It is important to understand that strategies do not always work. Most often, it all depends on the market situation and the choice of the strategy itself.
Mar 21 at 06:07
Forex strategies may or may not work. The reason why they do not always work is because of the always-changing nature of the forex market. It is very dynamic and the market situations tend to vary. Because of that, traders have to change their strategies. It is also why traders should backtest and have multiple trading strategies, so they can trade as per the market’s situation.
richardmarcus posted:Well, if you try to copy/paste others trading strategy or system, then surely you’ll suffer! In reality, most of the technical tool based strategies are meaningless in a long run, so don’t waste your time by following technical tool based trading tools! Try to learn chart reading (Price Action trading) strategy!
I am compartively new to trading and have many times came accross term like trading strategies can anyone explain me this it is just a myth or they work for real.?
Thanks in advance
They work, but they may not always work. Strategies are small edges that traders get in the market. However, the market’s volatility is unforeseen. Due to which, your current strategies may not be applicable to future market situations.
Mar 22 at 07:26
My strategy is I only trade pairs in ONE direction only and only trade it when I believe it is going in my direction. That is all. I never switch directions unless I see it is stopping or topped or reversal and I want to protect profit. I do not try to guess direction, hence chasing prices.
*I kill pips for fun.*
UweMoench posted:True, there is no way to copy/paste others trading strategy or system! We need to build our own trading style manually! On the other hand, only indicator based strategies are meaningless according to my own experience!
Strategies work. But to work a strategy we need to know how to use that strategy. We also need to customize strategy according to our mind set. But for that you need good understanding of market.
Definitely not. You need to understand that strategies work only at a certain moment of the market, no more.
Mar 23 at 04:45
Not all Forex strategies work well because if all strategies worked well, you would see all traders were profiting. A strategy is made out of experience and a trader trades according to the signals ensured by the strategy. This is how; a strategy is proven over time. Traders should put emphasis on developing better strategies.
Forex strategies may or may not work. They don’t work because they don’t fit in because of the current market situations. I think traders need to be flexible and have multiple strategies. So they can trade with the current market scenario.
Mar 23 at 09:30
richardmarcus posted:You need a strategy in order to be successful and you need to stick to it. But yes, they do work.
I am compartively new to trading and have many times came accross term like trading strategies can anyone explain me this it is just a myth or they work for real.?
Thanks in advance
Definitely not. You need to understand that the strategy is made so that the trader knows how to work at a certain moment of the market.
Mar 24 at 07:23
Most forex strategies during the inital stages do not work 100% because they are based on predictions, but it is certain that they can turn out to be the most profitable when done with research and tracking the daily movement of the market.
Traders who are serious and are seeking long-term success need to study the forex market and design their own trading strategy which is compatible with their trading style.
Mar 25 at 06:24
Forex trading strategies with an edge are mostly efficient. Traders should keep a check on the efficiency of the trading strategy by backtesting it.
A strategy depending upon your trading style and what you want to achieve. There is no best fit for all. Moreover, a strategy that works for you today might not work tomorrow, so you have to keep on updating it from time to time.
They work but not always! Strategies fail because they remain no longer applicable to the currency market situations. Since forex is a dynamic market, traders have to be flexible with their strategies. So they can trade as per the market situations.
May 09 at 08:32
In my experience, most of my strategies do work, but before creating them, a lot of research and patience were required to find a suitable strategy.
May 09 at 14:31
Till now, Demo is the best way to learn Forex! I believe in no superstition because as long as you don’t sufficient knowledge on trading, no one can give you profit. Mental imbalance works as a bar to the way of earning profit. So, before descending on trading, make your mindset in a way that doesn’t inspire to take high risk.
Should understand if forex trading included investment products in high risk, the market is dynamic and the strategy is static, on certain time strategy doesn't work, and trader needs to realize to protect account on these time.
