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The importance of Forex trading strategy

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  #1  
Old 16-03-2015, 08:56
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Default The importance of Forex trading strategy

Specific trading strategy should be used exactly for a chosen currency pair, for which it is created because it depends on the ratio of the certain currency pair. However, this does not mean that the other currency pair won’t benefit from the chosen strategy, but make sure you analyse the strategy more before applying it on different currency pairs.

The main task of any Forex trading strategy is to minimize the impact of external factors on the Forex trader and to organize trader’s activities. The development of a trading strategy can even be compared with the development of a business plan for a specific project.

When developing your own trading strategy or improving the old one, it is important to remember these rules:
  • Any trading strategy has a share of subjectivity, it does not guarantee a success and can work also against you;
  • Each Forex trading strategy should be compatible with a trader’s style;
  • 95% of trading failures are caused by lack of the psychological stability – Forex trading strategy is designed to solve this problem.

Traders can combine different methods or develop even their own indicators and trading robots, because there is no limit in different variations. now I try to stay consistent to trade with some combination of several indicators that I try to apply in TICKMILL
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  #2  
Old 16-03-2015, 23:02
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Default Re: The importance of Forex trading strategy

Quote:
Originally Posted by unclegober View Post
95% of trading failures are caused by lack of the psychological stability – Forex trading strategy is designed to solve this problem.
Yes. I would say more: EAs are designed to solve this problem.
Of course, any EA is based on strategy.
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  #3  
Old 17-03-2015, 14:06
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Default Re: The importance of Forex trading strategy

the most trader lose in this market. when we learn more we can encrease the win percentage. it is important. now i still learn more with demo account. we can learn more from our trade. it is good experience. you can join in some demo conest we can earn some money with it
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  #4  
Old 18-03-2015, 08:21
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Default Re: The importance of Forex trading strategy

I think that every trader should build their own strategy based on their goals. Of course, anyone can't make a good strategy without having first the knowledge of market. Once you have your own strategy it is important to stick to it as much as possible in order to avoid that emotions take the control of your trading, specially when results are against you.
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  #5  
Old 19-03-2015, 13:33
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Default Re: The importance of Forex trading strategy

Thank you very much for your valuable option. In addition, I also like to trade with my permanent trading strategy. Because, the volatile Forex market change detection for many times. So, if you trade without your trading strategy then surely you will lose big money. By the way, in my demo practicing period I watched beginners level and advance level video tutorials on ‘how to make a profitable trading strategy’ from TradingBanks trading broker. So, according t their direction I made my trading strategy that giving me monthly 30% profit. And, I am happy with my small consistent profit.
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  #6  
Old 20-03-2015, 09:29
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Default Re: The importance of Forex trading strategy

Well said
Forex market is open for 24 hours; new traders often suppose it as a gaining opportunity. But excessive trading without a trading strategy leads to higher losses and tiny gains. Professional Forex Trader formulates a suitable trading plan and strategy and sketches a suitable entry point prior to jumping into market.
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  #7  
Old 30-03-2015, 12:43
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Default Re: The importance of Forex trading strategy

Yes you have to pre plan some strategies in order to save time in last minute when you place a trade, it will also help you to make quick decisions.
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  #8  
Old 03-04-2015, 12:49
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Default Re: The importance of Forex trading strategy

In this trading place, there is nobody who can predict the real faction of this market with certainly. So, for keeping survive, we have to depend on our trading strategy that we select according to our trading experience. As a newcomer, I fixed my trading policy scalping that is most useable in this market place. And, I have selected GCI as my trading platform where I am getting only one pip trading spread which is very supportive to make profit by using this short term trading policy. Due to getting very narrowest trading spread my trading life is comfort and profitable.
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  #9  
Old 03-04-2015, 14:20
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Default Re: The importance of Forex trading strategy

Pre planning strategies is very important as the market is very volatile and you might not get enough time to place a trade in time, although there is no fix strategy for making profits but a trader should continuously evaluate new strategies.
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  #10  
Old 05-05-2015, 12:05
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Default Re: The importance of Forex trading strategy

For keeping survive in this volatile trading place we have to depend on our trading strategy that we select according to our trading experience. I have selected scalping as my trading strategy due to getting profit instantly. And, my trading platform GCI is very much supportive to me to make profit by using this trading policy by means of only one pip trading spread.
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  #11  
Old 08-05-2015, 07:49
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Default Re: The importance of Forex trading strategy

Yes, very helpful thread. I think that having a trading plan is a way to have many factors of your strategy under control and definitely it is a very important thing that contributes to the trader's success.
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  #12  
Old 22-10-2015, 04:53
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Default Re: The importance of Forex trading strategy

rading strategy for Forex is basically a defined set of rules for trading. Strategy largely affects the long-term success in Forex trading. Trading without strategy is able to give only the short-term profit and soon can be followed by a collapse. That is why Tickmill offers its customers to learn and choose among the most successful Forex trading strategies the one that fits your trading style the most.
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  #13  
Old 06-11-2015, 07:42
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Default Re: The importance of Forex trading strategy

Forex trading strategy can help you build reasonable trading objective and risk control plan, that's quite important because you have to adjust your strategy accordingly.
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  #14  
Old 09-11-2015, 12:45
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Default Re: The importance of Forex trading strategy

Forex strategy plays key role in your trading as it basically means the edge in the game against other players, and exclude randomness from your trades. Never trade more than 3% from you deposit and you won't lose in short run for sure.
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  #15  
Old 12-11-2015, 04:27
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Default Re: The importance of Forex trading strategy

To become a professional of trading require strong experience and knowledge as well as the reading direction of the market situation due to the movement of the forex market not only by traders but other institutions. I've now learned was trying to maximize my analysis to read the direction of the market with better
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