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Thread: 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.

  2. #3171
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    Quote Originally Posted by Ghulam View Post
    If trader has good knowledge and trading experience then he would be able to trade with any strategy.Forex trading is not easy trader has to do hard work for getting success demo accounts are very helpful for trader for the purpose of knowledge.There are so many strategies in Forex and swing is good strategy for trading.
    Swing are good choice for beginner everyday increase some pips good profit from stock market. But you have need to understand market swing area and oversold and overbought area well after getting good experience and knowledge about these both thing well you can develop everyday strong and successful profitable strategy for trading.

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    Trader Killer_Queen's Avatar
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    Quote Originally Posted by audic5 View Post
    Swing are good choice for beginner everyday increase some pips good profit from stock market. But you have need to understand market swing area and oversold and overbought area well after getting good experience and knowledge about these both thing well you can develop everyday strong and successful profitable strategy for trading.
    swing is one of trading style and it is not included as trading strategy. swing, scalping, and long term trading are styles we can choose to count on how much profits we want to make and how fast we want to execute the trades. meanwhile, trading strategies has different functions to give us information about market entry and exit point, while calculating the rest of possibility we can win or lose.

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    Trader famousfx's Avatar
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    All the strategies traders are using for trading analysis are good and profitable but the strategy is going to be best by the efforts trader put into it for good practicing time and carefulness to used the strategy.trader must be patience and following the trading rules with the strategy.

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  5. #3174
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    Quote Originally Posted by Faheem222 View Post
    In Forex business there are so many strategies in Forex and i think the result of most strategies are good and profitable it also depend on the trader knowledge and his trading experience.Forex trading is not easy trader has to do hard work for getting success.Candlestick strategy is one the good and strong strategy for trading.
    Success is achieved if we work on a best trade strategy and with selecting a suitable trade strategy and good learning skills this will be very easy to get the best and suitable results through it so we all need a best trade strategy that is essential for a good trade with higher winning capacity and we can be safely earn success from that specified trade strategy .

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  6. #3175
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    Quote Originally Posted by famousfx View Post
    All the strategies traders are using for trading analysis are good and profitable but the strategy is going to be best by the efforts trader put into it for good practicing time and carefulness to used the strategy.trader must be patience and following the trading rules with the strategy.
    In Forex business there are so many strategies and i think the result of most strategies are goo and profitable it also depend on the trader knowledge and his trading experience.Therefore trader should spend his good time for learning demo accounts are good for trader for the purpose of knowledge.Scalping is one the good and profitable strategy for trading.

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  7. #3176
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    The best trading strategy to make use of is the one that you have learned how it works, have used it to master the field of forex trading and gained huge trading skills on it through practicing over time. We can never develop best trading system from any trading system we have not fully understood how it works and how to make use of the trading tools it was developed with.

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  8. #3177
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    There are many good strategies that can be profitable if trader has experience and market knowledge. But nobody can tell to new trader what strategy to use and which strategy will be the best for particular trader because every trader has his own market knowledge and different trading methods. Only trader can decide which strategy is the best for him.

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  9. #3178
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    There are a lot of best trading strategies, what the trader needs is that they should master their trading methods, success gets to become more better depending on the experience the trader has gotten, if the trader has spent a lot of time in the business and then developed their trading strategy, I think the trader will be able to have the best trading strategy from experience and know what works for them.

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  10. #3179
    Trader maryrosi's Avatar
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    Quote Originally Posted by Darkhorse View Post
    There are a lot of best trading strategies, what the trader needs is that they should master their trading methods, success gets to become more better depending on the experience the trader has gotten, if the trader has spent a lot of time in the business and then developed their trading strategy, I think the trader will be able to have the best trading strategy from experience and know what works for them.
    yes, a good strategy is a strategy that can be obtained from our experience in trading, because with that strategy we have passed many things, from good and bad things, so we get a strategy that matches our own trading character and we already know all the shortcomings and advantages of our own strategy, so success will come to us alone.

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    Trader Batavia's Avatar
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    all strategies are good but you only need choice the one are suit for you you can not use many strategies it can make you confused, try to use only one strategy and try to consistence to learn it and understanding it and you will be know when is the good time to use that strategy to give you profitable trade

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