what is the best trading strategy

[NVP]

We're trained from an early age to believe in hard work, and that's something I will be instilling in my two children when they're old enough to understand.

Trading doesn't fall into this category as it's just gambling in most people's minds. However, think about all the time you've speant researching/back testing/analysing.. that's work!

I also find it instructive to look at what some of the (more successful) traders have done. Soros is big on philanthropy, Jim Rogers spent three years travelling the world, Jesse Livermore killed himself. There are all kinds of options..

Jim Rogers is seriously under-rated re his contribution to Quantum....his recent articles in the Financial press have reminded me I need to look back at all his work again and buy the travel book !

N

 

[NVP]

The best strategy ever is not to listen to the drivel from vendors and newbies on this site.

you're probably best not listening to anyone else either. Figure it out for yourself.

Quite right re above.............although you could try Jason Fielder's systems that are brilliant

N

 

[Jason101]

The best strategy ever is not to listen to the drivel from vendors and newbies on this site.

you're probably best not listening to anyone else either. Figure it out for yourself.

That's about it.

The question is not what is the best strategy. The question is what is the best statergy for YOU.

A strategy YOU compile will by nature fit YOUR requirements.

 

[forexnetworth]

The Trader

There are several ways and means to trade profitably. I personally trade breakouts on the 15 minute chart in the direction of the daily and 4 hour market flow. This is what suits my personality. I have friends who trade retracements. We take the same trades, but enter at different points and are still profitable.

At the end of the day its not the strategy that matters. What matters most is the trader and risk management. Try everything, explore everything and find whats suits your personality best.

forexnetworth

 

[MarinaBracken]

Forex Robots

Forex or foreign exchange trading refers to the buying and selling of currencies all over the world and forex robots are a forward step in this work. They can help you to trade easily but you can’t be guaranteed. The profit or a loss depends on how smart they are or their robots.Forex robots are tools that assist individuals to attain their undertaking of making money on the foreign exchange market. These tools are offered in packages that have been creatively designed. There are various kinds of such robots offered in the market that helps to spin money.There are chiefly two kinds of forex robots: one that only trades a specific currency pairs like EUR/USD such as Forex Megadroid forex trading software. The results are often improved but it can't make many trades. The other type is where there is use of a single forex trading system for all the currencies pairs.

 

[NVP]

Re: Forex Robots

Forex or foreign exchange trading refers to the buying and selling of currencies all over the world and forex robots are a forward step in this work. They can help you to trade easily but you can’t be guaranteed. The profit or a loss depends on how smart they are or their robots.Forex robots are tools that assist individuals to attain their undertaking of making money on the foreign exchange market. These tools are offered in packages that have been creatively designed. There are various kinds of such robots offered in the market that helps to spin money.There are chiefly two kinds of forex robots: one that only trades a specific currency pairs like EUR/USD such as Forex Megadroid forex trading software. The results are often improved but it can't make many trades. The other type is where there is use of a single forex trading system for all the currencies pairs.

the markets dynamics help a little as well....no trend=no profits

N

 

[xebectrader]

Cut your losses, and let your profit runs
Invent a strategy that suits your style thats it.
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[simbob]

I use Double Woddy CCI for the daily chart and intraday i trade news (requires fast news provider) and Profx from Forexeasystems.

As other already said, very important is good money management.

Personally i trade with max 0.5% risk per trade and a monthly profit target from 5-6%.

 

[nunrgguy]

I use a four iron

 

[simbob]

My style is event driven.. i watch the news wires like a hawk!.I still use T.A for timing etc but I need a catalyst to pull the trigger.. hardly ever have overnight positions so i can sleep well!

Which broker do you trade with?I traded news in 2007 but then it stopped working because broker started to fight against news trader.

 

[gentrobert]

I here the Forex markets are a scam an the average loss per individual is $5,500. Trade the S&P emini markets.

 

[masterpress]

I here the Forex markets are a scam an the average loss per individual is $5,500. Trade the S&P emini markets.

Maybe indeed

 

[NVP]

Re: The Trader

There are several ways and means to trade profitably. I personally trade breakouts on the 15 minute chart in the direction of the daily and 4 hour market flow. This is what suits my personality. I have friends who trade retracements. We take the same trades, but enter at different points and are still profitable.

