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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. #51
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    Quote Originally Posted by taharoyal52 View Post
    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 .
    yes you areright,need a long time for make own strategy and for have strategy which suitable with our style trading,so we need for make a lot parctice and always repair shortcoming from our strategy if we want have accurate onw strategy,so we must have patience for get it.

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  3. #52
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    I agree with this thread, every trader should look for strategies that are suitable and in accordance with their own self-traders. not necessarily the strategies used by professional traders will work well if applied to other traders.

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  4. #53
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    yes i try to increse my strategy. when i start my trading . that time i think that trade can profit , if i sure it is making profit then i am making that trade. otherwise not . i am always try to take profit. because i know if i work perfectly in forex my profit must come to me. that for need good knowledge, experience, skill about forex. i have all so i am no tention . i am happy in forex.

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  5. #54
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    Having OWN strategy is essential for a good trader . There are various kinds of program to help a trader .As like stop loss .Different types of trading platform , money manager and so other . But there are analysis that is very important to trader successfully . But all of these are only helper because none of these are perfect to trade completely .So must choice a strategy For this we should analyze the market position and fixed our plane of trading .

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  6. #55
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    One should always have their own strategy when they are trading in the forex market so that they can manage the trades according to their trading style and the money in the account portfolio. This is very much important for the traders to customize the trades according to their needs.

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  7. #56
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    Forex market is place where we come to earn some money. So we have to get a clear concept about Forex market. Without knowledge about Forex market we can not be able to make profit here. We have to be experienced become successful here. And become successful we have to study and learn a lot about Forex. We have to do a lot of demo practice. We have to make a strategy for won. If you make a strategy for your won then you will be successful trader.

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  8. #57
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    Yes, every trade must have their own trading strategy. A strategy maybe can be suits with a trader, but maybe not suits with other trader. I ever learn from a trader who expert in forex, but i still dont use his trading strategy, because it is not suits with my trading style. So i need to develop my own trading system

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  9. #58
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    Forex trading is very risky business . in this business strategy is very important . a good strategy can give us to success in this business . if we have our own strategy that can help us to success in this business .

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  10. #59
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    After using lot of different systems i develop my own strategy, and I am now satisfied. Why? Because I know exactly why I use specific entry , stop loss, and take profit, and that is why actually i can follow my system rule, and often in others system , traders are not sure if they must blindly follow rules or not.

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  11. #60
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    In my opinion No strategy/plan = No profit .

    strategy helps you to survive on market. it helps to bring discipline on trade.If you trade without any plan , you will not able to make profit regularly !
    So , it is important top develop a plan that match you and it will increase your trading level .

    May your account blessed with many green pips .

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