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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. #3671
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    Find that best strategy for trading is major issue for everyone but it is very difficult for trader and only those trader develop it for trading which is taking a lot of good knowledge and experience about it well then he can make everyday best and successful profitable strategy for trading toward success on this business with capital profit.

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  3. #3672
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    Forex is not simple trading business for everyone you have needed to get a lot of experience and knowledge about all simple or strong best trading method then you can build it for trading and getting everyday good profit in it. Trend line and bollinger indicator is my best strategy for trading and always with these both way i have getting positive result.

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  4. #3673
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    Most successful trade strategies are based on candlestick pattern because these are best trading source for working and we can trust on it and will earn unlimited profits as well , trading strategies is useful for us because if we are working with them by practice and with good efforts so all will be beneficial and good for successful trade results.

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  5. #3674
    Trader Sixteen's Avatar
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    A good strategy is always so important and of a great value for us in this business. It's good to know how to manage this business and realize why we should come up with a winning trade often. If we can deal well to manage risk we will have the opportunity to make some good profits in this business. A strategy is needed and by building a working system there is unlimited profits to be made and we can sure enjoy more profits from this trade continuously.

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  6. #3675
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    In forex business we have a lot of strategies to one can choose the best of them.and learn them before use properly.successfully trader choosing the right one.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.

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  7. #3676
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    This is most occurring question every traders always ask the best strategy to use and i believe strongly that there not one strategy that can be the best to use when it comes to trading forex but the best strategy is derived from the depth of your understanding of it to meet your goals because what you glory as best strategy can be the worst strategy to another trader.

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  8. #3677
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    There is no best trading strategy that any one can possibly make use of. You just have to learn and make it your best, because the concept of trading works in such a way that what you could be making use of, might not be working for other traders. Therefore it is your work to get your self the best strategy.

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  9. #3678
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    The market is all about what we make of it. Therefore if we want to have and gain more success then we need to include more hard work. Best forex trading strategy if I am been asked can be made from the use of candle stick trading strategy, it is really simple and easier to understanding. In a nutshell, we are the one to go through the experience of having a best trading strategy, no one else will do that for us.

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  10. #3679
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    If you are going to get the best of trading system as a forex trader, then be ready to sharpen your knowledge of the market in a very great way and make sure that you are always in tune with all the moving factors of the forex trading market, giving ample of time to practising your demo from time to time. Then you will come up with a best trading system for yourself and that is all, but thinking that you can get the best of trading system from anywhere in the forex market to me is lie time wasting.

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  11. #3680
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    Quote Originally Posted by jassim View Post
    There is no best trading strategy that any one can possibly make use of. You just have to learn and make it your best, because the concept of trading works in such a way that what you could be making use of, might not be working for other traders. Therefore it is your work to get your self the best strategy.
    You said it all and that is one of the reasons why we have the demo account. When we have the demo account, then we can learn differently and know how the market works, a good trading strategy comes to life depending on how we have made use of it. Therefore when we are not paying attention to learning then we will not have the best trading strategy for our selves.

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