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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. #741
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    Quote Originally Posted by waqar1 View Post
    it has very important for every trader in the forex trading business to have a particular good and working strategy to face the market reaction when he starts trading. and trading without any strategy is like we are in examination hall without preparation of paper.
    when it is involved with forex it will be imperative also have the ability to do this trade with our own understanding in this business because we have an understanding with himself in the trade it will be become independent traders and we will be able to make much better in getting a handle on the market forex and will continue to advance in this business in a better boost trade

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  3. #742
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    This is why I always kick against the traders that will be happy when they hear any thing about the forex copy system. Food that kind of system will help you for a time period, but never you think that depending on others will secure your life and your investments, this is why I look toward getting my own trading system and management.

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  4. #743
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    Quote Originally Posted by hwaleed View Post
    Very good information, i have a strategy which belongs to long term trading in this strategy i wait for 2 or 3 days but get good results and now i will try short term strategy that you mentioned above and post result here soon.
    some traders are doing the well on the some strategies that they get from the peoples if are well in the forex then you have to see the things that makes you best in the trading if you are getting the well results from the strategy then you have to continue to make the well money that makes your life .

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  5. #744
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    Quote Originally Posted by zuhaibriaz View Post
    some traders are doing the well on the some strategies that they get from the peoples if are well in the forex then you have to see the things that makes you best in the trading if you are getting the well results from the strategy then you have to continue to make the well money that makes your life .
    I myself am pleased with wave and trendline and that is a very good thing and all need processes and peace and all will be well with focus and hard work and we have to be ready and focused and all will be well by discipline.
    I always open trade by small lot size. Previous tine I have lose my all capital for open big size trade. Also I use of take profit. And I follow market level and trend before open my trade.

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  6. #745
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    Quote Originally Posted by hwaleed View Post
    Very good information, i have a strategy which belongs to long term trading in this strategy i wait for 2 or 3 days but get good results and now i will try short term strategy that you mentioned above and post result here soon.
    if you have the better strategies then you best ,you have to get the well money by the some hard working so get the well money and makes the things ,if you are well trader then you can makes the things ,i am seen the forex as best ,i am working hard to be the best and makes the tarding best ,i am loving the forex .

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  7. #746
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    In all what I do in my life, I always love to e at the top of my game, and in the regard of the forex trading, it is always very better to take the real things out of the business by yourself, in having your own trading strategy you will always be the winner in the market and have the change to decide very fast in it.

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  8. #747
    Trader Dheeraj123's Avatar
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    Well I always like to use my own trading system in forex many time my friends suggest me use trading signals and forex robots for trading but I want to become a professional trading in this business my aim is not only money forex is my career also and one day I will surely become a pro trader here I love my trading strategy also in forex

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  9. #748
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    While I agree with them, you should try to identify any health strategies in addition to the right where you order. In addition to this, you need to create individual tactics just because the Forex market is a dynamic market that believes your tactic more than once, which means that you need to execute tactics may not work, and you have to build a unique expertise.

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  10. #749
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    Quote Originally Posted by Dheeraj123 View Post
    Well I always like to use my own trading system in forex many time my friends suggest me use trading signals and forex robots for trading but I want to become a professional trading in this business my aim is not only money forex is my career also and one day I will surely become a pro trader here I love my trading strategy also in forex
    i think forex is highly risky business,its totally money loss but with good analysis and strategy this loss can be reduce...also Forex is the highest returns. So, every investment has high returns,you should know that you can get high amount of money from forex trading but you can losing your money so much too from the market.

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  11. #750
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    I have 5 month experience About Forex business and i am a Beginner businessman or trader. i am still learning about Forex trading or business. but this is true that a businessman can earn money easily and take profit very quickly if they have own strategy.So i think Own strategy is the most important thing for a businessman to success in their business.

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