Forex Trading Strategies

ITRADER trading strategies:

1. Choosing the Discipline
2. Choosing the Partner

There is no single formula to success in Forex trading. The Forex market is a place with constantly-changing prices and these changes are very significant from one day to another. To anyone trading in market, it is often advisable to have a strategy of some type. Your trading strategy will play an important role on your success. With a strategy, traders can focus on situation in which the market may be giving them the best probabilities of winning.

You are right. There is no formula to success because of the non-stop changes in the trading industry. The same applies with your strategy – today, it may be the best strategy, but tomorrow – useless.

I think every trader has his own strategy. Some use well-established strategies, some design their own strategy from scratch and others use a combination of strategies.

One of the main goals of my price action strategy is to keep my charts clean. The only thing I place on my charts are support and resistance areas. I use these support and resistance areas in conjunction with candlestick analysis to trade Forex. Packing my charts full of indicators would make it impossible for me to read price action.

Having a winning trading strategy is, without a doubt, a prime point for you to achieve the longed-for success as a trader. Thousands of people browse every day in search of perfect trading strategies that will make them earn money. Do you know how long it can take you to find a strategy that can be profitable? Much more than you think.

Basically, there are two types of systems or strategies: Discretionary systems and mechanical systems
Discretionary systems and mechanical systems. The signals that occur in mechanical systems are mainly based on technical indicators (or graphic patterns) applied in a systematic way.
On the other hand, discretionary systems use experience, intuition and judging every moment to determine market signals.

Thank you Guys, excellent response! love all the ideas=)

I think what matters the most is having the discipline, unless you don't know how to discipline yourself you cannot reach your goal. Better to suffer for now and enjoy later right?

You are absolutely right, there is no specific formula of success! That’s way, don’t believe on Holy Grail trading strategy, 100% doesn’t exist in Forex! At the moment, I am comfortable with my personal trading strategy even though I get 70-73% accuracy from this trading system! I can recover my losing positions too early because of using higher profit ratio, I use multiple TP positions in a trade!