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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. #4061
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    Personally, i do not believe that there is anything called best trading strategy, but what determines the level of the results we are able to gain over time when it comes to trading systems is the knowledge and experience of the trading method w have been able to master and learn over time. If you desires to develop a best trading system then you must be willing to invest enough time into learning how the forex market work with your skills and knowledge then you can become the best forex trader.

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  3. #4062
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    The best thing a trader can do is to look for a good trading method that he or she can actually use to make a lot of profits from the market and not the best trading method because it does not actually exist,what we need in this market is a trading system that can give us profits on a consistent basis.

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  4. #4063
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    There are a lot of good strategies to trade with but there is no general best strategy to trade with, there are a lot of strategies so you choose your most preferred one to trade and no one else can decide this for you, you have to decide it yourself, the best depend on your experience and knowledge toward the market, because it's the strategy that you study to trade with that will work best for you.

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  5. #4064
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    I always like to use what is best, but what is best is what we will have to make sure that we work for. And mind you, what is best for us might not be what will be best for other traders, we should disregard that, we should only be focused on what is working for us, that is the best thing out here. Trading the market gets better with our regular training, that makes our success to be faster.

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  6. #4065
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    Practice is the first and the most important of all, because if we can get to practice then we will surely know the key to using a good strategy correctly. On the other hand, trading strategies gets to be best and better with time we have spent on the market learning and understanding them. That is also the way I have been able to master how I trade my self as well.

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  7. #4066
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    A successful trade is come from the successful trade strategies so we have to make the best methods that provide us the way for earning the success more possibly and taking success very perfectly so we should give value to one strategy and spend time with doing practices a lot that is the way for earning success more accurately and wins money safely from it .

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  8. #4067
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    There is no best trading strategy that just get to be best from nowhere, I think the best will always come from the learning the trader has done, and if the trader hasn't done any learning then it will be hard for them, for instance, the best trading strategy from my basic learning experience, should be the strategy that focused on the long term trading time frame as time frame matters so much.

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  9. #4068
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    Every strategy traders are using to trade in the Forex market are good and profitable. It is the effort of trader to practice well with a particular strategy that would make such a strategy to work well and even to make it to be the best one to be using profitably in trading.this depends on the approach of trader to any strategy.

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  10. #4069
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    A best working method is always obtain from the best of knowledge and good learning skills because if we have a better trade plan and good trade system then to make earning successfully will be an easy process for self so we must make the best strategy or a trade system that could be helpful for taking benefits from this market .

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  11. #4070
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    Learning how to build the right strategy is always for our own good and us in this market we must do well to maintain a good system and seek on how we can achieve unlimited success in our trading. The right strategy is indeed important and we should master up the right system and see we can have the access to earn. The right system gives us the best opportunity to trade good and maintain a better target about this business.

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