daily, which in my particular case means I earn about $3,000 per month with a 5,000 investment.
So the intraday trading can indeed be the most profitable approach, but it will demand that you stay very attentive at what is going on within the market on a minute by minute basis, unless of course you have a software that stays on guard while you are busy with your job or anything else that might keep you from continuously analyzing the market trends.
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