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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 cutiekc View Post
    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.
    I dont think so that every strategy can be the best. But we have to find out which strategy could be the best by doing a lot of practice. Forex is like a hidden treasure for the traders. This hidden treasure is available only to those traders who put their effort and hard work whereas this treasure remains hidden for those traders who don't work hard.

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  3. #22
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    [lang=ar]Robo forex is a great source of forex trading strategies and from there we can choose a good list of trading strategy, but the demo testing would be essential before their use in real trading account. As you have said in your thread that a trading strategy which 70% winning accuracy would be good for a trader. Because there is no holy grail in forex so we have to manage our business with the consistent profit. Looking for consistency is good because trader's don't have to take high risk when they have a goal of it in mind. By the way thanks for the explanation of trading elements. Good thread mate keep it up.[/lang]

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  4. #23
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    Something that I have got to know about forex trading is that there are so many trading strategy available, therefore the one you should think of making use of has to be the one you have learned and understand. Furthermore, I think we should also know that there is no best trading strategy, this means that you only get the best when you devote your time to learning.

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  5. #24
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    Personally, I have asked and researched about this so many times and I have not been able to get a specific answer to it, which leaves me with no option other than making me believe that there is no actually trading strategy that is best. Those who advice you on their being the best has actually give more time to it and learn it, which think we need to do the same thing too.

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    Quote Originally Posted by sharegistFX View Post
    Personally, I have asked and researched about this so many times and I have not been able to get a specific answer to it, which leaves me with no option other than making me believe that there is no actually trading strategy that is best. Those who advice you on their being the best has actually give more time to it and learn it, which think we need to do the same thing too.
    You have concluded right my friend, there is no actual trading system that is best, the trader is the one that will try harder with the ones they know, and before they knew it, they will be making money regularly with the one they know. If traders did not plan well with what they know, it will never give them the success they want.

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    Quote Originally Posted by Sylvertee View Post
    You have concluded right my friend, there is no actual trading system that is best, the trader is the one that will try harder with the ones they know, and before they knew it, they will be making money regularly with the one they know. If traders did not plan well with what they know, it will never give them the success they want.
    I think that trading systems will always have their own best partner so there are always some other else that will like your own trading plan even if you have disregarded them. It will always depend on how we trade on whether we like them or not first. So there might even some of your own strategy that you like and you can use but i simply can't do anything about it.

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    Quote Originally Posted by Nasir Lakhany View Post
    I think that trading systems will always have their own best partner so there are always some other else that will like your own trading plan even if you have disregarded them. It will always depend on how we trade on whether we like them or not first. So there might even some of your own strategy that you like and you can use but i simply can't do anything about it.
    I quess that trading system need to be controlled very well because they are the thing we can rely when we are in a pinch. Trading is just about how you utilize your own plan and use them to the maximum potential to earn. If you find some kind of wall that you can't do anything about then it is your own homework to finish them even though i know it will be hard.

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  9. #28
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    Quote Originally Posted by Nasir Lakhany View Post
    I think that trading systems will always have their own best partner so there are always some other else that will like your own trading plan even if you have disregarded them. It will always depend on how we trade on whether we like them or not first. So there might even some of your own strategy that you like and you can use but i simply can't do anything about it.
    Yes when we have decided on working with a strategy or trading system first we make sure we know it well. We should work with a trading system with good psychology. So make sure that you are not getting into forex because of some stress or something, make sure the only reasons to involve in trading is that you see a good opportunity to trade.

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    I think when you want to start trading forex in these market and have something to put together there is always something we know about the trades we have there is always be sure that we can trade forex with just understand the better working inforations we know there is something we know that makes it better for us to push to the right trading position

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    [lang=id]
    Quote Originally Posted by Kanyua View Post
    I think when you want to start trading forex in these market and have something to put together there is always something we know about the trades we have there is always be sure that we can trade forex with just understand the better working inforations we know there is something we know that makes it better for us to push to the right trading position
    I think that all traders that want to start trading forex need to know a lot of thing such as what are the things they need to focus in making an analysis. Pushing everything for the right trading is not good at all and we need to reduce that kind of risk. gathering informations from this business and push the position sometimes might backfire again at us if we too persistant.[/lang]

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