What is the Best Forex Strategy to Use?
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    What is the Best Forex Strategy to Use?

    What is the Best Forex Strategy to Use?

    This is the most asked question among new forex traders actually i have this question in my mind when I start forex trading, at that time I begin to search the web to find that best strategy and I spend a lot of time but I wasn’t able to find some thing called "the best forex strategy' but instead I learned and realized that there is no indicator or forex strategy that can make a lot of money or winning trades so there is no best forex strategy, but what a forex trader must have in order to be a successful is a strategy that can produce more winning trades than losing trades, a strategy with at least %70 winning percentage, this is the key rule for all good forex strategies, So to make money from forex trading you need a strategy with at least %70 winning percentage, there is no strategy wins %100 even successful traders lose money in forex whoever they have more winning trades than losing trades and that what makes them money constantly.

    To have a good strategy you have to formulate your own strategy because all available strategies online are general strategy and they won't work fine for you or make you any money because you have to test the strategy on a demo account for at least 1 month to fine tune the strategy according to your trading style or to what you have learned by doing trades on a demo account, this way you can learn when to enter a trader and when to exit and how to validate trade setups and how to avoid false trades that cause you to lose a lot of money, this is how successful traders formulated their own strategies and you too have to formulated you own strategy by practice any strategy you like on a demo account at least for 1 month to make it your own and according to your trading style, then when you find that its work for you and you were able to make profits on demo account then you can open live forex trading account to start trading with real money.

    What makes good forex strategy?

    Good Forex strategy is a combination of 4 key factors:

    Selection of Indicators
    Validation of trade setup
    Precise entry of trade
    Tested exit of trade


    Good forex strategy must have These 4 key elements in order to make more winning trades than losing trades or to have a at least %70 winning percentage, remember that you can't make profits just by selecting an indicator because if you do that chances are you will get a lot of false trade signals created by the market, the price will reverse and hit your stop loss causes you to lose your money , this is one of the main reasons why most of new traders are not making any profits trading forex.

    What you need beside selecting an indicator is a way to validate the trade signals as much as possible, by doing this you are avoiding more false signals and get more true signals which mean more winning trades and eventually more profits.

    The mistake that most of the new trades make is they only looking for indicator to use in their strategy but they don’t know anything about having a way to validate trade setup to decide wither to enter a trade or not, so it makes sense why most of the forex new traders lose money ,

    Therefore if you want to be a successful trader, you must have a way to validate a trade.

    The 3rd element of good forex strategy is the precise entry of a trade, it just as important as validation a trade signal, having a precise entry strategy ensure that you enter the trade at the right time which is at the start of the price movement towards your profit target , but without such entry strategy you can't enter trade at the begging of the price movement but the worst could happen you may enter late when the price is about to reverse, so remember precise entry determine whether you are going to make profits or not .

    Final key element you must have is tested exit, what this mean is that if you set the target profit of your strategy to 50 pips per trade then you must first back test this on demo account to see the chances of the price hitting your profit target and to find the best tested exit to your strategy this way when you move to real money trading you know when to exit the trade and collect your profits,

    As long as your strategy has these 4 factors, I can say that you have a good strategy on hand.

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    Last edited by tj1nino; 05-16-2016 at 04:56 PM.

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    Registered user Hukam's Avatar
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    Robo forex is a great source of forex trading strategies and from there we can choose a good list of trading strategy, but the demo testing would be essential before their use in real trading account. As you have said in your thread that a trading strategy which 70% winning accuracy would be good for a trader. Because there is no holy grail in forex so we have to manage our business with the consistent profit. Looking for consistency is good because trader's don't have to take high risk when they have a goal of it in mind. By the way thanks for the explanation of trading elements. Good thread mate keep it up.

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    the best forex strategy is the strategy that help the trader to analyze the market well and can be able to choose the best positions of trading, it help the trader by giving him good signal of trading, should choose the strategy suitable to his trading style and give him good trading results, and s he can make consistent profits with it easily and continuously

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    Registered user cutiekc's Avatar
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    You can't get any specific one, you can only be able to make one out of the strategy you are making use of, therefore before you would be able to make money from forex trading, the strategy you are to make use of has to be the one that you have learned and got to understand, gradually you will master it.

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    yes selection of indicator is also important, use the most important indicators and must try them on demo account which confirm you about success of use, otherwise it can give u loss on real account also, i am using mostly 2 3 indicators and earning here, actually practice on them more and more then results can be best after good experience

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    Quote Originally Posted by cutiekc View Post
    You can't get any specific one, you can only be able to make one out of the strategy you are making use of, therefore before you would be able to make money from forex trading, the strategy you are to make use of has to be the one that you have learned and got to understand, gradually you will master it.
    Properly sharpening our weapon might be a good word for that. If we want to get a weapon that we can depend on then that might be the wise choice for it. But there are no guarantee that we will success in there just because we wish for it. Even when we have a great confidence, we need to be prepared for the worst scenario too. Mastering a trading strategy includes the worst scenario since we need to know what kind of action will take later when the worst happened.

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    Quote Originally Posted by sekiryutei View Post
    Properly sharpening our weapon might be a good word for that. If we want to get a weapon that we can depend on then that might be the wise choice for it. But there are no guarantee that we will success in there just because we wish for it. Even when we have a great confidence, we need to be prepared for the worst scenario too. Mastering a trading strategy includes the worst scenario since we need to know what kind of action will take later when the worst happened.
    It is good for traders to always work for the success of their trading, while the safety of the trader is a good side on this issue. When trading in this business, there is always a good cause for traders to always make their success, but things has to be strategically planned, so that the trader is making accurate return always.

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    Quote Originally Posted by Sylvertee View Post
    It is good for traders to always work for the success of their trading, while the safety of the trader is a good side on this issue. When trading in this business, there is always a good cause for traders to always make their success, but things has to be strategically planned, so that the trader is making accurate return always.
    I think that all fx traders have their own liberty to choose the system they like in here and surely that will be the same in the trading way they like too. Some trader just like high risk trading and you can not blame them for taking high risk while they trade. As for me, trading with less accuracy is fine as long that is small ammount and all i need is big ammount when earn. As for how i am trading now, i am scalping.

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    Quote Originally Posted by Nasir Lakhany View Post
    I think that all fx traders have their own liberty to choose the system they like in here and surely that will be the same in the trading way they like too. Some trader just like high risk trading and you can not blame them for taking high risk while they trade. As for me, trading with less accuracy is fine as long that is small ammount and all i need is big ammount when earn. As for how i am trading now, i am scalping.
    It is so, traders have their liberty to choose the trading strategy they wnat to be using in the forex business, this is why we have the liberty to learn in the very way we want to. And i am sure that traders who learn well will have the chance to make success through what they know, and they will be successful when applying it rightly.

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    i think is good for a trader to come up with there own strategy and master the strategy. in forex market we have alot of trading strategy one can choose the best of them and study them well before using them. very successfully trader have come across choosing the right one. you can succeed in in forex market by using one strategy in all there trades

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