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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.

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    Quote Originally Posted by milesfx View Post
    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
    For now I have one single trading strategy and I am fully dependent upon that strategy, I am agree with your words that one single trading strategy is enough to earn but then you need a solid hard work and practice upon your trading system. You should have a full understanding of your trading strenghts and should work upon them on regularly bases. You should also pay attention on your weak points of trading.

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    Registered user cutiekc's Avatar
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    Well, you will never know the best trading strategy to make use of unless you learn, therefore I will encourage us to put much more efforts on learning when we do, we will be able to understand the market. There is no just perfect trading strategy, the only one that would be perfect or close to perfect is the one we have learned and practice.

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    The best way to trade in forex to get profitable trades is trade for long term, use default indicators, take small lot size, keep constant lot size in all trades, always set stop loss and take profit to every trade, make proper managment plan on each trade and follow both technical and fundamental analysis.

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    Quote Originally Posted by forexlearner View Post
    For now I have one single trading strategy and I am fully dependent upon that strategy, I am agree with your words that one single trading strategy is enough to earn but then you need a solid hard work and practice upon your trading system. You should have a full understanding of your trading strenghts and should work upon them on regularly bases. You should also pay attention on your weak points of trading.
    one trading system or strategy will give us good results if only we have mastered and implemented them with well, and this is about the skill and ability to control themselves from the emotion, very important for traders to have both of them and work together, then although we use the simple trading system, then the results is great

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    the best strategy is to put together the best of every informations we have to work and be sure in the right the best ways we are always suppose to understand the given issues of the market and we are always able to understand the value,its all good when it comes to make forex really work right

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    Hence we plan to make a good trade with forex trading, we must see the need to trade always with the best system we have developed for trading. To have a good strategy, it's very important we practice and learn in a good profitable way and this will really help us make good stable profitable trades all the time. A strategy will be good as long as it can provide stable income for us more of the time.

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    Quote Originally Posted by Ifycoguy View Post
    Hence we plan to make a good trade with forex trading, we must see the need to trade always with the best system we have developed for trading. To have a good strategy, it's very important we practice and learn in a good profitable way and this will really help us make good stable profitable trades all the time. A strategy will be good as long as it can provide stable income for us more of the time.
    Traders can not just make good trades and decisions in the market, they will have to earn this through their developmental efforts in this business, and they will develop when they are sure of the practices they are making trade with. Traders will need more of practicing to make sure they are what they wnat to be in the business.

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    Registered user cutiekc's Avatar
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    Well, there is no best trading that you would easily get, the way you would be able to get an easy trading strategy is by you giving more of your time to learning, when you do give more of your time to learning, you would later on the long term start finding forex trading much more easier, so therefore trading is a risky business and only the experienced would succeed.

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    Forex trading is all about the trader in that you have to make your own individual strategy from the beginning of the trading all the best at your earliest convenience trading way for the small trades that and the overall destination that you would want to be I n a certain amount of time good strategy should be workerble

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  11. #20
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    Every strategy is the best, every trading strategy have got the potential of being the best, what we really need to do is that we really need to learn and understand the trading strategy, when we learn we can earn, that is what I am so sure about in the forex trading market. Furthermore, if we don't learn there is no way we would be able t have the best trading strategy.

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