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Potentially Increase Your Trading Profits With ForexHero’s Strategy Designer

ForexHero’s new Strategy Designer offers limitless possibilities to implementing complex strategies easily. In this tutorial, we shall explore a typical use case – Long-Short strategy.

A Long-Short strategy is commonly used in Futures trading as a Short position can be executed without having to own any Base currency. However, spot trading is also possible. The trader just needs to hold a net position of the forex. For example, if you intend to trade $1000 worth of AAPL, you will need to hold $1000 worth of AAPL forex as well as $1000 in USD.

For this example, we will explore a typical Long-Short use case for Strategy Designer. Take a look at the chart below.

Long Short stock trading strategy using Strategy Designer

There are two bots that have been created

Bot 1 – LongRSI (Long strategy. Buy RSI = 25. Sell RSI = 60)

Bot 2 – Short RSI (Short strategy. Sell RSI = 65. Buy RSI = 35)

Bot 1 has been daisy-chained to Bot 2 in the Strategy Designer. Bot 1 will activate and complete and after calling Bot 2, Bot 1 will be deactivated. The chart clearly shows how the inter-play of Bot 1 and Bot 2 helps the trader to capture market movements while maximising profits.

If only Bot 1 is activated, the chart clearly shows only two profitable traders. However, if Long-Short strategy has been implemented, four profitable traders would have occurred.

Our team will showcase more examples in future articles. For now, we hope you will be amazed by how a simple Long-Short multistrat can prove to double a trader’s profits.

Disclaimer: All trading carry risks. This article does not serve as an investment or trading advice.