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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. #3471
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    I think that the strategy we have form with our selves can be very good and the tools we choose of course we understand them totally , at the same time there can be very good points to use they are the experience we have in making the trading easier and the expectations for the real trading . thus the market can be easier way to trade with and follow the market all the times .

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  3. #3472
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    A trading strategy is the first step of power trading carrier but, in my opinion if a trader create his own trading strategy then it is more profitable for his trading carrier. because when he will do trade on his on trading strategy analysis then he will do that what will he do and what will be the result of doing it.
    But, one bitter truth we must have need to be aware that forex trading is not so easy and we have need to do a lot of hard work to create a successful trading strategy.
    But, it's not any difficult task for an hard worker.

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  4. #3473
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    when we have own strategy we can do good things, we can understand what is good for us and what is bad, actually own strategy always define what is best for us what is realistic based, because when we follow other persons strategy we can misguided some time,we can think its best and it can make us able to earn millions in days so that is wrong thinking

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  5. #3474
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    Quote Originally Posted by touqir View Post
    when we have own strategy we can do good things, we can understand what is good for us and what is bad, actually own strategy always define what is best for us what is realistic based, because when we follow other persons strategy we can misguided some time,we can think its best and it can make us able to earn millions in days so that is wrong thinking
    no doubt when we have own strategy we can really make good ideas but the issue is if we have good ideas how we can use them into trading, so demo is the only option where we can define good things, if we have demo we can survive for account management it will teach us everything, but without doing demo we can not do well, so strategy can be any just do some hard work and define what you need to do and how you can do, if you have this way you can understand how to earn

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  6. #3475
    Registered user ola4real's Avatar
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    Quote Originally Posted by Abu George View Post
    I think that the strategy we have form with our selves can be very good and the tools we choose of course we understand them totally , at the same time there can be very good points to use they are the experience we have in making the trading easier and the expectations for the real trading . thus the market can be easier way to trade with and follow the market all the times .
    Yes, what we have been thought can not be as strong as what we are teaching ourselves. That is why it is good for forex traders to be trading with the forex system they develop by themselves, this will help the trader so much. What is remaining now is for forex traders to make sure that they have experience before doing anything, and having experience on the best way to plan their trading is the best way out here.

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  7. #3476
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    The importance is so much clear, because on having your own trading strategy, you get to know what you should do and then what you shouldn't do. Those who has developed their trading strategy are good with trading the market. They understand the market so much better and then most of all, they know that forex trading is a risky business and so having a good trading strategy takes you to becoming a master of your own.

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    Registered user ola4real's Avatar
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    Quote Originally Posted by Makaveli View Post
    The importance is so much clear, because on having your own trading strategy, you get to know what you should do and then what you shouldn't do. Those who has developed their trading strategy are good with trading the market. They understand the market so much better and then most of all, they know that forex trading is a risky business and so having a good trading strategy takes you to becoming a master of your own.
    It is true, the importance of creating our forex strategies is clear, it is what i know that forex traders could be using to achieve their experience and know how to trade forex field correctly. We can get to trade forex field with the best possible results if there is experience, that is why forex traders should never relent in their learning until they are so sure that they are full in useful experience who can always help them to make income.

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  9. #3478
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    Building a good system is very important and will help traders to concentrate on following such system to trade forex. This market is risky and if plans are not made to manage a system, there is a great chance to easily loose your investment. A system must be managed and we should do everything to work on such system and see we can improve enough. If we can drive on the best chance to build our own system, the possibilities of becoming profitable will be high.

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  10. #3479
    Registered user Azis Muslim's Avatar
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    Trading with our own strategy is the dream of every Forex traders since the beginning they come here in the business. It is too bad that creating our own strategy will never be that easy from the start and we are better to copy someone else's strategy first to help us as a trading reference. Took me more than 2 years to be able to create a strategy with my own understanding and before that happened, I lost several times and got many errors.

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  11. #3480
    Registered user mexima's Avatar
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    according to my experience having your own strategy means knowing about marker 100% if you borrow some one else strategy means you will not know every thing about strategy like what should you do on news time or data time, how to recover loss if you loss .. but if you make your strategy means you will know every thing because you know how to made it and how to update that particular strategy .

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