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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. #391
    Trader lawners1791's Avatar
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    working with the good strategy that is the use with the good customs to manage. to let flow with the daily casuals with the presettled number of the minimum request to complete with the work to occupy the use with the distinct system with the analytics of the good return with the past work of evaluation. to win little by little to compound higher with the longer periode terms.

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  3. #392
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    As you said it is true that one should have his own strategy. Every one has a different psyche and different level of temperament. Hence what one follows may not work for the other. I usually trade time frames of 4 hour and above and few of my colleagues say 4 hour is a long time chart and they can trade any chart above 5 Min TF. it is their level of patience and I say do what works for you.

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  4. #393
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    Quote Originally Posted by lawners1791 View Post
    working with the good strategy that is the use with the good customs to manage. to let flow with the daily casuals with the presettled number of the minimum request to complete with the work to occupy the use with the distinct system with the analytics of the good return with the past work of evaluation. to win little by little to compound higher with the longer periode terms.
    Good or bad strategy is depending on every trader who used the strategy because same strategy will give different result if it's used by different trader in different timing. Using our own strategy or other trader's strategy is not big deal because the most important is using proper strategy in current condition. To know the right strategy, it's depending on capability to make good analysis and knowing condition of market currently.

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  5. #394
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    working with good strategy that is to prototyping with best manners to manage. for flowing daily with the casual settled minimum number application to complete the job to take use with the system with distinct the analyzes of good efficiency from the past working of the evaluation. to earn little by little composing with the higher the terms of the period more.

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  6. #395
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    The most important thing is any strategy existed in Forex that there will be capital management is excellent in strategy without capital management there will be no successful strategy regardless of traffickers few who trade without the use of capital management understanding of the experts in this field, but the speech addressed to the novice in the field.

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  7. #396
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    Quote Originally Posted by hema_fathy View Post
    The most important thing is any strategy existed in Forex that there will be capital management is excellent in strategy without capital management there will be no successful strategy regardless of traffickers few who trade without the use of capital management understanding of the experts in this field, but the speech addressed to the novice in the field.
    I strongly agree with you that in this trade would indeed be very important for traders to trade what they have not just rely on how to get a good trade in my analysis, but as traders we must strive in this trade for the trade that will get better on money management for money management is a part of the way we organize our management of risk in the trade and this would be very good if executed with discipline

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  8. #397
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    yes i have my important strategies in the forexe business first of all i want to arranage the capital management and the other thing is very important it i called the micro management so we keep th both straegies vry strong they are both is very importaant for the forexe market business if any person entered the market for th trading he keep the concept in his mind

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  9. #398
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    That range is very precious and useful me Pro I have relied on strategies targeting rely on subsidies and resistors points of everyday and I think more they obtain to an entire ration of profit and hopefully with the intent of installation a ration of members achieve high profits.

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  10. #399
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    As a result of trader's own strategy, development will surely come. It is a means of absolute independent of any trader, and it qualifies you of what trader you really are. Doing what you know makes you enjoy your field better and never fall victim cheaply. In this, you may choose to advance than other by hard work.

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  11. #400
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    Quote Originally Posted by AlwaysZoz View Post
    good topic. this information is very important for any trader in forex market . and i agree with you .i am still beginner in the forex market and i like Short-term strategy, i think the strategy is key of success in the trading so Should have a good strategy and development
    i also like to trade with short term strategy, sometime i trade long term when i see some pattern like head and shoulder, trend lines and support resistance breakout in high time frame. working with our own strategy is the best thing we must have first as a forex trader. no need to follow other trader or trade depending on signal given by signal providers or other trader.

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