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  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. #21
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    the benefit of having our own strategy give us power to face the loss and to know the reason of the loss and remove it from our strategy .there are many trader copy from other the analysis and the strategy but they dont understand any thing and if it fail with them they leave it and use another one but they didn't understand that strategy very strong and give high profit

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  3. #22
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    Quote Originally Posted by king22 View Post
    the benefit of having our own strategy give us power to face the loss and to know the reason of the loss and remove it from our strategy .there are many trader copy from other the analysis and the strategy but they dont understand any thing and if it fail with them they leave it and use another one but they didn't understand that strategy very strong and give high profit
    I believe that having our own trading strategy is very much good already. Because making a trading strategy won't be easy at all and surely that a trader will need to gather up the needed knowledge first and the experience in trying the strategy at the first time.

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  4. #23
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    Quote Originally Posted by sekiryutei View Post
    I believe that having our own trading strategy is very much good already. Because making a trading strategy won't be easy at all and surely that a trader will need to gather up the needed knowledge first and the experience in trying the strategy at the first time.
    Developing our own trading strategy will allow us to consider our risk capacity and profit expectations. However to develop a trading strategy one needs to have good knowledge about the technical and fundamental analysis. The profitability of our trading strategy depends upon our own knowledge and skills.

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  5. #24
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    If a trader has good experience of trading then i think a trader must have there own strategy for trading because your own knowlegde and experience counts the more and if you are beginner than you can use strategies from other traders and learn from it,.,

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  6. #25
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    Very nice combination. I got already few more discussion as like that. I think it is more helpful for us. We can easily strategy from that. If we intend to learn more and earn more then it more important no doubt.

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    a very good strategy. with analysis like that I think it would be easy to determine the shape of the pattern which is too confusing market. but it can also be a signal of a candle to take the position of order

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  8. #27
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    Yes dear. It is really so important thing to have profitable trading strategy of own, I thing without having at least one good trading strategy any trader should not invest real money in this risky and unpredictable market.

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  9. #28
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    We should first make some good profitable trading strategy in forex business by working on demo account..demo account will help us in good way to make good trading strategy and when we have such profitable strategy then we should invest in our real account so that we can collect some good profit from forex business..

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  10. #29
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    Quote Originally Posted by mark48 View Post
    We should first make some good profitable trading strategy in forex business by working on demo account..demo account will help us in good way to make good trading strategy and when we have such profitable strategy then we should invest in our real account so that we can collect some good profit from forex business..
    Basically I agree with you, we need to create a profitable strategy in a demo account before we use a real account. But if we already have a good strategy in a demo account, we should do the test in a real account with a small deposit, do not immediately depositing huge amounts of money, because you know that trading in a demo account is different from trading in real account psychologically.

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  11. #30
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    I am agree with your point sir we should have our own strategy and we should not depend upon other signals or other person because we should have confidence in our self in this market it will help us to become a very good trader in the market and we will able to learn many things here

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