How to build our trading strategy in forex?
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    Registered user Hukam's Avatar
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    How to build our trading strategy in forex?

    A Forex Trading strategy, if properly developed and followed will allow you to survive and make progress in the Forex market. Without a good trading strategy no trader can become successul in this business. There are many trader's who not able to know the exact value of their trading strategy in forex. So how do you develop a strategy that keeps your risk minimal while allowing you to trade the Forex Market?

    Strategy.jpg

    1. Follow the market trend: I am talking about this topic in starting because its very important to follow a market trend in forex. No matter which type of trading strategy you are are using you have to always follow the market trend, you can't do trade against the market trend.

    2. Check about your trading style and time frame selection: You should have a very good idea about your trading style first of all you should know that which type of trading suit to you like long term trading or short term trading, and should know about trading styles also like swing trading, scalping, etc. Along with it you should know about your time frame selection also. As a short term trader you can do trade with lower time frames like M1 to H1 time frame and for long term trading goal you can choose H4 and above time frames.

    2. A Good entry point: A good entery point should be there in your strategy because it will help you a lot to get a good risk and reward ratio in your each trade and even you will able to lock your trade during trading. So try to find out a good entry point.

    3. Follow Risk management: Your next step will be to follow a strict risk management in your trading. Set our stop loss and take profit levels properly and don't try to use any kind of high risk in your trading. Proper risk management is very important part of our trading.

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    Rookie rinaji's Avatar
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    Quote Originally Posted by Hukam View Post
    A Good entry point: A good entery point should be there in your strategy because it will help you a lot to get a good risk and reward ratio in your each trade and even you will able to lock your trade during trading. So try to find out a good entry point.
    It is important point that I got from this forum, I usually never care about good entry point, so I can put my entry at the position where the risk reward ratio is really beneficial for me, I always put the entry when I get a signal does not care about the risk reward ratio, and now I understand this, we must take care about risk reward ratio, and just put our position if we get a good signal by calculating the risk-reward ratio through our analysis.

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    Rookie erespe's Avatar
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    Quote Originally Posted by Hukam View Post
    3. Follow Risk management: Your next step will be to follow a strict risk management in your trading. Set our stop loss and take profit levels properly and don't try to use any kind of high risk in your trading. Proper risk management is very important part of our trading.
    I chose to comment on this point, because I think there are many traders who forget it. Either because they do not know or know but lost by nature wants to get rich quick and greed. I think every trader should pay attention to this point. No matter how good their strategy, if these points do not exist, loss account will only be answered by time.

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    “Not everything that can be counted counts, and not everything that counts can be counted.”
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    follow the trend, this is the most popular words at this business,and of course, this is the safest and most profitable, but how to follow the trend properly ? and what steps we have to take then we can follow it correctly ? and of course, there are so many questions that what asked by all of us at the first time, and now, we are in process and struggle to fix everything then we can follow the trend properly

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    The building of the trading strategy is never the issue in the market, but the ability to strictly follow the trading strategy you have built. This is what is really important for traders to know. If you are the type that is using the ones the professional traders has built, it might be better for you, but try to do real application.

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    Registered user Hukam's Avatar
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    That's good rina ji I think its important that we have to find good risk and reward ratio points in our trading. My focus is also on my risk and reward ratio point some time you do trade with middle of the trend but there still you have a great chance to make money because you know very well that how to manage your trade in the market if there is 1:2 risk and reward ratio still in middle trend then its not a bad deal at all

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    if we can analyze the market and get good entry point and also exit point, so we can maximize our trading forex with good profit too, and even if we increase the risk to get more profit, but the problem is, how to get them ? i usually use support resistance with channel,..do you have some ideas about it, let us share

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    [lang=ar]I think to build up our strategy we need to understanding well the market and its conditions in order to make the general picture for the market is more clear . then we have to decide which tools we are in need for . thus we may notice that there are some indicators wre more likely to use than others . . are we in a need to follow the news . ? which of them ? is the final outcome of the news will influence my analysis?[/lang]

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    [lang=ar]a trader who trade without a certain plan or strategy may face alot of problems . like random trading . over trading , and putting random targets and random stop loss. but instead the good trader must have his own strategy which must be of his own creation and contains all the fundamentals he want to use in his own trading . so the strategy may be very simple but at the same time it may be so strong[/lang]

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    Registered user Hukam's Avatar
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    You are right mate our confidence should be in good level otherwise as you are saying that high confidence neglect the use of forex trading discipline, We try to expect more from the market and try to earn a lot of dollar's within short term time. I faced already this thing many time in my trading career but now everything is going fine mate

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