Practically in order to our trading understanding we the traders choose our trading strategies. According to me , if you want to get maximal result by your trading strategy , first of all you have make sure the proper money management approach , otherwise that’s not possible at all to make profit at all with great consistency despite of most powerful analyzing trading strategy. so, it is more important to know how to manage money in Forex trading.
Gettone1 posted: Good day to everyone one, i just wanted to discuss about the every strategy where is in this feed. Does any of them is really have chances to be profitable? Or just everyone who did not succeed sharing their strategies, to get some ideas from another people?
I'm glad, lot of people sharing their strategies, to new players get some ideas to create something by their self, but cmon if you are depressed of looking something good, not created by your self, that little bit naive to find something great, that works and you will make profit. Maybe there is chance, but 10% i guess, what kind of person will share his big strategy for everyone..
Like anything in real world nothing comes for free. So do not blindly trade using someone' EA do not buy EAs unless there is proof it does work on reputable broker, take your time and find your own way to success.
As a strategy, I use market context, support resistant level, divergence, etc. and combine some important issues with it. These are money management, risk management, trade management, trading plan, etc. I use this important thing.
Beginners really need to understand how much money they want to spend and how much they are prepared to lose in the FX market. This helps traders to understand when to end a particular trade. If Beginners start small and slow, they will be able to acquire success thorough knowledge of FX. Besides as a forex beginners everybody should follow this :
1.To see forex related forum regularly 2.To learn forex trade properly 3.To follow this website or channel who are teaching beginners about forex like mfxcenter.net
You better develop your own strategy, it's very difficult to replicate another trader's strategy. Like a trader tried to replicate my manual trading strategy and failed woefully. It look amazing and easy to him when I keep the profits coming, but he never knew the complexities and the mode and speed of calculation and processing speed my brains goes into, to make sure I make the best decision with higher percentage of exiting each trades with profits.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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Past performance is not indicative of future results.