To create a successful trading strategy

[sayem]

1. Reasoning of the trade: Why buy or sell? Which pair?
2. Timing of the trade: Why now? Before economic news releases or after? Day or night?
3. Trading objective: What is the take profit target? What is the stop loss?
4. Money management.
5. Documentation and analysis of the results.

 

[John_Davy]

That's brilliant.

 

[readyforex]

Good ideas!

I appreciate!

 

[vicknic]

You have a very good approach to forex trading. The question is how often a trader will ask such questions before opening a deal? Notwithstanding, these points are vital and should be used on a daily basis.

 

[Rambo35]

I would add it a good trading psychology and mind set up.

 

[mr bean]

we want to build our strategy. we need understand indicator. when we're in and out. we must know about it. we must test it on demo account when you see profit with it you can apply it for real account

 

[KhalafDagher]

Mentioned points seems to cover all important factors in trading. Do you think it can be feeded in trading robots and relax out?

 

[chief]

good stuff.
but i'd prefer to put money management at top list. it's to prevent any further analysis right after entry trade, some traders in doubt while facing negative trading result, and cut entry position prematurely at negative condition. while if we focusing in money management and its all anticipation this odds wouldnt never happen.