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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. #4171
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    A best trade strategy is made with the help of good trade skills so a best trade method is attained with the power of own struggles and down efforts so every trader should give time to a method and completely practiced on it to save form any harsh conditions of the market so with good practices and experience we can achieve success in this market.

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    Trader Sascha's Avatar
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    Quote Originally Posted by biru View Post
    A best trade strategy is made with the help of good trade skills so a best trade method is attained with the power of own struggles and down efforts so every trader should give time to a method and completely practiced on it to save form any harsh conditions of the market so with good practices and experience we can achieve success in this market.
    every strategies in the business has equal chance to bring us the best accuracy we need depending on how good we learn them and how much experiences we have during our applies with the strategies. skills won't come to us automatically without serious efforts so realize what we're doing is good or bad because we can see it with our trading results.

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  4. #4173
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    That experience will actually help trader to achieve success in this market , because when we are applying different strategies our understanding about the trade will improve and automatically we develop own successful plan , and leave which are harmful strategies for us we must have to develop own business with better strategies and with right system to trade .

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  5. #4174
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    Practicing good with the forex demo account will bring about good knowledge and experience that will very much help us to choose a better system from this trading. The right strategy is important and any trader following the right trade will possibly have all the ability to trade good for themselves. The use of a better strategy is important and its through working hard that we can have the possible means to make something out from this very market.

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  6. #4175
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    The best strategy depend on your experience and understanding about the market in as much as you have a good experience to study any strategy properly in the near future that strategy will happen to be the best strategy you can trade with, there are so many good strategy out there but the one strategy we have spend time to study and understand will be the best strategy we can trade with anytime.

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  7. #4176
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    In Forex so many good and profitable strategies are available and every trader has freedom to choose any strategy for trading therefore trader should spend his good time for learning then he would be able to realize that which strategy will work for him.Scalping is one the goo and strong strategy for trading and i make good capital by the use of scalping strategy.

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  8. #4177
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    In this market we have chose the best trade strategy only if we have practice enough and good trade plan , we all have to wait enough for trading safely in market ,only a good learning and observation about the market will help trader to chose the right strategy for work and our trade plan is going to be successful with it .

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  9. #4178
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    The best strategy to me is the one we find better of all the others and that we can take to live account. For this we have to take time and look at the profits and losses that we get out of using different kinds of strategies. Further all strategies will sometimes give false signals also. Traders also should always learn to use stop loss with every trade, if not done that, we may face a huge loss.

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  10. #4179
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    A best trade method could be that which is comfortable for taking the better earning ratios so we must make the better trade systems with putting own attentions on the trade systems to make them very wise in functioning and through the well experience and lot of potential to work rightly all matters to get success by making the better strategies .

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  11. #4180
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by silentsaumya View Post
    The best strategy to me is the one we find better of all the others and that we can take to live account. For this we have to take time and look at the profits and losses that we get out of using different kinds of strategies. Further all strategies will sometimes give false signals also. Traders also should always learn to use stop loss with every trade, if not done that, we may face a huge loss.
    Took us long time to find and create our own strategy that gives us best understanding about market. Everything with our strategies also suitable with our characteristics as traders who wants to trade this with short or long term style. Does not matter about what others thinking about our strategy because we do what we can and follow what can give us excellent analysis. Our strategy is the best solution we must have earlier with learning.

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