How to make a profitable strategy (4 ingredients)
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    How to make a profitable strategy (4 ingredients)

    A strategy that works well for you does not automatically means it will work for other traders. It is because strategy is just a tip of the iceberg.

    There are mainly 4 ingredients:

    1. A statistical edge (trading strategy)
    2. Risk-reward management (Profit taking and proper stop loss placement)
    3. Psychology - everyone has different psychological make-up and level of fear, or emotional response when it comes to risk taking, losing and winning.
    4. DISCIPLINE - not everyone is disciplined. In fact, without discipline, no strategy works at all. A disciplined person does well not only in trading but in all fields like sports, business or sales, among others.

    Everybody is talking about strategy but very less are talking about discipline, psychology and risk management.

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    You are absolutely right mostly traders re not focus on psychology, discipline and risk management which is really important for every trader to use in their trading. we must need to know that traders success is not possible until they are make their trading plan with proper planning and follow the all rules which are help us to earn money and protect our trading account from big losses.

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    Yes, you are right, if we can follow that four rules then we can become successful trader definitely. But most of the trader can not keep patience and they will blow way their money. The main main factor is the discipline i forex market, the more you will disciple the more you will get profit.

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    yes we need of these things actually if we have perfect strategy it contains 2 things: first of our best analysis and it should be confirm first on demo account because without practicing we cannot do good, so second thing comes our management like how much risk we can afford per order, how much loss and profit can be max, so these both things make our strategy best and i think enough for trading

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    Its true that traders learning and their experience is help them to get success on forex and if traders are follow this market with good planning and follow the market trading rules they can make good profit but no one focus on these things. Every trader is want to make bug profit without follow any discipline and risk management.

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    You know I will say that the discipline aspect and psychology should come first in any thing that we are doing, because when there is that discipline then the trader can actually get to place the trade in such a successful way and then also learn good tool but a trader that lacks the discipline will also have hard time in learning what has to be learned to help successful trading.

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    From all what is written here, discipline stands out as the most important ingredients that can make a trader gain success, you won't understand how to be profitable except you have placed a great priority in being disciplined. Having an edge in this business comes from how disciplined you have trained yourself over time, the root of all successful trading is based on discipline.

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    The major thing I saw in this ingredients is risk management and discipline this is because this two factor is in order then the trading strategy can be very profitable but I will still ask that the strategy be practice in a demo account.

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    In forex traders learning is so much important for them and if traders are focus on their learning and use their experience they can make easily every day profit on this business. We must focus on learning because without learning its not possible to make profit on forex business and if we are use a profitable trading strategy and follow it with good risk management and discipline then its easy for us to make huge profit from this business.

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    Quote Originally Posted by clifton View Post
    1. A statistical edge (trading strategy)
    2. Risk-reward management (Profit taking and proper stop loss placement)
    3. Psychology - everyone has different psychological make-up and level of fear, or emotional response when it comes to risk taking, losing and winning.
    4. DISCIPLINE - not everyone is disciplined. In fact, without discipline, no strategy works at all. A disciplined person does well not only in trading but in all fields like sports, business or sales, among others.
    These all are essential to make our trade better and minimum risky if we are following a good pattern in trade so that will give good ideas for trading and we face minimum risk also so for trader it is most important we chose our trading strategies and the best way to execute it in this way it will be beneficial .

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