Does forex strategies usually work>

I can easily blow all of these opinions out of the water in 5 min of a video chat/phone conversation with me.

If traders have the experience of using expert advisors, most ea need to upgrade, sometimes work on the market but when facing another market condition, maybe the system doesn't work correctly. this is one proof if forex strategy will work all the time

Yes, but the problem is that forex market are dynamic in nature, so whichever strategy that you used will not work again or repeatedly, so you will have to try to formulate again and again.

Every market requires a different strategy. Some techniques are more effective in trending markets, while others are better in rage or volatile markets. Take some time to learn about the market you're in and what methods are most suited to those circumstances.

The more time you devote to learning and practicing a plan, the better you'll get at executing it. You'll have a better idea of what's working and what isn't if you take a thorough approach. It will be more difficult to establish what aspects are driving your performance if you modify your plan too frequently or add needless complexity. Stick to the basics and trade with the trend when in doubt to maintain the odds in your favor.

The Biggest problem is not really strategy but:

Goal and Accountability!

richardmarcus posted:
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

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!

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.

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.

UweMoench posted:
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.

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!

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.

richardmarcus posted:
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

You need a strategy in order to be successful and you need to stick to it. But yes, they do work.

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.

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.

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.

Obviously, strategies work because that’s why traders have been able to make money. But I am not saying that all strategies equally work for all traders. You have to find a strategy that works for you.

Yes, profits in forex trading are very relatable to the quality of strategies. Strategy is very important in trading but you should build strategy with deep analysis of the market and using all important tools such as patterns, charts, etc.