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

  1. #1
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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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  2. #1671
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    The thing we should understand when it comes to this trade is that we should always build up a profitable system that can give us a great chance to maintain more profits from this market. If we can follow the chance to learn about forex, we will have the means to earn from this market properly. A strategy is important and this of course brings about the opportunity for us to earn well. Profits is important and its likely our means to maintain the right trade.

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  3. #1672
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    First of all, you should be willing to learn, you should be able to know that success is a thing that takes time, so therefore, that will make you not to come in conclusion that your trading strategy is not working when you have only but made use of it for just about few months, but when you have accepted within you that forex trading is more like a marathon, then the better for you and then the more time you can give to yourself to succeed.

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  4. #1673
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    Quote Originally Posted by Darkhorse View Post
    First of all, you should be willing to learn, you should be able to know that success is a thing that takes time, so therefore, that will make you not to come in conclusion that your trading strategy is not working when you have only but made use of it for just about few months, but when you have accepted within you that forex trading is more like a marathon, then the better for you and then the more time you can give to yourself to succeed.
    Success takes times because we need the ability to know the behavior of the market and how we can exploit this price behaviors to make profits. The market study gives us the reasons to trade but some people try to make things easy by guessing, that they will only lead to losses. High accuracy trades usually come from strong experience in using certain chart setups on higher time frames.

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  5. #1674
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    A lot of traders have come up with so many fantastic trading systems that could not take them far in the forex market simply because many of them lack proper money and risk management. Proper money management will help any trader to trade more in this market if that is what we use to be the foundation of our trading strategy. This to me is the strongest ingredient to consider when looking for a good trading system for the forex market.

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  6. #1675
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    It is true when we keep trading for several years we come to know some good techniques and ways of trading. So this is how we build our experience and then can become successful, when we are new we should only think of learning and not of earning. For consistent earning we need a lot of things but first we need a strategy that can help us to decide what to trade.

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  7. #1676
    Trader cutiekc's Avatar
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    First thing is to make up your mind on the type of trading strategy that you would want to make use of. Then on the other hand. You should know that success takes a lot of time, you should be able to know that being a profitable trader is something that gets to happen to you if you have been prepared and also you have the focus and discipline.

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  8. #1677
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    Quote Originally Posted by cutiekc View Post
    First thing is to make up your mind on the type of trading strategy that you would want to make use of. Then on the other hand. You should know that success takes a lot of time, you should be able to know that being a profitable trader is something that gets to happen to you if you have been prepared and also you have the focus and discipline.
    We must choose a good and effective trading strategy in trading to get easy success on this business. If we will follow the market trend with good planning then we will be able to make huge pips earning on this business. We can make a strategy profitable with knowledge and experience which is best thing for us to get profit on forex market.

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  9. #1678
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    I think the practices are very important to get a simple strategy as very strong and very powerful. so, winning a successful trade isi possible if we have good trading skills and good time for attaining power to get success so winning profits is possible. if we are master in our working strategy and gain more chances to get success.

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  10. #1679
    Trader Goldenstein's Avatar
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    Quote Originally Posted by geddam View Post
    It is true when we keep trading for several years we come to know some good techniques and ways of trading. So this is how we build our experience and then can become successful, when we are new we should only think of learning and not of earning. For consistent earning we need a lot of things but first we need a strategy that can help us to decide what to trade.
    time will definitely answer what we need to know about market and to give us access to plenty of strategies after we have tested them in demo or real account. more time to spend in this business should be a good beginning of our career to understand everything manually by ourself without spending a cent to buy a strategy, hire a tutor, or pay some trading services. we can do this on our own as long as we want to invest our time in this business.

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  11. #1680
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    The only ingredients that will make our strategy very profitable is self control, we can have everything else but with the absence of self control, regardless of how profitable the strategy is, we are still going to lose money consistently, self control will automatically make you to stay relaxed because you know that the market is actually not running away anytime soon.

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