How to build a good trading strategy?
May 04, 2017 at 14:25
Building a good trading strategy is not at all one time task but it is a long process which requires experience, skill and sufficient knowledge of forex fundamentals. Back testing is a very good technique to test your own strategy before playing with it. However, for that one need to invest time practicing, understanding various technical indicators and then building your own strategy as per your area of interest & trading style. Switching from one strategy to other is not a good idea rather stay calm, patient & invest time in successfully building your strategy. Learning from own mistakes can also help in building a great strategy.
May 22, 2017 at 08:54
AlGauthier posted:
For me the best way to build a good trading strategy is true practicing and learning from your mistakes. No matter how much books you read the knowledge will never be full without real actual trading, simply because market is kind-a hard to predict. For this purpose I prefer to use demo account to test different ideas/ strategies ect.
Thank you very much for your contribution! Really, demo practicing is the most decent way! Novice traders should practice their demo account and keep leaning trading analysis! A good trading system is the core point here, so they have to start their live trading when they have a particular profitable trading system, otherwise not!
Mitglied seit May 23, 2017
13 Posts
May 24, 2017 at 06:28
It helps to backtest the hell out of any potential strategy. If it fails on backtest then ditch it. If It passes then it may work in forward testig
forex_trader_377398
Mitglied seit Nov 18, 2016
7 Posts
May 24, 2017 at 06:51
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.
Very true, you must define your trading strategy and stick to it simply, there will be times when the trade works very well for you and others in which not, for them must be patient.
May 28, 2017 at 07:57
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.
Practice and Practice! I see, maximum Forex traders take their decision so quickly, they jumped for live trading after making 3-4 TPs in a row only! But, don’t forget here almost 95% Forex traders are loser! That means, good quality trading strategies are very rare! So, don’t be over excited after making few TPs here, make 500 trades minimum and then judge your trading system!
Mitglied seit Feb 24, 2017
22 Posts
May 31, 2017 at 06:01
If you are new to trading I would recommend looking at many different trading strategies and test which ones work for you. You can build a good trading strategies here (https://www.itrader.com/en/article/forex-trading-strategies).
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