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How to build a good trading strategy?

RichardBills (RichardBills)
Oct 23 2016 at 06:06
74 posts
Hero76 posted:
Good strategy is experience mixed with smart brains and still nerves. Observation and attention to detail and to the indicators. Fundamental analysis, news analysis, knowledge of each other and its collaboration - that’s the way it works. Or go make some scalping 😁

also agree on the important of psychology in trading! you should be able to accept a loss but keep going...

RichardBills (RichardBills)
Oct 23 2016 at 06:06
74 posts
good planning and forecasting as well is important, add to the recipe and a flexibility to try different techniques 😄

RichardBills (RichardBills)
Oct 23 2016 at 06:10
74 posts
After all, the strategy is your approach that leads you to your ultimate goal. It has to reflect your personality, trading style preferences and skills. Will you scalp or will you go for the long run, it all depends on your goals and plans.

AlGauthier (AlGauthier)
Oct 27 2016 at 06:56
35 posts
zooz10 posted:
I found the best but i don not have a money to invest

what do you mean by the best? can you share a bit more what it is exactly?

AlGauthier (AlGauthier)
Oct 27 2016 at 06:56
35 posts
prakash104 posted:
My forex trading success is due to two things.

1st - trading method
2nd - self discipline

               A professional forex trader will use a simple forex trading method.It won't be a complex method.Many losing forex traders don't have any good strategy to trade forex. They may be using multiple techniques and different time frames.The key to success in forex trading is you must have a well defined simple trading strategy.

                     If you are using multiple techniques, then take a resolution from here onwards not to use them.Use only one or two techniques.Never change your strategy and time frame because there is no holy grail in forex trading.All strategies will fail at any time.

If all strategies will fail at any time, why not changing the strategy then to remain successful? How can we address the complexity of the forex market with simplicity?

CliveCampbell (CliveCampbell)
Oct 27 2016 at 12:51
47 posts
Demo trading can help you a lot if you are sure that the demo environment is really close to real account of your broker. However there are some descent brokers providing good Demo environment exactly for building strategy purposes. Another things that might help, is find web live trader, watch and learn and apply!

mr_cenk (mr_cenk)
Oct 31 2016 at 15:36
44 posts
agree about the demo account importance. I read a lot also on other discussions here that this is a must in testing the strategies.

FxMasterGuru (FxMasterGuru)
Nov 01 2016 at 04:59
1607 posts
I suggest browsing and picking up some good books:

1. Market Wizards (by Jack Schwager)
2. The New Market Wizards (by Jack Schwager)
3. Reminiscences of a Stock Operator (by Edwin Lefèvre)
4. Trading in the Zone (by Mark Douglas)

Then get ready for your 10,000 hours of screen time.

Why 10,000 hours...?That is another book by Malcolm Gladwell: 'Outliers: The Story of Success'

Or as an alternative: If you can't beat them, join them...

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Tony Gregg
Nov 01 2016 at 07:50
158 posts
A Simple Trading Strategy - Candlestick Cross & Candlewick Cross.

At the start of Every Month, Every Week, Every Day Do the Candlestick & Candlewick Cross, but especially at the start of every month. The Candlestick is broken into 2 parts, the Body and the Wick.

 Candlestick Cross: Place Horizontal Lines at High and Low of Candlestick. Then draw lines from Low to High and High to low to the next gridline.

Candlewick Cross: Place Horizontal Lines at Low and High of Wick and draw lines from High to Low and Low to High.

When the next Candle moves above the upper line that's a buy signal and below the lower lines that's a sell signal.

Works best on Longer Time Frames, but you can use it on any Time Frame.

Good Luck & Happy Trading!!!

Tony Gregg
Nov 01 2016 at 07:55
158 posts
You know what I think, these Elliott Wave Theorists forget every other Technical Indicator, trend lines, the lot just so they can get their flat, their triangle, their double bottom and anything else they can think up. I think it is the Elliott Wave Theorists who manipulate the market and I think it is a Bankers Theory.

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