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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. #401
    Trader dkarev's Avatar
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    the only way money can be made in this business is when one is having his own trading strategy that can generate profit for one as a trader,the kinda understanding we have on this business play an important part on our trading sense,if we have a better understanding on our strategy we only stand the chance to make profit constantly when doing the business.

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  3. #402
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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.

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    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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  4. #403
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    to get a good strategy, we can shape it yourself or find a strategy that is so, but must conform to the style and character, but if we can shape it yourself so that we fully understand the strategy that we form, develop and test on a demo account so that more perfect according to our version, are increasingly being used in a demo account then we will be able to perfect this strategy the better, if felt ready enough and then we apply to our activities in our real account.

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  5. #404
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    Strategy is depended on which is more attractive for you and which is more appropriate for your trading time. I like to trade in this business with my own style and the traders who always use their own strategy are the only traders who always do great hardwork in this field

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  6. #405
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    i prefer to trade with interday strategy and sometimes i trade with scalping according to the conditions of the market and do not prefer to trade with long term strategy because it needs a good experience and a big capital so interday strategy is suitable for me,but each trader has his own style in trading that differ from the others. we would not be so successful in this trade, because not only the technical issues that affect the price movements in the market, but many aspects that influence the price movement in the market, so just by applying risk management we will be able to control losses will we get because we are not going to obtaining true in the analysis.

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  7. #406
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    Fibonacci numbers are the numbers good enough for our use in market analysis. Fibonacci calculations which have growing and split between support and resistance points. then Fibonacci can also be used to analyze long term trend period so that we can predict when the market will form a point of support or resistance point. forex traders typically use the Fibonacci traders who do not use indicators, so they just rely on the point above or below the point to determine entry and exit from the market.

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  8. #407
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    Quote Originally Posted by ohakaba ikenna View Post
    This is a very important factor to consider as a trader, it shouldn't be ignored, if I were to choose my own trading niche I would say I prefer to trade short term for the moment because its very difficult to determine long term targets,although am still learning to trade ,I've read from lots of professional articles that trading long term reduces your risk exposure when you properly apply risk management.
    please you build your trading style with a focus on your own expertise in this trade because it is very important to have the merchant in which traders must believe that this business requires how to do this trade better with our own skills and the skills of good will representing a better trading strategy in this business and this will greatly enable us more leverage in this trade

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  9. #408
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    i have not selected strategy for trading in forex but i am always prefer that's fast and low risks and i want to say there is no best strategy for earning from forex because these all has a risks and need carefully using whene opening deals or closing it with good expacting markets. i consider all the trading strategies as best to use in forex trading if the traders are having the required trading skills, knowledge and experience of using these strategies at the right time. traders need to have the skills for doing the market analysis which will let them adopt the right trading strategy for earning the profits.

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  10. #409
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    Yes.I agree with this post.It is very much helpful for all traders.Developing own strategy and trading with that is the perfect style of trading.You may follow someone to copy his strategy but it may not work all the time.You can take necessary steps in the market if you trade from your own strategy and can make profit from trading.

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  11. #410
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    Quote Originally Posted by COMANG View Post
    please you build your trading style with a focus on your own expertise in this trade because it is very important to have the merchant in which traders must believe that this business requires how to do this trade better with our own skills and the skills of good will representing a better trading strategy in this business and this will greatly enable us more leverage in this trade
    Focus on one strategy or one system is good thing especially if traders want to create proper trading plan in the first time because it's easier to focus on one strategy than many strategies at once. It will be easier if the strategy is coming from your own idea but don't ever think if creating your own strategy is the only way to create good trading plan. You can modify other's strategy to become your own strategy too so it won't waste too much time for trial and error.

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