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Thread: The importance of having YOUR OWN strategy

  1. #1
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    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:

    Attachment 740


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

    Attachment 741


    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.

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    Last edited by Value trader; 12-03-2013 at 12:24 PM.

  2. #201
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    There is nothing better in forex market than the traders doinbg trading in a way that makes more sense to them. You will get success in this way than saying that you want to rely on a trader for a very long duration of time. I have seen may traders begging other traders for trading directions, is this a trader or participant? This is not cool.

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  3. #202
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    i used short term or scalping for trading and never change it from the beginning, well, it is very important for us to get something simple and suitable, then we know how to use it for trading, and i used all time frames to get more information about the market situation and also change or replace stop loss with hedging, i set pending order to replace stop loss as hedging, and it gave me more chances to fix my problem and even convert it to profit, with take the same risk when i set stop loss, hedging is better

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  4. #203
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    It's very important that any individual who intends to invst in the currency market should ensure that he or she first work building his or her trading strategy before investing on live account,and thanks to our resourceful site such as our forum we can be rest assured that learning tools are at a click of a botten.

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  5. #204
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    to produce a strategy we could combine a few who have been there a good strategy of some seniors and some existing techniques have, with me so we could well face some conditions, of course, with the result that will be good too,because the results of the complementary combination.

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  6. #205
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    how can we know that we should change our strategy or should we stick on the old strategy because the condition is not match with the strategy ? it is always confusing moment between changing the strategy or stick on the old plan. we do not know what is the best strategy in which situation

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  7. #206
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    Strategy changing is not what you can take lightly, if you do, you will be doing yourself more harm than good. You can test your strategy for over 6 months before you will leave it or take it as your trading instruments, this is why many traders does not look the definitive way of trading, they do not focus too before using theirs or leaving it.

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  8. #207
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    Quote Originally Posted by cozard007 View Post
    Strategy changing is not what you can take lightly, if you do, you will be doing yourself more harm than good. You can test your strategy for over 6 months before you will leave it or take it as your trading instruments, this is why many traders does not look the definitive way of trading, they do not focus too before using theirs or leaving it.
    All strategies should we more often we practice both demonstration and real account so that we know the point where the advantages and disadvantages of our technique itself and also pay attention to our finances so that we can get maximum results and minimize its losses we necessarily

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  9. #208
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    Quote Originally Posted by ngalapreceh View Post
    how can we know that we should change our strategy or should we stick on the old strategy because the condition is not match with the strategy ? it is always confusing moment between changing the strategy or stick on the old plan. we do not know what is the best strategy in which situation
    When we can improve the trading strategy become a better trading strategy, such as add a filter to the trading strategy, then we can stick on the old strategy, but if we can't improve it, such as the risk is higher than the reward, and the winning rate too low, i think we must change the trading strategy and get a better one

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  10. #209
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    Quote Originally Posted by xoxon View Post
    to produce a strategy we could combine a few who have been there a good strategy of some seniors and some existing techniques have, with me so we could well face some conditions, of course, with the result that will be good too,because the results of the complementary combination.
    Making a forex trading system is not easy for us . It takes much time and years of practice and hard work. I have my own trading system which it takes 2 years to accomplish. It is based on candlestick patterns and gives me much money. Our own strategy will gives us more money as compared to following other systems.

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  11. #210
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    there are no any trading strategy which give you 100% profit in forex business and you can not making same profit than who create this strategy that you are following strategy. and i think we are all forex traders like colleague so we should share every thins an other. For making or learn strategy we should not follow others or buy strategy.if you can try more and more for create good strategy you will be success to make good strategy just you need to practice demo for create strategy.

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