What is the best forex trading strategy?

[satokenta]

I have been reading about trading forex but I am unsure about the strategy I should be using. I have read about so many different strategies and they all claim to be the best and easiest. I was just wondering if anybody had any real experience trading forex that could recommend a good strategy to start out with.

[graceheather]

You have to experience it yourself with some of the reputable strategy.

Every trader has his/her own trading style.

Babypips forum & this forum is a good platform to learn

[anna575]

Hey, I read about trading forex. Really informative..... I learned a lot of things from this Forum. There are a lot of strategy which is one of the best and easiest for us. Nice Work....

[DaveyBoy]

Originally Posted by anna575

Hey, I read about trading forex. Really informative..... I learned a lot of things from this Forum. There are a lot of strategy which is one of the best and easiest for us. Nice Work....

Difficult to say which is the best trading strategy to follow. A lot will depend on account size, appetite for risk, trading frequency, etc. Financial position also comes into it. For somebody like Bill Gates for example, losing 10K trading forex is less than peanuts. For me, losing 10K would come to a decent chunk of change.

The best strategy is the one that fits your trading profile.

[tommy0921]

The best strategy is knowing deeply what you are investing. Why dont you try another demo account to have better understand? The deeper understanding forex you have, the lower risk you will make. People think that Warren Buffett always takes high risk investment. However, he said "It's not risk when I know what I'm doing" (I think his viewpoint can apply to forex).

While I'm playing at fxdialogue, I also ask the same question as you are asking on many forum. As a result I often receive the answer like this "Never start Trading without FIRST using a*DEMO Account. A Demo Account allows you to become familiar with trading procedures, such as placing Market, Stop and Limit orders without any risk. All dollar losses or gains in a Demo Account are imaginary but the EXPERIENCE is VALUABLE!"

My suggestion is to open a free demo account first, it helps you have better understand about fx and how it works.

[gnike]

Originally Posted by tommy0921

The best strategy is knowing deeply what you are investing. Why dont you try another demo account to have better understand? The deeper understanding forex you have, the lower risk you will make. People think that Warren Buffett always takes high risk investment. However, he said "It's not risk when I know what I'm doing" (I think his viewpoint can apply to forex).

While I'm playing at fxdialogue, I also ask the same question as you are asking on many forum. As a result I often receive the answer like this "Never start Trading without FIRST using a*DEMO Account. A Demo Account allows you to become familiar with trading procedures, such as placing Market, Stop and Limit orders without any risk. All dollar losses or gains in a Demo Account are imaginary but the EXPERIENCE is VALUABLE!"

My suggestion is to open a free demo account first, it helps you have better understand about fx and how it works.

May I know where to best open a demo account?

[DonnaMag]

As a long time trader, I have to admit there is no ONE perfect trading strategy. My best advice would be to stick with a clear trend and don't enter at extreme levels. Also, Look for reversals patterns. The most important piece of advice I can give is to manage your money carefully: don't blow your savings and only put down what you can afford to lose!
Good Luck and Successful Trading

[bathu]

i think babypips forum is better tutorial for all... its my choice

[JessForex]

I also find babypips to be really helpful as I start out.

[jen]

Originally Posted by graceheather

You have to experience it yourself with some of the reputable strategy.

Every trader has his/her own trading style.

Babypips forum & this forum is a good platform to learn

I will go with Grace here. Unless you are working out different strategies at different times, you will never know which one is the best to execute in the current situation!