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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.

  2. #501
    Trader Senorita's Avatar
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    The strategy that have shown good positive profitable signs can be further developed to be depended fully on. This is why we have to take our practicals seriously with the demo account because we can find out to know what could work better for us as we intend to enjoy a profitable business that we need in forex. A good strategy is important to have and we must work for one and be hopeful that we can earn so good and enjoy lots of profitable opportunities in forex.

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  3. #502
    Trader Lyon's Avatar
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    All trading strategies are best, you get to make money with the concept you have learned so what it means is that, we as a trader are the ones owing our selves if we make money or not, now, what has to be done is that the learning has to be done on a very serious note, money can be made from forex but the trader will determine on that through hard working.

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  4. #503
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    Quote Originally Posted by Lyon View Post
    Forex trading is a good business, you just have to earn, build the right trading strategy, trading is a risky business, you will only loss your money if you have not mastered your trading strategy. Best concept could even be the one making you loss now, so you just need to learn the rules you are not applying to the way you trade.
    Forex trading is good for the money it can give to traders, but it is not always very good for traders. The trading of the market is so hard for traders too, it is only few that knows it well and are trying to get money through the things they know. I think we have to develop the loss protecting systems for us to be safe in the market and enjoy it.

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  5. #504
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    To me it should be the candle stick pattern, because it is the best and most used and because of how good and profitable it is that is the main reason why it is been used by most traders. I will also say that any strategy can be the best, all depends on how good we have learned to use them, how seriously patient we have been in learning them.

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  6. #505
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    Quote Originally Posted by Lyon View Post
    All trading strategies are best, you get to make money with the concept you have learned so what it means is that, we as a trader are the ones owing our selves if we make money or not, now, what has to be done is that the learning has to be done on a very serious note, money can be made from forex but the trader will determine on that through hard working.
    There is no how all trading strategies can be the best, the trader will only try to train many of the strategies in the market to know the ones that can work better for them. And as a matter of fact, there are poor and bad indicators/strategies in the market, not all of them are good, that is why practicing in the market is so crucial before trading.

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  7. #506
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    Quote Originally Posted by RaptFX View Post
    To me it should be the candle stick pattern, because it is the best and most used and because of how good and profitable it is that is the main reason why it is been used by most traders. I will also say that any strategy can be the best, all depends on how good we have learned to use them, how seriously patient we have been in learning them.
    Other traders may say it will be the use of support and resistance, to that I have learned we don't have any specific best trading strategy and method of making money. But we built it with the help of trading experience, knowing and good skills. So, want to have the best strategy? Demo trade your way to success.

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  8. #507
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    if i tell you about my best strategy then use long term strategy, for checking market analysis use some moving average with 3 lines that is best for you and make sure you use them on some big time frame and one line must be some big period that will be slow and give you best support and resistant for long term

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  9. #508
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    Quote Originally Posted by ajagbeolegba View Post
    Forex trading is good for the money it can give to traders, but it is not always very good for traders. The trading of the market is so hard for traders too, it is only few that knows it well and are trying to get money through the things they know. I think we have to develop the loss protecting systems for us to be safe in the market and enjoy it.
    If traders can learn and then have it done the right way, I am sure the money they can make from it will be on the increase, the reason why we see that people are losing their money in forex trading is because they have not learned. The best concept to be used can't be made out of the blues because it will take time and consistent learning.

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  10. #509
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    Quote Originally Posted by naeem555 View Post
    if i tell you about my best strategy then use long term strategy, for checking market analysis use some moving average with 3 lines that is best for you and make sure you use them on some big time frame and one line must be some big period that will be slow and give you best support and resistant for long term
    I can not tell traders categorically that a best trading strategy exist, because it will simply be a lie, there is no best strategy, pattern or approach in the market, it is the trader that will train well, plan and act wisely when they trade. This is just the same reason why traders with the same system do not have the same results, it depends on how they could use what they have.

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  11. #510
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    Quote Originally Posted by Lyon View Post
    If traders can learn and then have it done the right way, I am sure the money they can make from it will be on the increase, the reason why we see that people are losing their money in forex trading is because they have not learned. The best concept to be used can't be made out of the blues because it will take time and consistent learning.
    The market is always there for us to trade, but the way we trade it will determine what we will get from the market, this means the earning of traders have to vary at all time. And for the traders that are losing, they need to learn more or change their trading approach, because consistent losing is a huge problem for any trader.

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