How to choose the strategy on forex? - Page 340
Page 340 of 340 FirstFirst ... 240290330336337338339340
Results 3,391 to 3,396 of 3396

Thread: How to choose the strategy on forex?

  1. #1
    Registered user
    Join Date
    Mar 2016
    Posts
    949
    Promo (¢)
    0
    Thumbs Up
    Received: 24
    Given: 11

    Red face How to choose the strategy on forex?

    Before I go into details on providing an answer to some of the questions newbies always ask and also needs to know, I want to first and foremost thank the administrative bodies of Robofox for this great opportunity given to us yo participate in this contest, infact you people are the best so far.
    With the little knowledge I have knowledge I have gotten so far in forex, I will like to elaborate on this particular question that alway disturb Every newbie hence forex is concern, and the question is "How to choose forex strategy". This have been the most questions that have been disturbing almost everybody especially the newbies. Thats why I have decided to explain alittle about it here.

    HOW TO CHOOSE FOREX STRATEGY
    The word strategy have different meaning to different people depending on the context of their definition. So far, I have undergone so many research on Strategy from different resource materials then I decided to go with this definition inother to explain myself very well on the topic at hand. The definition am using is the one that states "strategy is a systematic, formally documented process for deciding what is the handful of key decision that a trader must get right in order to thrive over the next month, year or years. Therefore, your strategy is that one thing that uniquely differentiate you from other traders. The way you go about your strategy determines how far ans how well you will go in this trade. Like I keep on emphasizing that the best strategy I have ever seen and come across so far is that strategy that you setup for/by yourself, while the worst strategy I have also seen and come across happens to be that particular strategy that you copied from someone else without you having the full knowledge of what that strategy is all about and how it functions.
    Now, the question is What are the things you need to know when choosing your strategy? . Permit me to say that the best strategy one can use to trade firstly comes from learning, because, is during the period or process of learning using either your demo account or anyother resource materials that you will be able to map out different strategies, and then you will then chose the best one among the others.
    For you to defective set up a good strategy, there are different tools/indicators you need to work with. The tools/indicators are your pinbars, moving average, the MACD, Trading Journal, calculator of volatility, calendar etc.
    Let's take a look at the indicators.
    Attachment 13916 Attachment 13917 Attachment 13918

    Atleast, I fully believe that once you have learned and master any of these tools or indicators, you will be able to trade effectively if and only if the below steps are strictly followed to set up your trading strategy.

    Here are the list of things you have to use in setting up a good and nice strategy.
    • » Plan how you will trade (that is, plan your trade)
      I definitely believe that for a strategy to work well and effectively, plans must be involved, because with a good plans you can make even what we see as a worst strategy to emerge as the best strategy so far. And for you to really plan your trade you should, Firstly choose the sweet and best currency pairs that you know too well. Secondly, you have to make some decisions on how long you want to last or stay in the trade. That is when I belive the use of time frame now come in place. Just select the best timeframe you which to use whether is the H1, H4, or others. It's all dependent on you to decide. Then, Thirdly, don't forget to place your target for the trade. That is, all you have to be thinking of are risk management and money management. There is this saying that goes like this "lose or risk small to gain big or great, that is to say that, you should trade only what you can afford to lose. Don't be greedy and emotional on your trade, because those two works are the things that can easily blow your account, but to overcome it you need to exercise some patience on your trade, very important.
      Let's take a look of the images of forex planners and risk takers.

      Attachment 13913 Attachment 13914

      Learn more about plans at http://forum.roboforex.com/threads/5...RADE-your-plan
    • » Follow the forex market (follow the market trend)
      It's very necessary and important to follow the movement of the market ot the trend. This is to say, you should follow the trend of the market and then trade the trend ( don't just jump into placing and order in forex without you first and foremost try to study the movement of the trend. And for you to really follow the flow of the market you need to be good at analysing the flow of the trade. Because been able to analyze the flow of the market trend, that is when you will be able to trade the trend effectively. I fully believe that the forex chart is one of the best tool/things one can use to analyze the flow of the trend effectively.
      Image of following your trend

