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    Thread: What is the best Forex Strategy?

    1. #41
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      Default When should I change my strategy

      Quote Originally Posted by taifon View Post
      When should I change my trading strategy?
      The fact is that there is a difference between changing the trading strategy and developing it, where the development is to keep the same strategy, but with some adjustments to the tools and settings, and this step must occur from time to time, but changing the strategy means that you have a strategy you are completely unable to deal with Or understanding it would be better to change them completely and look for new tools for analysis
      In forex trading, a trader is expected to develop a working strategy which must have stood the test of time (3 months upwards of delivering profits consistently). This should been used with a demo account. In the same vein this strategy is expected to be bringing in profits consistently with live account probably or conservatively wining 7 out of every 10 trades. This is with the assumption that a trade does not take more than 5% of the available capital (stop loss of 50 pips and take profits of 50 pips). If at any point the winning trades get to 5 or lower out of every 10 trades, then there is a need for the change of the strategy.


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    3. #42
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      Default

      to really make progress in the forex trading business, the forex trader needs to have a working strategy. there might come a time, however, that a working strategy fails to deliver. the trader in such a situation should examine the reasons why the strategy keeps failing. is it the strategy that is no more working? or is it the way of using the strategy, high risk-taking? impatience? over-trading?

      when these ares are examined and the trader is sure it is the strategy that is no more working effectively, then the trader would need to start looking for a new strategy. he might modify the existing strategy or get a new one entirely.
      ''Too many times we settle into a set way of thinking and accept limitations that need not be placed on us'' -John C. Maxwell

      Hedging Edge: Heading For $6 Million!


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    5. #43
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      Default

      It will depends on trader how much they have invested capital or have planing with live trading if we are short term trader our using scalping strategy using small lots then it will be best for small investment, if we are long term trader then according to the market movement we can decide of using strategy first using it in demo account and do practice on it if it will works properly then use long term in live market, with my personal experience we need to change our strategy after 3 or 6 months or never use same strategy on all currency pair use different methods on different pairs for making profit.


    6. #44
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      Default

      We need to change the trading strategy when think it is not longer given us profit continuously at least for more than 3 months. I must to change my own trading strategy when face it, that means my own trading strategy is not longer suitable for my selves. It is better if we create a new one and make sure to know what is our trading characteristic and our trading ability. Well, it will be need spend more time to have new trading strategy, at least we must test our new trading strategy on demo first to have a good results, is it will be profitable or not.


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    8. #45
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      Default

      The best trading strategies are always updated at any given moment and that of course must be done by the trader. Just imagine when a trader use a long term trading strategy, let's say it the target is for monthly. Trader start open buy position at 1.300 with target take profit 1.800 In the first week, analysis from the trader walk smoothly, as his prediction the price at that time is touching 1.400 In the second week, walk smoothly too, as his prediction the price at that time is touching 1.500.
      In the third week, there is a news where the impact is really shocked. The price is sideway for a week, in the fourht week then the price go reversal againt his prediction and back to 1.300.


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    10. #46
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      Default

      Choosing a best strategy of our currency pair is needed practice in demo account because we will have a lot of daily based strategy which we need to practice in demo on different currency pairs then we will have idea this strategy will best for this pair mostly we will trade on GU and EU currency pairs and if we can trade with long term then use some indicators follow the market trend and it will give us profit. making a long term strategy or it will be profitable will need few month practice or every week we need to change it if the trader will hit stop loss we need more take profit as compared to stop loss then this strategy will best for using in live account.


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    12. #47
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      Default

      I have not tried many trading strategies but because of the diversity of strategies that suit some people and do not suit others, I see that there is no better strategy
      But there is a more appropriate strategy
      You must first determine what is the purpose of trading and what times are available for trading so that you can determine the best strategy to suit your circumstances
      For me, the ichimoku system is one of the best tools I've ever tried in trading and I've been using it for a long time. Currently I am looking for some tools to develop this system


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    14. #48
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      Default

      The truth is I do not have much experience in news strategies so I can not judge them
      But trading strategies that rely on technical analysis are many different and I think it is difficult to choose one strategy and say this is the best strategy
      You can offer one trading strategy and when you ask for others' opinions, you will find the responses different and there are those who have succeeded in using it and there are completely failed
      So everyone has to experiment by himself and choose the right one for him
      Through my experience I chose a trading strategy based on price channels which is the most successful from my point of view untill now


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    16. #49
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      Default What is your profitable forex trading strategy?

      Those harvesting pips from the forex market on a fairly regular basis do not rely on mere luck alone, but a profitable strategy. What is your profitable forex trading strategy?
      POSSIBILITIES ARE INFINITE IN THE FOREX MARKET, YOU CAN ACCOMPLISH ANYTHING !


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    18. Lamboghini
    19. #50
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      Default

      I am using three types of indicators in my trading. All are technical analysis. These indicators are support & resistance, RSI and Zigzag indicators. In Combined your trade will be profitable for sure. But you need proper analysis in demo account. Without demo practicing it should not be applied in your real account. I have attached three pictures for these techniques. With the combination of all of these indicators, i have decided to buy USD/JPY for a long run.

      1. Support & resistance required long term time frame. Such as MN1, W1, D1 etc. Short term support and resistance should not be taken into consideration.

      2. RSI indicator is fruitful for every kinds of time frame whether it's H1 or M30. Although for getting better result it's better to use this indicator in D1 and W1 time frame.

      3. Zigzag indicator indicates the market movement with zigzag style. It's helpful for analyzing the market's predicted movement.
      Attached Images      


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