How to develop Forex Trading Strategy?

There are various ways by which you can develop Forex trading strategy. Strategies range from the more conservative with low risk approach or sometimes at the most extreme with aggressive high risk strategy. In order to develop proper Forex trading strategies, traders should first decide about what type of Forex traders they want to be. This means that they need to decide whether they want to be a Forex day traders or position traders. In addition to this, traders need to identify what time frame to use. Each currency pair is monitored over few time intervals that can be in the range of minutes, hours, days, months or weeks. For those traders who are busy and they do not have enough time to watch Forex charts, they can develop the Forex trading strategies which use longer time frame to do technical analysis.