Finding successful forex strategy

[JIANG ZUOXIAN]

Trading on the market shows that the most good results are achieved by combining the various trading systems. But finding a good system is not so easy.
Maybe we can share here some experience and results of using different trading systems?

 

[Xavefif]

I guess this is one of the hardest tasks, because to find a profitable trading strategy is very hard and most likely you'll have to create it yourself.

 

[Martin Gaptil]

You can find a successful trading strategy from various sources , but if you want to get maximal result by your trading strategy first of all you have to make sure real money managing plan , otherwise that’s not possible at all to make profit with consistency despite of having most successful trading strategy.

 

[JIANG ZUOXIAN]

I guess this is one of the hardest tasks, because to find a profitable trading strategy is very hard and most likely you'll have to create it yourself.

Yep, that's what I'm talking about.
You, probably, will not find a ready recipe of a profitable trading strategy. But combining some of working methods

 

[JIANG ZUOXIAN]

As far as I understand it is almost impossible to trade in the forex market and not to lose but if you use scalping with a short stop or arbitrage, then the risk can be reduced to almost a zero.

 

[GazFx]

I have said this many times, but a good strategy begins with good money management.

If my strategy produces 90 winning trades out of a hundred, and I make $1 per winning trade and lose $10 per losing trade, I make a $10 net loss. On the flip side, if I win 10 trades out of a hundred, and I make $10 per winning trade and lose $1 per losing trade, I make a $10 net gain. All I've done is limit my losing trades to $1 each, and let my winning trades run to $10 each.

I know this is an over simplified scenario, but it does highlight the power of money management. If you know the historical win/lose ratio for a given strategy, and the average amount won in a winning trade, you can plan ahead. If you have a 30/70 win/lose ratio, and your winning trades average $20 each, on average you'll win $60 in every 10 trades. If you want to ensure a net overall profit you'll need to keep your losing trades under $8.50 each, and preferably much less!

Learning about money management is worth every bit of effort you put in. Theoretically speaking, good money management makes losing almost impossible!

 

[Alexfx79]

Price action system helps me to be quite profitable during the last three years, try it if you have't yet. I use sr levels, and some indicators as well

 

[Elsie]

From what I've learned so far, there is no 'magic system' to trade. If there were, then the person who got it can become the wealthiest person on earth. Whatever we decide from indicators are subject to change by fundamentals.

 

[GazFx]

From what I've learned so far, there is no 'magic system' to trade. If there were, then the person who got it can become the wealthiest person on earth. Whatever we decide from indicators are subject to change by fundamentals.

Precisely! Technicals tell us what "is" happening, fundamentals tell us what "will" happen.

 

[JIANG ZUOXIAN]

Price action system helps me to be quite profitable during the last three years, try it if you have't yet. I use sr levels, and some indicators as well

Is it robot or manual trading?

 

[JIANG ZUOXIAN]

From what I've learned so far, there is no 'magic system' to trade. If there were, then the person who got it can become the wealthiest person on earth. Whatever we decide from indicators are subject to change by fundamentals.

Yes, I agree that smth that works for one doesn't for another. Though anyway its good to hear opinion from beside

 

[Alexfx79]

Is it robot or manual trading?

I trade manually, but this system can be programmed as well 🙂

 

[JIANG ZUOXIAN]

I have said this many times, but a good strategy begins with good money management.

If my strategy produces 90 winning trades out of a hundred, and I make $1 per winning trade and lose $10 per losing trade, I make a $10 net loss. On the flip side, if I win 10 trades out of a hundred, and I make $10 per winning trade and lose $1 per losing trade, I make a $10 net gain. All I've done is limit my losing trades to $1 each, and let my winning trades run to $10 each.

I know this is an over simplified scenario, but it does highlight the power of money management. If you know the historical win/lose ratio for a given strategy, and the average amount won in a winning trade, you can plan ahead. If you have a 30/70 win/lose ratio, and your winning trades average $20 each, on average you'll win $60 in every 10 trades. If you want to ensure a net overall profit you'll need to keep your losing trades under $8.50 each, and preferably much less!

Learning about money management is worth every bit of effort you put in. Theoretically speaking, good money management makes losing almost impossible!

Ok got it. thanks

 

[Michelle Yeoh]

I think differently! I know a trader who is making money by using moving average crossover trading strategy, but when I tried with moving average- not a good result I found! In addition, now I am doing news trading only! Maybe it’ll not be a good choice for you! That’s the reality!

 

[I-Forex]

90% of traders lose 90% of their bankroll in less than 90 days. - High level....Most traders are impacted by the emotion factor (deadly), once your strategy is established, stick to it, avoid multiple trades, especially correlating ones. The most common error is not having a risk management system. (If you do not have one, then you are gambling) If you do not learn from your mistakes, you will repeat them, if so then you are part of the 90%. You have to study hard, track and learn all aspects of the market, control your money and analyse all your trades (wins & losses). Do not trade just to trade, enter a trade when all your rules or requirements are confirmed. If you think about the quantity of people trading and that lose money, you should ask yourself, what does it take to be a successful trader? If you do not know the answer, I highly recommend you trade Demo until you do.

 

[Alexfx79]

Take advice from trustworthy financial advisors, I think they will give you a right path to go ahead.

Where can they be found?

 

[Alexfx79]

You can search online. They provide FREE Trial as well.

I thought you're talking about people, not about robots, not I've caught your idea
But I'm note sure whether it's so simple to find a really profitable one. Other way, people wouldn't share or sell their strategies, if they were so much successful. But I can be wrong as well, as I've never worked with eas, it seems to risky for me

 

[danielelton]

Successful strategy depends on your trading style and personality. Most often traders can not stick to their strategy. As a result, they can not be consistent in one strategy. if a trader wants to develop a strategy he should be consistent with his strategy.

 

[Kevin Murdok]

The trading strategy and its efficiency depend on how to manage it. The different personality type of the trader may have a different effect on the quality of the trade. Use that trading strategy that is right for you. In order to find the right strategy, you need to constantly work on yourself and improve your knowledge.

 

[Nicolas Sanz]

Work, work and work again. What a bore .. But unfortunately on another it is impossible.
I try to find the easiest way.
But speaking directly, the best theory is the channels. Everything is clear as daylight.