How to identify the best forex strategy?

Discussion in 'General Forex Discussion' started by mumuy, Oct 22, 2013.

  1. mumuy

    mumuy Active Trader

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    It’s really hard to detect or to find the best forex strategy out there. Since there is no such thing as only profitable trades, there’s not even a forex strategy that will assure you a 100% sure thing. Ergo, profitability depends on the money management and the execution of the trade.

    Bottom line successful trading depends on the risk control, take losses quickly and often, if needed. Try to get your trade in the correct alignment right out of the gate. If it backs off, cut out and try again. Often, it is on the second or third attempt that your trade will move immediately in the right direction.
     
  2. Agnnis bingamin

    Agnnis bingamin Trader

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    We can be able to identify the the best forex strategy when we are familiar with market and update with whats happening in rest of the world as they have great impact on trading.
     
  3. Master Forex IB

    Master Forex IB Active Trader

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    best strategy can be developed after a long experience as we make experiments with different ways of trading we came to know what technique will profitable and how it has to be changed. traders are able to have best strategy for them when they are continuous in their working with forex market . They also know tips and tricks to make good earning from it.
     
  4. lee.belisar

    lee.belisar Confirmed Gdmfx Representative

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    It is indeed difficult to find the best Forex strategy. The Forex market is changing so as your strategy should be. It is indeed dependable on how you manage your funds and the way you do your trading. Good timing, familiarity with the Forex trends and a little bit of luck are also crucial to have a good trading day.
     
  5. John_Davy

    John_Davy Confirmed 1LotSTP Representative

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    Quite agree, Imagine inflation and deflation on international market as one strategy is best for today but might not best for tomorrow.

    As fellow lee.belisar said The Forex market is changing so as the strategy should be.

    On marketing101 their a lot of strategy that depends on the market condition this are What, How and When! we can apply this in Forex, always study the how trades work, what affects them and when the good timing to trade.
     

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