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Thread: What is the Best Forex Strategy to Use?

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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. #3651
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    We know that any strategy will became the successful if it is the best one so making the strategy very accurate is our responsibility and a trader when work with follow the rules of the trading market and also work with patience and give previous time on one method to make it completely the superb and very effective for winning .

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    Asking for the best strategy to use is very wrong, you might go into a search for something that has perfection thereby enabling yourself to trade with the holy grail that is yet to be developed, unfortunately many traders are deceived, they think only about what they can earn from the forex market with a strategy that is flawless, the best strategy comes from our individual efforts, it is not in existence naturally.

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  4. #3653
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    Quote Originally Posted by ASS7890 View Post
    Learning is the most important thing for trader without learning no strategy would be good and profitable,therefore trader should spend his good time for learning and do more practice for getting good trading experience.There are so many strategies in Forex and every trader has freedom to choose any strategy and i think swing is one the best and profitable strategy for trading.
    Without taking good knowledge about to mentions these all strategy well are very important for trader then you can make everyday best and profitable strategy for trading. Trend line long term strategy and scalping short term way both are very effective and reliable way to generate everyday good profit or loss in it.

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  5. #3654
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    Quote Originally Posted by learner View Post
    We know that any strategy will became the successful if it is the best one so making the strategy very accurate is our responsibility and a trader when work with follow the rules of the trading market and also work with patience and give previous time on one method to make it completely the superb and very effective for winning .
    Which trader working on it with good planning and understanding he can everyday make best and reliable strategy for our trading business. Became patience and choose hardworking trading method are necessary for him after manage these all thing well trader should make everyday high profitable lower risky strategy for trading.

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  6. #3655
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    Trend line and scalping is my best and suitable experience way for trader but to make time good learning and understanding are very important for trader then you can make best and high profitable strategy for trading and increase good profit in it. I have use and prefer technical trading method to identify the market for getting everyday some pips good profit in it.

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  7. #3656
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    Every trading strategy is best and reliable for trader if he can make it with hardworking and patience trading method then he can getting good advantage from it higher and lower time frame period. Trend line and scalping both are my best and successful experience strategy for trading and always with these days my strategies rules are positive on market.

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    Quote Originally Posted by yimu View Post
    Trend line and scalping is my best and suitable experience way for trader but to make time good learning and understanding are very important for trader then you can make best and high profitable strategy for trading and increase good profit in it. I have use and prefer technical trading method to identify the market for getting everyday some pips good profit in it.
    Trendlines is good to trade trends and not to do scalping and we have to build the knowledge of using trendlines first. When we incrase our knowledge about Forex trading then we increase the quality of our ways of trading and managing things. There are no perfect strategies but there are perfect traders, who knows how to use their strategy with good management.

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    The best trading strategy to be used is the one that we have learned, there is the demo account where the learning could be done. A lot of traders don't understand the market. They just want to make fast money from the business. Hence being the reason why they get to loss a lot of money. Trading with the demo account made me learned and have my best trading strategy to be used.

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    The best strategy to use is one we developed by ourselves with the demo account and have proven them to be strong to help us make profits. Without the right system, we can easily loose our investment and we will have it hard in this business. We must know how to build a working system and realize that its something we must have a plan to work for. Learning from experience will lead us to success and this is what we should get ready for if we are going to as well come up with a profitable system.

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    Quote Originally Posted by Striker$ View Post
    The best trading strategy to be used is the one that we have learned, there is the demo account where the learning could be done. A lot of traders don't understand the market. They just want to make fast money from the business. Hence being the reason why they get to loss a lot of money. Trading with the demo account made me learned and have my best trading strategy to be used.
    so far nothing is better than the strategy we created and developed by ourself for so long. it is the only best strategy we have because we understand every errors and its deep characteristic how to implement every rules to market properly. in some rules we may found many similarities to other trading strategies but this is common thing to do because the most important thing is how traders are able to use their mindset and experience with their strategy while looking at how market moves in various patterns and volatility.

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