At the end of the day its not the strategy that matters. What matters most is the trader and risk management. Try everything, explore everything and find whats suits your personality best.

forexnetworth

back again.....

the crazy thing about trading is that 2 (good) traders can trade opposing methodologies and both make money....

try and get a feel for the different schools of trading and dont jump in to soon....its just like shopping for a new Jacket.....take as much time as it needs to get the right style, colour and most important fit.......also dont be scared to invest a lot of time and effort here in findng it....shortcuts and a sudden belief that you've found the grail lead to (temporary) dead ends normally.....

(Can you guess what Santa Claus and the holy grail have in common ? :whistling )

in making the journey you are always learning about the markets and yourself....read as many trader biographies as you can....this broadens your mind re whos out there and against you......your outlook is not everybody elses remember so dont trade in a vacuum

As an example I am not yet a professional full time trader but want to be (doesnt everyone ?)....over the last 25 years or so I have dabbled at different levels and played with most systems and approaches trying to educate myself as I went.....walked away a few times as it really did seem random and no better than going into a casino....but it wasnt the markets that were screwed up...it was my "poor" perception of the markets and lack of experience in appreciating how they worked (or didnt at times !)...

I'm not saying take 25 years to trade - i'm just saying take as much time as you need...as when you do walk in and finally put your cash on the table...be ready...as you are then are up against the sharpest minds on the planet

good luck !
N

 

[NVP]

Quite right re above.............although you could try Jason Fielder's systems that are brilliant

N

I re-read this.....I am kidding right ? :cheesy:

NVP

 

[NVP]

We're trained from an early age to believe in hard work, and that's something I will be instilling in my two children when they're old enough to understand.

Trading doesn't fall into this category as it's just gambling in most people's minds. However, think about all the time you've speant researching/back testing/analysing.. that's work!
I also find it instructive to look at what some of the (more successful) traders have done. Soros is big on philanthropy, Jim Rogers spent three years travelling the world, Jesse Livermore killed himself. There are all kinds of options..

wow just found this post.....

Never underestimate how your subconcious mind will subvert and sabotage your trading if you come from a family/background where success = studying hard + hard work and applying yourself and smiling at the boss and working the long hours.....etc etc (99.9% of us then ?)

again believe in the time you spend investing in your trading knowledge as the investment that gives you the right to be sucessful in trading and that you are not gambling and just plain lucky.....

my dad lost a lot of money a few years back in the markets as a passive investor trying to provide for his future and family .........so no matter what (few) conversations we had about me still trying to crack the trading arena and break free from the day job - guess what vibes I got from him ! ........and again traders were the anti christs that had spoilt it for the rest of us .....

once you crack the markets its the mind you have to work on re enjoying and sustaining the rewards....and a good network of supportive people that believe in you !

N

 

[meanreversion]

First time I've ever been quoted, wow..

 

[pseudo straddle]

First time I've ever been quoted, wow..

Must be your lucky day! :clap:

 

[barryb]

Hello,

i am new to Forex.

i am just asking if someone knows which is the best trading strategy in Forex.

please if you can reply to my answer

1. Cut your winners and let your losers run.

2. If you lose a trade, so what? Double up next trade.

3. Always trade against the trend.

4. Trade a completely mechanical system, but remember to only take the best signals from that system.

5. If you're still losing after the above steps, go to a seminar solely on trading entries, and buy a computerised system so you don't have to lift a finger. You shouldn't need to spend more than £29.99 on a good one.

 

[Black Swan]

1. Cut your winners and let your losers run.

2. If you lose a trade, so what? Double up next trade.

3. Always trade against the trend.

4. Trade a completely mechanical system, but remember to only take the best signals from that system.

5. If you're still losing after the above steps, go to a seminar solely on trading entries, and buy a computerised system so you don't have to lift a finger. You shouldn't need to spend more than £29.99 on a good one.

Barry, you're my fookin trading hero...

 

[barryb]

Thanks B.S, no doubt i'll be on the receiving end of a lot of anger from traders saying i've revealed the holy grail. But i've got news for them, i don't care, i'm here waiting for them...