What is the Best Forex Strategy to Use? - Page 403
Page 403 of 419 FirstFirst ... 303353393399400401402403404405406407413 ... LastLast
Results 4,021 to 4,030 of 4186

Thread: What is the Best Forex Strategy to Use?

  1. #1
    Trader
    Join Date
    Feb 2014
    Posts
    9
    Thumbs Up
    Received: 3
    Given: 0

    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.

    Not allowed!
    Last edited by tj1nino; 05-16-2016 at 04:56 PM.

  2. #4021
    Trader
    Join Date
    Mar 2019
    Posts
    730
    Thumbs Up
    Received: 0
    Given: 1
    A forex strategy is that which we will follow in trading and its help us to earn daily money. If traders are use a good and powerful trading strategy like the moving average then they will know this market trend easily and after to know the trend you must need to follow it with its strategy and then you will earn profit from your all trades easily.

    Not allowed!

  3. #4022
    Trader Senorita's Avatar
    Join Date
    Jun 2016
    Location
    Africa
    Posts
    7,494
    Thumbs Up
    Received: 119
    Given: 73
    The right strategy will likely increase our chances here to build a profitable trading that would help see we maintain profits. The right strategy here is helpful and we must consider to manage our risk and do see we build a profitable earning in the best time. With the right strategy we would be able to handle loss and improve our chances towards which we can always get on to earn in this very market opportunity.

    Not allowed!

  4. #4023
    Trader
    Join Date
    Aug 2015
    Posts
    12,806
    Thumbs Up
    Received: 122
    Given: 24
    Quote Originally Posted by Risk management View Post
    For making a good and profitable strategyi trader must have good knowledge and trading experience then he would be able earn good capital.Forex trading is not easy and simple trader has to do hard work for getting survive.There are so many strategies avoid to use the short term strategies because trading with short term is very risky.
    yes this is normal and simple and every trader must should have no doubt but with some hard work with some patience and with some good skills we can do better here, any good strategy can fail if we do not have proper factors following because here we can survive if we have patience, if we have good management, if we do not have greed so with strategy there are some more factors are also needed

    Not allowed!

  5. #4024
    Trader
    Join Date
    Nov 2017
    Posts
    5,282
    Thumbs Up
    Received: 34
    Given: 86
    There is no best trading strategy, it is just the one that you have learned and built for your self, that is what which will be known as best, if you have not learned and built the trading strategy for your self and stick to using it for like six months, then know that, you will not get to have the best use of it, use the demo account first as a way to start.

    Not allowed!

  6. #4025
    Trader
    Join Date
    May 2018
    Posts
    2,062
    Thumbs Up
    Received: 6
    Given: 1
    It is appropriate that the traders should be focused on knowing what works for them. There is no way a trader be able to have a good trading strategy and the best one when they have not practiced and go though the experience so as to know what really they want from the market. There is no general best one, as a trader, you need to follow the path that suits you.

    Not allowed!

  7. #4026
    Trader
    Join Date
    Mar 2019
    Posts
    711
    Thumbs Up
    Received: 0
    Given: 2
    There are several strategies available for traders in the Forex market to trade with, but in order to have the best use of any of them the trader need to practice in the demo account with such strategy to have the knowledge of applying them and making it to work successful therefore the best strategy comes out of unrelenting effort of traders in practicing.

    Not allowed!

  8. #4027
    Trader
    Join Date
    Oct 2018
    Posts
    2,376
    Thumbs Up
    Received: 10
    Given: 7
    Quote Originally Posted by naeem555 View Post
    yes this is normal and simple and every trader must should have no doubt but with some hard work with some patience and with some good skills we can do better here, any good strategy can fail if we do not have proper factors following because here we can survive if we have patience, if we have good management, if we do not have greed so with strategy there are some more factors are also needed
    if everybody know then why we are losing? before some months i thought i go with small lot and it will give me profit but i am losing, my order is in loss from a lot of days so this is not right way, we should keep in mind market can move at any side just our right orders can give us profit and for them we need to work on demo to learn how to place orders and which type of order and strategy can work for us

    Not allowed!

  9. #4028
    Trader
    Join Date
    Oct 2018
    Posts
    637
    Thumbs Up
    Received: 4
    Given: 3
    Looking for the best strategy will make it very difficult for a trader to come up with one. Here you have to practice on your own to realize what system have a high chance of giving you success in this market. The right practice with the demo account is very helpful and would surely help us understand what we should be doing at the right point while we work towards seeing that the right kind of trade is made.

    Not allowed!

  10. #4029
    Trader
    Join Date
    Jul 2017
    Posts
    4,292
    Thumbs Up
    Received: 17
    Given: 1
    The best strategy from my personal experience isn't something that people recommend or what you found in the Internet, the best strategy is that one which you practice for a long time and understand the strength and weaknesses, this takes a long time to develop because several testing has to be done before we can reach the final conclusion.

    Not allowed!

  11. #4030
    Trader
    Join Date
    Oct 2018
    Posts
    468
    Thumbs Up
    Received: 2
    Given: 1
    Building our very best system will be important and sure gives us the chance to work towards making the best profits from this market. There are lots of trading system every trader can choose for themselves but with practice they can select the better system that gets to increase their chances of making good profits. A good system can well give us better profits and working hard will therefore help us build the best trading that will keep us earning well.

    Not allowed!

Page 403 of 419 FirstFirst ... 303353393399400401402403404405406407413 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •