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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. #41
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    if we want discipline with our strategy we must have a lot patience on our trade and we must make a lot practice so we can become accustomed with discipline,because if we can accustomed with discipline on each our practice so we can discipline on each our trade with more easy.

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  3. #42
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    Strategy in forex trading is enough plays a very important for a success in the trade, and I should indeed every trader must have its own strategy, because if you already have your own strategy which is suited to our circumstances or our psychological condition, then the strategy will easy to apply in forex trading.

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  4. #43
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    Quote Originally Posted by Value trader View Post
    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 make some money:

    Attachment 740


    ...while my friend at the same time went short and make 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.
    In my word, trading strategy is the weapon of a trader which is very from investor to investor. every trader have own trading strategy. someone use just money management system and someone use technical and fundamental analysis. To say it clearly the system which a trader are using to calculate or analyze that is the trading strategy.

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  5. #44
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    Well, let me put something clear here, there are differences between traders having a trading strategy or trader devising a trading strategy, this means that traders that has a trading strategy that works should only use it on the note of the principle, and this might not require you to build your own, if you do, this may be a plus, but leave no mistake or contradiction of both.

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  6. #45
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    Every trader mind are not same.Many trader trader her own style and many follow others expert trader style.But it is very important for all trader.All trader are need make her own trading style.But may subjugation do not trade news time and short trade.It is very risky.

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  7. #46
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    Quote Originally Posted by cozard007 View Post
    Well, let me put something clear here, there are differences between traders having a trading strategy or trader devising a trading strategy, this means that traders that has a trading strategy that works should only use it on the note of the principle, and this might not require you to build your own, if you do, this may be a plus, but leave no mistake or contradiction of both.
    There is no need to design the strategy from scratch, but it is good if you do enough home work to select one that suit you most. Also you need to test it and change it to meet your style and aims. By doing so you will not only make your strategy better but will be getting good understanding about it so it shall be easier for you to apply in your trades.

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  8. #47
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    Every trader have a different thinking about forex. because everyone have a different theories about forex and different experience from others book. We can find two expert trader and open a different deals in the same pair but sure only one right what they do.

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  9. #48
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    every person have a different mind and a different way of thinking. that's why a single strategy ca not work for all of them. every person have there own goals too, that's why it is must for all the traders to have there own strategy to achieve there goals and perform better in the forex market.

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  10. #49
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    Well, if someone has his/her own strategy, then hats off to him/her because making a strategy isnt an easy task at all. You have to go through a lot of things so it isnt easy at all. And of course , you have a plus point as if it is your own strategy you can become very very good in it .

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  11. #50
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    but i think you make combination between the strategy and the plan , i know we should use that two but we should differentiate between that two to know every one and apply it , so i think strategy is different in plan but you may make strategy in the plan i mean there is :
    trading strategy : and this only mean the tools in the charts to get signal from it and enter on the trades according to that signal .
    plan trading or strategy in your plan : that mean you have plan and all of this depends on money management and apply it ..

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