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  1. #1
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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.

  2. #101
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    if traders have good understanding to analyze the market and make approaches with it and so they know to get the entry point and also exit point where the risk is set based on good managements. and the main ideas here that traders have to understand for what is a good thing for them and master it with well and so know to complete the weakness also improve it. and with experiences they will get the best one for trading forex

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  3. #102
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    Good post with topics and good explanation. I liked your explanation. First of all, you try to share with us what is the best strategy and explained it. And then what makes it best. Means what have in this system that this is a good system. I tell you it's not easy to explain with a proper answer. But you explained it. Thanks for sharing with us.

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  4. #103
    Trader cutiekc's Avatar
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    There are so many trading strategies to be used when trading, there is non which is best however if we intend making good amount of money, all trading strategies are all good it all then depends on the one which you have learned and got to know how to make use of it when trading that is how you will get to make good amount of money from forex trading, it is a risky business so learning always comes first.

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  5. #104
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    Quote Originally Posted by cutiekc View Post
    There are so many trading strategies to be used when trading, there is non which is best however if we intend making good amount of money, all trading strategies are all good it all then depends on the one which you have learned and got to know how to make use of it when trading that is how you will get to make good amount of money from forex trading, it is a risky business so learning always comes first.
    I think that surely many strategies we can use in here but there are no certain way to know which one will be stronger in here. If we trully want to make money then any strategy will just need to be tested out. Once we have tested all strategies then certainly we will know the answer ourselves as long we trully try to use our own brain to think and learn first.

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  6. #105
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    Quote Originally Posted by Yul View Post
    I think that surely many strategies we can use in here but there are no certain way to know which one will be stronger in here. If we trully want to make money then any strategy will just need to be tested out. Once we have tested all strategies then certainly we will know the answer ourselves as long we trully try to use our own brain to think and learn first.
    Even if we are using many strategies, it will not be guaranteed we will success in here. The crucial thing will be how you can make the prediction in here and how you can make your trade decision with that first. As long you can do it properly, your own chance of earning will be very huge. Traders that do not learn will be less likely to success in return too.

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  7. #106
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    Quote Originally Posted by sekiryutei View Post
    Even if we are using many strategies, it will not be guaranteed we will success in here. The crucial thing will be how you can make the prediction in here and how you can make your trade decision with that first. As long you can do it properly, your own chance of earning will be very huge. Traders that do not learn will be less likely to success in return too.
    Using too much strategies in trading will not be good at all. We need to think only the strategies that can trully make the money and it will be even better if they have been proved already. There are many inconsistencies in market and sometimes we will not get the guarantee our strategy will turn out to be working which makes us confused.

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  8. #107
    Trader Hukam's Avatar
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    Its totally depend upon our skill, I know some trader's who are my friends are they are able to manage their account with differ trading strategies but they are working with differ trading accounts for differ trading strategy, I don't know that its easy or not in short term time frame but I believe that in long term time frames its possible to manage couple of startegies in forex, but personally I also apply only the support and resistance based trading strategy in forex.

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  9. #108
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    Quote Originally Posted by Hukam View Post
    Its totally depend upon our skill, I know some trader's who are my friends are they are able to manage their account with differ trading strategies but they are working with differ trading accounts for differ trading strategy, I don't know that its easy or not in short term time frame but I believe that in long term time frames its possible to manage couple of startegies in forex, but personally I also apply only the support and resistance based trading strategy in forex.
    I believe the more skill we have then we will be able to get the better result too in return. Traders that can manage a good trading strategy will got a better time in here certainly. If trading is not easy over the longer term then we need to make our own research to find out the result too. Longer term if we can see the chance to do multiple strategies then we need to test it.

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  10. #109
    Trader debian's Avatar
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    Quote Originally Posted by Yul View Post
    I think that surely many strategies we can use in here but there are no certain way to know which one will be stronger in here. If we trully want to make money then any strategy will just need to be tested out. Once we have tested all strategies then certainly we will know the answer ourselves as long we trully try to use our own brain to think and learn first.
    Well anyhow should we know that using any trading strategies there is no certainty of profit, even we can be sure there is the possibility of loss on each trade. but in my opinion any trading strategies will be optimized when adjusted for time on the market, as each session on market movement will have a character that is different. so it should be studied first and tested to the condition of each session and adjust to the trading strategies

    Trading strategies owned trader has certainly had really maximize the best possible way. Market movements are very liquid but that does not mean we will not be able to get profit. We can take advantage of the price movement to get maximum profit in this forex

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  11. #110
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    There are so me rules which we have to follow in trading and with the help of them we can at least become consistent profitable with lower risk here, I am agree with those word's there every time our trade have a risk here in forex and to minimize this or to bring consistent earning in this business it would be important to work with a good money management, risk management, stop loss, risk and reward, etc. I believe that when we are adopting all these then trading will be profitable for us. Although a good experience is required to use these wisely.

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