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Thread: What is the Best Forex Strategy to Use?

  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. #2671
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    Quote Originally Posted by Eneregha View Post
    The best strategy to use depend on your experience and knowledge about the strategy that you want to use, that's what determine the best strategy that you can trade with, you just can't come and be trading with a strategy that you don't have a good experience and understanding about, the strategy which will work best for you depend on your experience and understanding about the strategy you want to be using
    I always like to tell forex traders that there is no best strategies, best will be personal depending on the experience of that trader. What we know might be different from what we use too, it is until we are using our experience on our strategy correctly that we will get to be gaining highly through it. We should make sure that our strategy is simple, we should not think it is going to be perfect though, we have to work on the strong management in addition to it.

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  3. #2672
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    Quote Originally Posted by mudassor View Post
    Yeah without experience we cant prefer any method for working because without our knowledge and without skills to manage the trade right we will lose the whole trade process easily in this market so a trader should give time for learning [properly and also with struggles and practices on a trade method we can obtain success .
    I am agree with you , this is our experience that talk to our mind to prefer or neglect any methods for the security of self in this market so if we have good knowledge and also we learn our trade method properly by doing consistent practices and struggle son it them it will be easy for us to gain a successful trade from any method .

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  4. #2673
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    Quote Originally Posted by BOSST View Post
    There is no best Forex strategy to use in this market,like people will say there is no holy grail in Forex trading,there is no trading system that will give you 100% so the best thing to do is to look for a consistent trading system that we can use to trade and earn as much as we can,that is the best way out.
    If trader has good knowledge and trading experience then he would be able to trade with any strategy no matter.Forex trading is not easy and simple trade has to do hard work for getting success in forex.There are so many and different strategies in forex and i thing scalping is one the good strategy for trading.

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  5. #2674
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    There is no general best strategy, so it's a personal something cause what work best for you might not be the best option for others, and maybe what's working for others won't work for you, so the best strategy to trade with just depend on each and every forex trader, because there is no general best strategy that all traders can trade and make money with easily, it's a personal something for all trader's.

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  6. #2675
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    A best trade strategy is developed after hard working and consistent practices on a trade strategy either simple or complex so its sin our hands to give perfections to a trade stately at higher level so with give proper attentions to a trade method and also gain experience we will achieve extraordinary results from this market .

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  7. #2676
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    When you are new to the market, you will get to see a lot of trading strategies that has been said to be the best. But only some little learning and you will see for your self that there is actually no best trading strategy in the market. The best one is the one that traders has learned, for instance I have learned price action and it has been working for me ever since then.

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  8. #2677
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    Not any best and strong strategy available for trader to get daily basic good earning from stock market. Always trader make it strong and best with our good experience and knowledge however when he could start our strategy in market then easily generate good profit or loss from it in lower and higher time frame period.

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  9. #2678
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    Quote Originally Posted by zuhaib View Post
    Not any best and strong strategy available for trader to get daily basic good earning from stock market. Always trader make it strong and best with our good experience and knowledge however when he could start our strategy in market then easily generate good profit or loss from it in lower and higher time frame period.
    Yeah in the Forex market every trade strategy is meaningless for winning without have experience and knowledge about it so we should not trust on any trade strategy and try our work hard to make a strategy as very best and accurate that will give us signs to make a profitable trade easily so this is possible only with our good efforts and hard work .

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  10. #2679
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    Quote Originally Posted by zuhaib View Post
    Not any best and strong strategy available for trader to get daily basic good earning from stock market. Always trader make it strong and best with our good experience and knowledge however when he could start our strategy in market then easily generate good profit or loss from it in lower and higher time frame period.
    Yeah you are right bro getting success and generate good profit from market you have need to build strong and effective strategy for trading after it get success possible for our on this business. I think always trader make strong strategy for trading with good experience and knowledge however he could generate good earning from market easily.

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  11. #2680
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    Best and strong strategy are wish for every trader to get success on this business and try to generate good profit from market. If you can always make strategy with good planing and hardworking for trading then you should always make strong and reliable strategy for trading and try to generate good earning from this business.

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