Does forex strategies usually work>

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

They are not a myth.

Can they work and with which broker and account trading balance.

They test well but doesnt mean trading forward it can work since trading forward and testing backward are really two different things.

People are better off making their own strategies that way you learn more about trading as well as about strategies.

Biggest use of strategies is they can be used to provide trading signals to the user who design, properly test and use a good strategy to monitor the market before taking manual trading decisions.

Thanks for the advice i would surely look into this and test my strategies on my demo account.
Can you tell me difference between trading forward and testing backward means

na, its not a myth. The strategies really works when done the market study is done thoroughly.

And without a strategy, it is very difficult to trade and almost impossible, so you need to learn how to develop them as soon as possible.

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.

perryjohn765 posted:
na, its not a myth. The strategies really works when done the market study is done thoroughly.

Can you link me up to any learning material from where i can gather information and start making my own strategies?

Beagelv posted:
And without a strategy, it is very difficult to trade and almost impossible, so you need to learn how to develop them as soon as possible.

CAN YOU GUIDE ME THROUGHT THE PROCESS

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.

I DO UNDERSTAND THAT AS I AM NEW HERE CAN YOU TELL ME HOW TO BUILD UP THE STRATEGIES?

Beagelv posted:
And without a strategy, it is very difficult to trade and almost impossible, so you need to learn how to develop them as soon as possible.

Most who believe you can only trade with auto strategies are typically those who are selling strategies.

Let me affirm that its a fallacy to believe you can successfully trade on timeframes Min5 to H4. No retail trader can use MT4 or Mt5 and trade successfully on those timeframes. By this I mean long-term...Its simply not possible....I wont even start to tell you fully here But its common sense why it cant work.

So if you are left with D1 W1 and -Month 1 to use as Trading timeframes....Clearly you dont need to automate those to trade successfuly for the next 50 yrs.

Those who would tell you otherwise....I would only shake my head....

Beagelv posted:
And without a strategy, it is very difficult to trade and almost impossible, so you need to learn how to develop them as soon as possible.

Can you guide me through if you are free anytime?

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.

Every person is different. So, trader should build their own strategy or customize other's strategy.

Yes. To become successful in this risky market, you have to make a solid plan. A good plan can make you rich in this market.

Yes, but the strategies only work when you go through the market well and do some good research over trends.

LyudmilLukanov posted:

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.

Every person is different. So, trader should build their own strategy or customize other's strategy.

ok i will surely work upon this

Dictiony posted:
Yes, but the strategies only work when you go through the market well and do some good research over trends.

yes i am on it and going through demo account

the strategies do work. one has to be patient and hardworking.

Gracewilson1995 posted:
the strategies do work. one has to be patient and hardworking.

yeah i got your point

Strategy works but not every strategy works for everyone. What works for you, may not work for me. A trader needs to find a strategy that works for him. It takes a lot of time to test strategies.