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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 Vicko View Post
    [lang=id]
    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]
    Yes with trading the process of learning should also be started and you need to have patience and determination to succeed. Well it is not a must you loss money when trading as a beginner but whenever loss occur during trading you must take it like that and that should not stop you from trading again.

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    Registered user cutiekc's Avatar
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    Well, to my best of knowledge I have got to know that the best trading strategy to make use of is the one that we have learned, because there will not just be a trading strategy that we can make use of, we would have to understand the market and then have made use of the trading strategy on the demo trading account to comprehend how it works and know it's flaws.

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    the best strategy to use is the trader can understand it and work well with it, the trader needs to have good and simple strategy that let him to know when to enter to trade and when t exit from the market, the trader neds to test many strategies and choose the best for him that he can use easily for trading and making of money with high percentage of success.

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    Quote Originally Posted by cutiekc View Post
    Well, to my best of knowledge I have got to know that the best trading strategy to make use of is the one that we have learned, because there will not just be a trading strategy that we can make use of, we would have to understand the market and then have made use of the trading strategy on the demo trading account to comprehend how it works and know it's flaws.
    Learning is really such important issue in earning and surviving in Forex market. Trading may make one lose his all investment and make his confidence level poor but making himself poor. A trader doesn't trade more while he is in loss but should learn to find his mistakes and improve his skills on trading. Still Forex is a place where anyone can earn money.

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    Quote Originally Posted by KUMARRAJ View Post
    Learning is really such important issue in earning and surviving in Forex market. Trading may make one lose his all investment and make his confidence level poor but making himself poor. A trader doesn't trade more while he is in loss but should learn to find his mistakes and improve his skills on trading. Still Forex is a place where anyone can earn money.
    Yes One must recognize this importance of learning from his first day of starting Forex trading. well, demo account are good for everyone, even experienced traders also. say you have trading experience of several years, but havent traded stocks yet. so, if you want to start trading stocks you should trade in demo first.

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    [lang=ar]I completely believe so, forex is the best thing ever to arise in conditions of making money whether it’s online or off, its open to all no substance you are in nature and mobile at the similar time.[/lang]

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    Registered user debian's Avatar
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    Quote Originally Posted by sameeh View Post
    the best strategy to use is the trader can understand it and work well with it, the trader needs to have good and simple strategy that let him to know when to enter to trade and when t exit from the market, the trader neds to test many strategies and choose the best for him that he can use easily for trading and making of money with high percentage of success.
    I strongly agree with this, it is important to know exactly the strategy used, I know a lot of trading strategies and I am sure all of that is certainly profitable, but not necessarily in practice get a profitable trading if we do not yet know fully and one more thing that should be in accordance with the styleof our trading and our character in the trade, so as to support the implementation of this strategy to get great results

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    debian CopyFX . Shows the rating :
    #3092418 Fix-Cent ratings || # 2704573 Pro-Standard ratings

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    Quote Originally Posted by debian View Post
    I strongly agree with this, it is important to know exactly the strategy used, I know a lot of trading strategies and I am sure all of that is certainly profitable, but not necessarily in practice get a profitable trading if we do not yet know fully and one more thing that should be in accordance with the styleof our trading and our character in the trade, so as to support the implementation of this strategy to get great results
    Traders always need to know the strategy that is being used but there are a lot of other important things they need to watch out while trading too. Traders with great ammount of knowledge will know about insider trading and they will wish to learn what are the insider traders think and trade with the same direction as it is. This is quite important to tell you the truth.

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    Quote Originally Posted by kanoop View Post
    Yes One must recognize this importance of learning from his first day of starting Forex trading. well, demo account are good for everyone, even experienced traders also. say you have trading experience of several years, but havent traded stocks yet. so, if you want to start trading stocks you should trade in demo first.
    You are very correct, the learning of the trader is very crucial, and the best side to trading is to make sure you are learning well. If the trader is also learning, they should make sure they are training well along with the learning, because they will need it so well. This is how they will combine the theoretical things with the real practices for success.

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    [lang=id]
    Quote Originally Posted by Sylvertee View Post
    You are very correct, the learning of the trader is very crucial, and the best side to trading is to make sure you are learning well. If the trader is also learning, they should make sure they are training well along with the learning, because they will need it so well. This is how they will combine the theoretical things with the real practices for success.
    I believe that learning certainly is very crucial but learning will only give you result if you are good in here. If you keep learning but you just can't make any good trading result then everything will be useless as well. This is why all traders need to learn by themselves to get even better and get a good result as well. Combining theoritical things in here will be hard without a doubt.[/lang]

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