The importance of having YOUR OWN strategy
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Thread: The importance of having YOUR OWN strategy

  1. #1

    The importance of having YOUR OWN strategy

    What do I mean by that?

    Of course, you can take one of gazillion strategies, offered by the internet, but still there are a lot of variables in trading that should be taken into consideration.

    First, what is a strategy?

    This is a combination of trading system (discretionary or mechanical), capital management and position micro-management (should you hold your winners, when to filter your trades, when to add to your position or to cover some of the risk)

    I guess, the last one is one of the most important things (position micro-management).

    You can have absolutely wrong directional bias, but still make money.

    There are coulple of examples:

    I trade with short-term strategy and spot very small imbalances. My friend is a swing trader, and we have different perspectives on the market.

    I bought twice, covered quickly and made some money:

    example 1.jpg

    ...while my friend at the same time went short and made money on his trade too:


    This example shows relative importance of position management comparing to directional bias.

    Peter Brandt, one of the most successfull world traders says: "I may think I know, but in reality I don't know".

    To manage your position properly, you should know your trading niche.

    Are you a swing trader? Are you short-term momentum trader? Are you a position trader?

    Your trading niche must be selected considering your ability to manage your trades (you should have enough free time to follow markets or have psychological ability to trade short-term or to have guts to hold your winners e t.c.) Know more about it here

    Make some research and explore - what you can do on the marketplace. That will be the most rewarding experience in your trading.
    Last edited by Value trader; 12-03-2013 at 12:24 PM.

  2. #2
    Very good information, i have a strategy which belongs to long term trading in this strategy i wait for 2 or 3 days but get good results and now i will try short term strategy that you mentioned above and post result here soon.

  3. #3
    I think the good informative post and i think the strategy is key of success in the trading and i think if you have the good strategy and plan in the trading and then you will show the discipline in the trading and i think if you have work with the discipline then you will get the success in the trading.

  4. #4
    This information is very important and very useful for me, I relied on strategies that rely on subsidies and resistors points everyday and I see they make quite a lot of profit, and I hope that works a lot of members to achieve big profits

  5. #5
    Trader dkarev's Avatar
    Join Date
    Aug 2013
    yeah,it very important we have a trading strategy,though the trading strategy might be modification of a strategy but safe when we are able to protect our money with the best trading strategy we feel is safe for us to make money and it always safe because we will understand our entry and exit point with having to worry

  6. #6
    Registered user mohamed reda's Avatar
    Join Date
    Aug 2013
    i agree with you you must work with a trading strategy to know when and where you must open an order .also i think you must develop your own strategy because this market is a dynamic market that mean your strategy may not work for some times so you must develop your strategy and you must develop your own skills .

  7. #7
    Registered user
    Join Date
    Aug 2013
    Every trader should have own strategy to trade in forex market.because you can get profit but you do not able to learn .you can trade by other signal but you have to leanr well if you want to success in this and resistance is then basic and easy strategy for a new trader.a newbie should learn well then should trade in real account.

  8. #8
    Join Date
    Aug 2013
    i have 3 months of expeirence, and i am not that much good in this business to make and use my own strategy because this requires knowledge and skills and experience. but yes, if you have your own strategy than surely you would be earning a lot.

  9. #9
    I consider I am still beginner in the forex market and do not know to do my job strategy myself and it is best that we are relying on the strategy of one of professional traders and can we Edited by only put points when entering different and targets in different places, but the foundation is strategic located at the professional traders

  10. #10
    Registered user
    Join Date
    Mar 2013
    Forming our own trading strategies will allow us to consider our own risk capacity and profits expectations. When we formulate our trading strategy we are relying on our own skills and knowledge. After all its better to rely on on our own knowledge and skills than to rely on other's predictions.

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