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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. #41
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    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.
    When we are good learners first then we can be good traders and achieve all the benefits of this trading. . 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 for those traders who don't work hard there are losses.

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  3. #42
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    From my experience with the market, there is no single well working trading strategy, therefore we need to learn and understand that learning is the best way to have a very good working trading strategy. Therefore the more we learn the more we will be able to understand on how the business works.

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  4. #43
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    [lang=id]
    Quote Originally Posted by cutiekc View Post
    From my experience with the market, there is no single well working trading strategy, therefore we need to learn and understand that learning is the best way to have a very good working trading strategy. Therefore the more we learn the more we will be able to understand on how the business works.
    I believe that experience in this business is indeed very important and traders need to work well with every possible strategy in the market too. In order to learn and understand the amrket further, we will always need a lot of better way to work with our own strategy first and understand better how we can earn from here. Understanding this business is hard i believe for new traders.[/lang]

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  5. #44
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    Quote Originally Posted by Vicko View Post
    I believe that experience in this business is indeed very important and traders need to work well with every possible strategy in the market too. In order to learn and understand the amrket further, we will always need a lot of better way to work with our own strategy first and understand better how we can earn from here. Understanding this business is hard i believe for new traders.
    I think as for that will depend on the knowledge we possess first. There are certainly a few strategy we can use if we have a lot of experience but if we did not possess the experience then we willnot have even one trading strategy. Under that kind of condition, we will need to know what others do and how they can come to that conclusion.

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  6. #45
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    Quote Originally Posted by Nasir Lakhany View Post
    I think as for that will depend on the knowledge we possess first. There are certainly a few strategy we can use if we have a lot of experience but if we did not possess the experience then we willnot have even one trading strategy. Under that kind of condition, we will need to know what others do and how they can come to that conclusion.
    That is correct, everything in here will depend on what kind of knowledge you possess first and then how much knowledge you believe to be true. Sometimes there are some knowledge that might bring ruin to you as well and as a trader you need to be able to choose them closely and carefully. It is because trading themselves is not an easy thing after all.

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  7. #46
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    the best strategy is to supply and demand as the goal of weakening stop lose three times and add them candles Albris Action shake a great way to trade that I learned do not need something else from the strategies and practice remains very important to know Alastrtejah gaps and work to fix it

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  8. #47
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    Quote Originally Posted by forx2015 View Post
    the best strategy is to supply and demand as the goal of weakening stop lose three times and add them candles Albris Action shake a great way to trade that I learned do not need something else from the strategies and practice remains very important to know Alastrtejah gaps and work to fix it
    If you want to check the real supply demand then you need to check the COT or what we call them commitment of traders. At there yu can check how many traders are long and short the position and you can check the contracts as well. usually they will be released at the end of the week but even if i'm saying this i believe you won't check it.

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  9. #48
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    The best strategy trade with trend, you must detect if the trend uptrend or downtrend or sidetrend. And do not forget using the moving average, and fibo.

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  10. #49
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    Quote Originally Posted by zerouali5000 View Post
    The best strategy trade with trend, you must detect if the trend uptrend or downtrend or sidetrend. And do not forget using the moving average, and fibo.
    that is the basic for all strategies, we need to understand this parts with very well, how to follow the trend, and know to get the right timing to enter and exit, then this is about support resistance too, and at this side, traders need to master these basic with very well with use their knowledge and skill to implement it

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  11. #50
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    Quote Originally Posted by newcomer View Post
    that is the basic for all strategies, we need to understand this parts with very well, how to follow the trend, and know to get the right timing to enter and exit, then this is about support resistance too, and at this side, traders need to master these basic with very well with use their knowledge and skill to implement it
    Follow the trend alone will not be the way we need to use in order to success as well. We need to make sure there are a lot of other things we need to watch out while making decisions in trading too. Surely support and resistance will be important and play a part as well but we should use other skill in here just like timing management as well.

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