First question should be:
What are your expectations on the returns for your excess money?
If you want to make millions from your US$100, go invest in lottery tickets, but, of course, there are no guarantees.
As in any investment, whether that be with a bank and other financial & assets institution, you must have a clear idea & expectations on the returns of your investment.
Unfortunately, most Newbies & Wannabe-Forex Traders forage into the Forex market did so with high expectation to make a fortune with minimum capital investment...e.g. using their hard earned or borrowed money to trade a.k.a gamble in the forex market for huge returns. That misconception is derived from friends or reading about some lucky person(s) who did managed to make large amount of money based on luck more than anything else. Like winning the lottery.
I do know a couple people who are perfectly happy with a 1.5-2% monthly returns on their retirement money trading the forex & stock market.
At 1.5% monthly returns, that equates to 18% yearly returns which is far higher than any banking institution will pay for fixed deposits. But discipline is the key to the success of this strategy which most Newbies and Wannabe Forex Traders simply don't have.
So, when we say "strategy", that has a wide meaning but it really depends on what your expectations are for the returns on your money and how you want to go about making your money works for you.
Seriously, how difficult is it to make 1.5% monthly profits on your trading account?
Each week, there are bound to be some market moving news and, after the news & data has been published, we can see & know which direction the currency pair we are trading is going.
If it's heading North, wait for some pull-back and enter a Long position and... voila!... in seconds we are up (depending on your risk appetite) at least 1.5% and more on our trading account with relatively little to no risk. Do that every week and that equates to at least 6% per month = 54% per year. That's also one "Strategy" which does not require hours of technical analysis.
Happy & safe trading!