      Attachment 13915
      To read more about the trend, visit http://forum.roboforex.com/threads/1...with-the-trend
    • »Always keep a Forex Trade Record, Daily orJournal
      Keeping of forex record, journal or daily is one of the good way to know how good or bad that your strategy is. And also going back to your previous records to learn will help you don that you wont think of repeating such a mistake again in your trading life.
      For you to keep an accurate and correct record of almost all your trades, you need to ...
      Firstly, know the exact date and time you place the order because having the knowledge of the date and time your orders are been placed will help you to know the exact time that best suit that particular currency pairs whether it need some adjustment or not. And with that you will be able to know the particular time that is really made for particular currency pairs.
      Secondly, you also need to knowledge the rate at which you placed your order; that is to say, knowing the rate of risk taken by you in each trade you ordered for, because with that you will be able to know what you are actually or really risking for a particular trade you placed an order on. For more information on how to control your risk visit "http://forum.roboforex.com/threads/9052-Loss-Control-Techniques" .
      Thirdly, Know what your profit and lose is. That is, don't trade what you cannot afford to lose; always trade what you can afford to lose. Here, Yeh application of stop lose and take profit is fully needed because with that you will be able to know the exact amount of money you are to lose and to gain in that particular trade. For more information revisits the above url stated before this paragraph.


    So there, having good strategy is the best thing very traders have to get so as to trade effectively.
    Goodluck my dear.

    Not allowed!

  2. #3391
    Registered user
    Join Date
    Feb 2019
    Posts
    175
    Promo (¢)
    3,125
    Thumbs Up
    Received: 1
    Given: 1
    We chose our trading strategy according to different basis like according to our capital according to our risk and learning so when all this clear it will be useful for good trade and effective for profit maximization our strategy must be the results of our observation about it and also we should make trade plan and apply them.

    Not allowed!

  3. #3392
    Registered user
    Join Date
    Apr 2018
    Posts
    3,173
    Promo (¢)
    1,320
    Thumbs Up
    Received: 29
    Given: 13
    There are so many ways to choose a trading strategy in this business and roboforex forum is one of the good place from where we can gather couple of good trading strategy for our business, and along with it we can test them in our demo trading account. Demo testing is also very crucial because it can give us more clarification of those strategies.

    Not allowed!

  4. #3393
    Registered user
    Join Date
    Apr 2018
    Posts
    920
    Promo (¢)
    3,293
    Thumbs Up
    Received: 4
    Given: 4
    There is every reason to develop a good working strategy which will give us the chance to plan on how to make a good trade especially when it comes to forex trading. A good strategy is something very important and needs practice to develop and make good trade. So choosing the right system for ourselves will need good patience and hard work too in order to understand what can work good for us.

    Not allowed!

  5. #3394
    Registered user
    Join Date
    Sep 2015
    Posts
    959
    Promo (¢)
    1,740
    Thumbs Up
    Received: 1
    Given: 1
    Quote Originally Posted by letsdo View Post
    I will must say a trader can choose a best trade strategy if they are learned the market properly so time is required for learning and after getting knowledge and good experience we can attain good selection of trade methods which is helpful in earning and also with good experience we can handle the trade properly.
    In Forex business so many strategies are available and every trader has freedom to choose any strategy.we have choose those strategy we have the enough knowledge about these strategy.we have required good trend skills about it good experience is good selection of trade methods with good experience we can make profit easily.

    Not allowed!

  6. #3395
    Registered user
    Join Date
    Sep 2014
    Posts
    176
    Promo (¢)
    2,825
    Thumbs Up
    Received: 0
    Given: 0
    Well thread of the trading there are so many way to select the best strategy of the trading , when we want to search some good strategy then use the best browser and search it . i like to use the best strategy in our trading . i think the best strategy is the use of long term strategy we can earn a lot of money from the long term strategy .

    Not allowed!

  7. #3396
    Low Cost
    Join Date
    May 2015
    Posts
    424
    Promo (¢)
    6,846
    Thumbs Up
    Received: 1
    Given: 0
    Quote Originally Posted by Rozi_Roti View Post
    Well thread of the trading there are so many way to select the best strategy of the trading , when we want to search some good strategy then use the best browser and search it . i like to use the best strategy in our trading . i think the best strategy is the use of long term strategy we can earn a lot of money from the long term strategy .
    Learning is the best and suitable for choosing the good and profitable strategy.Forex trading is not easy trader has to do hard work for getting success.Demo accounts are very helpful for trader for the purpose of knowledge and testing a strategy.So many strategies are available in forex trader should choose that strategy which help the trader in analyzing the trend.

    Not allowed!

Page 340 of 340 FirstFirst ... 240290330336337338339340

Tags for this Thread

Posting Permissions

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