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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. #3331
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    Looking for best trading strategy will only leave us more confuse than ever,what we need is to make sure that we work on whatever trading method we have and make sure that it produces the best result,once it is consistent with producing pips then we are definitely good to go as traders.

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    Before a trading system can be classified as a good one, there are some few things that must be present in the trading system, ability of the trading system to identify the right direction of the market at all time i,e, the trend of the market , having a good entry and exit point, flexibility or simplicity of the system, good money and risk management, having the ability to know when a market has reached the oversold or the overbought,and so many others like that .The the trader's factors is also a critical matter.

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    Every trading strategy is best and perfect for him if we can daily basic good learning and spend some more then time to analysis the market and try to understand market exit and enter point well if one time we can enter the market in lower risk then getting everyday some pips good profit from market are very simple matter for trader.

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    We all have the right to choose and trade with any strategy we want and have the right to refer it as the best strategy, there are a lot of strategies out there so all trader's couldn't refer the same exact strategy as the best, there are many strategies so you need to choose the most promising one and make it the best strategy for yourself.

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  6. #3335
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    Quote Originally Posted by BOSST View Post
    Looking for best trading strategy will only leave us more confuse than ever,what we need is to make sure that we work on whatever trading method we have and make sure that it produces the best result,once it is consistent with producing pips then we are definitely good to go as traders.
    If trader has good knowledge and trading skills then he would be able to trade with any strategy.Therefore trader should spend his good time for learning and do more practice for getting good trading experience.Demo accounts are good for trader for the purpose of knowledge and testing a strategy.Swing is the best strategy for trading.

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  7. #3336
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    Quote Originally Posted by kaashi View Post
    A good and strong strategy always help the trader in making good capital 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 and testing a strategy.There are so many strategies in Forex and scalping is best and strong strategy for trading.
    These type of strategies trader always make it according to our experience and knowledge and which trader take these both thing well he could not anytime loss our strategy on market. I know that thousand of strategies are freedom on this business but scalping is not best strategy for trading and more then time trader have losses our money from this way.

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  8. #3337
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    Quote Originally Posted by Eneregha View Post
    We all have the right to choose and trade with any strategy we want and have the right to refer it as the best strategy, there are a lot of strategies out there so all trader's couldn't refer the same exact strategy as the best, there are many strategies so you need to choose the most promising one and make it the best strategy for yourself.
    It is true we have complete freedom to chose any strategy in market , if we use same strategy which is not successful again and again with the pair which are also not so much good in favor so in results we face losses , we must change our strategies and pair according to the change we expect in market for maximum successful trade .

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  9. #3338
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    Quote Originally Posted by BOSST View Post
    Looking for best trading strategy will only leave us more confuse than ever,what we need is to make sure that we work on whatever trading method we have and make sure that it produces the best result,once it is consistent with producing pips then we are definitely good to go as traders.
    I agree with you that looking for the best strategy will only confuse us because there is no the best strategy. There are only good and profitable strategies and the strategy success depends on traders experience and market undertsanding. Strategy does not work alone and it is the trader who does the strategy profitable.

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  10. #3339
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    Quote Originally Posted by Runner View Post
    It is true we have complete freedom to chose any strategy in market , if we use same strategy which is not successful again and again with the pair which are also not so much good in favor so in results we face losses , we must change our strategies and pair according to the change we expect in market for maximum successful trade .
    If we can everyday working on stock market according to our experience and understand market all type of simple or strong situation well then we can easily develop strong and successful strategy for trading and generate everyday some pips good earning from it. Which trader are faces loss from it he could take some big risk to trade but does't take large amount of money in our trading account.

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  11. #3340
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    Quote Originally Posted by audic5 View Post
    Every trading strategy is best and perfect for him if we can daily basic good learning and spend some more then time to analysis the market and try to understand market exit and enter point well if one time we can enter the market in lower risk then getting everyday some pips good profit from market are very simple matter for trader.
    In Forex business so many strategies are available and i think the result of most strategy are good and profitable it also depend on trader knowledge and his trading experience.Demo accounts are good for trader for the purpose of knowledge.I use the trend line strategy for trading because by using this strategy analyzing the trend is very easy for trader.

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