The importance of having YOUR OWN strategy
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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:

    example 1.jpg


    ...while my friend at the same time went short and made money on his trade too:

    example2.jpg


    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.

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    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.

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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. #4
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    It's very important that any individual who intends to invst in the currency market should ensure that he or she first work building his or her trading strategy before investing on live account,and thanks to our resourceful site such as our forum we can be rest assured that learning tools are at a click of a botten.

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    Quote Originally Posted by uchexxx View Post
    It's very important that any individual who intends to invst in the currency market should ensure that he or she first work building his or her trading strategy before investing on live account,and thanks to our resourceful site such as our forum we can be rest assured that learning tools are at a click of a botten.
    Yes, you are right brother. and I think every trader must use won strategy , there is I want to mean our every calculation or analysis one kind of strategy and it is can be without indicators ! that means every body have a strategy but every one do not use same strategy and maximum trader always depend on indicators which so effective and relabel.

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    Don't loss you hope.

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    Quote Originally Posted by mohabbat View Post
    Yes, you are right brother. and I think every trader must use won strategy , there is I want to mean our every calculation or analysis one kind of strategy and it is can be without indicators ! that means every body have a strategy but every one do not use same strategy and maximum trader always depend on indicators which so effective and relabel.
    Having our own trading strategy in the forex market indicates the determination of the traders. Thus, traders should always make sure that they denote some good, quality time when they are trading in the forex market which can help them in developing trading system upon which they can rely upon. For all such cause the traders can make use of the demo accounts and thus reach their determined phase of excellence accordingly.

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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.
    This is very good thing that we set the own strategy and follow that strategy. when we make hi sown strategy then we must have a great chance to win and earn the best profit.
    When we make hi sown strategy then we use it very carefully and in the proper way because it is create his own.

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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.
    the truth is that each forex trader should find out the trading method that suits him most. put the methods to a test in the demo account. it is when you can boast of steady profits that you can now trade the system or method.

    - - - Updated - - -

    Quote Originally Posted by maham.forex View Post
    Strategic planning is about the future. It is an effective method to competitively position your company for the future. having a trading plan helps traders treat trading forex more like a business. Most people interested in FOREX trading a already know that anyone running a business generally requires a business plan in order to have an organized basis from which to achieve greater success.
    the forex trading business is actually a business, though most people fail to see it as such. it requires serious plan. the plans must also be followed to the end. traders should see the planning process as a very important part of the business.

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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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  10. #10
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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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