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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. #4141
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    Every forex strategy are best and profitable for trader if you can make strategy time with good learning and survival the market more then time frame then you should idea for it which time frame are best and perfect for trading in this market. After it next time you should know that different between strong or weak strategy about this business.

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  3. #4142
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    Different strategies are available for any forex trader to make a choice from however most people might not have the proper understanding about which one will ultimately work for them, a forum like this where we have many traders can help when you are confused about choosing the best strategy, just select from the journal section and make improvements in what you see there.

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  4. #4143
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    A best strategy is come from the hard working and use of good skills also matters for taking the suitable strategies so to make a strategy very wonderful for self is rely on the experience as well as our knowledge and use of working skills with take the right way to open the trade also important for working very better .

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  5. #4144
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    Quote Originally Posted by mudassor View Post
    We can make the strategy better for self if we do practices limitless so we should pay serious attentions on the practices and spend the quality time for learning which indeed very much important for us to make the best strategy and earn through that best method if we completely ought it so we must sure we have the better options for trade here .
    Practice is associated with demo and if we do limitless practice then we can be wasting our time, we however have to do enough practice. For a strategy to be good for us, we need to be able to achieve good level of accuracy with it and good profitability and that needs practice for sure. To a large extent choosing a type of strategy also depends on our trading style and preferences and so knowing that too is necessary.

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  6. #4145
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    Unless there are one or two well understood strategies in our trading arsenal we should not dare touch live, but prioritize practice with demo. It is through this practice and back testing on demo that we can come across strategies that are best specifically for our style of trading. Strategies cannot be actually classified as good, better or best because one trader might regard one strategy as best while the same strategy can be looked down by some other trader.

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  7. #4146
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    First of all, there is no best trading strategy to be used, general learning is always needed, in as much as we want to make money from the market, it is obviously needed that we have to follow the right learning approach and then be sure to always make sure that we have what it takes to become successful the demo account gets to give us all what is needed to become profitable.

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  8. #4147
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    This is what we get wrong in forex trading business. Because as a forex trader, what we need to do is that we need to follow the simple. Therefore we should be the sort of trader that gets to learn and have our own trading basic method. The best trading strategy is self use. Therefore, you have to always learn to look for what works for you.

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  9. #4148
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    The trading strategy that we all will make use of and then have successful trading in the market is the one that we have really given time to and learned. Furthermore, we ought to know that the best trading strategy simply means that the strategy that we have spent a lot of time in learning and obtaining skills as well.

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  10. #4149
    Trader Rylai's Avatar
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    Quote Originally Posted by choaa View Post
    The trading strategy that we all will make use of and then have successful trading in the market is the one that we have really given time to and learned. Furthermore, we ought to know that the best trading strategy simply means that the strategy that we have spent a lot of time in learning and obtaining skills as well.
    Only if we're keep using it for the rest of our trading and learn along with better improvements. staying for the rest of our time to trade with one strategy will turn it works from good to better with us because we get more experience to trade with it and understand it more. stop looking for each strategies every time we lose to market because this is an endless habit that makes traders loses their way in this trading.

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  11. #4150
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    Quote Originally Posted by choaa View Post
    The trading strategy that we all will make use of and then have successful trading in the market is the one that we have really given time to and learned. Furthermore, we ought to know that the best trading strategy simply means that the strategy that we have spent a lot of time in learning and obtaining skills as well.
    We can get to be successful if we learn and get the needed experience to trade. The successful traders are few, and they are few due to the fact that they do know what to do in their trading, they are experts and do what they know cleverly. Such traders can not be much, many of the bad traders are the ones who are looking for many forex strategies how are the best too.

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