Creating a trading strategy

[Decub]

As you have opined, trading strategy should always be an outcome of a trader's personal experience. It should never be copied. If so, in case of a loss there is no possibility to assess the reason for the same. Only when a trader develops by himself, an all inclusive system that clearly defines entry, exit, stop loss and take profit price, there is a possibility to fix errors or fine tune the same. The development of trading strategy begins after having a reasonable trading experience on a demo account. This would allow us to understand where we need to enter or exit in a fast moving market. By adding sufficient risk and money management components, a strategy can be perfectly fixed.

Sure, you only can find it easy to correct that which you created. It is easier and readily accessible to use another person's strategy but when it becomes faulty or needs some amendments, where then will the trader run to for a correction, probably copy another one, no, it doesn't make a good trader.

 

[Pettyeve]

@Decub I agree with you. If a trader create a trading strategy or system by himself, he or she will be able to correct it when there is a mistake. Borrowing a trading strategy will be hard to correct when there is problem or when it is not making money aagain.

 

[Nezami]

According to our trading experience, we the traders actually select our trading strategies. Basically we the traders have to choose the broker which does not restrict any kinds of trading techniques with scalping and hedging. Nowadays, in spite of a profitable trading approach scalping cannot use in a regulated trading broker due to many restrictions. So, we have to be careful when choosing a broker.

 

[sininfinity]

Whatever system one chooses they have to make sure that they make the strategy their own and can bring positive pips. Otherwise a good system can also lose money.

 

[Fx Master]

According to our trading strategy we the traders select our trading strategies. From my first day of trading I have been using scalping trading strategy that brings profit in a short time. Actually scalping can be really profitable, if you have flexible trading spreads. But in spite of a profitable trading policy scalping cannot use in a regulated trading broker.

 

[kxforexmart]

Each and every traders have to develop the strategy to perform better and for that one have to gain the experience and can handle the skill so that pips profit can be maintained.

 

[Xamin]

Where i can find good forex strategies?

 

[Pill Head]

Yeah, that's the way to become successful trader. We need to learn to about how to create the strategy, to become a professional trader.

 

[kxforexmart]

Developing a proper trading strategy is a matter of experience and knowledge of the traders and like that we can make a good trading career here

 

[Pill Head]

Forex Trading is quite risky, and if you don't learn about modifying and creating strategies, then we cannot survive in the long run.

 

[Andrew McCalam]

The trading strategies we select according to our trading experience actually in Fx trading. But we have to make sure to choose the broker that is more appropriate to the concept of trading that will be used; if you love scalping should choose the broker that allows trading concept such as this. Actually nowadays in spite of a profitable trading policy scalping cannot use in a regulated trading broker.

 

[Pill Head]

We can also modify the trading strategies, we can try and when we lose, we can figure it out what was our mistakes and than correct it.

 

[Haffizz]

I see that there's lots of philosophy here
So, I'll share some really useful tips with you. Use indicators (I usually look at macd), find support and resistance levels. You can also use Price action as I do. Such patterns will help you to find the entry and exit points into the market.
Also note your risk management (be careful and don't risk more than 2% of your whole capital)

 

[kxforexmart]

If we can create a trading strategy we can easily handle the trading field as per the situation and like that we can make a good success rate here

 

[Pill Head]

Creating a new strategy can be a difficult task, but you always can modify them, that is bit easy.

 

[Glenn Phillips]

If you are a novice trader then start with fundamental analysis! As, news trading is information based trading, then gradually you need to add technical aspects in your trading chart! Frankly, making a profitable trading strategy is not any automatic process, it’s long time journey! Keep updating your trading strategy based on your live trading performance and use a trading journal for better judgment!

 

[sininfinity]

If you are a novice trader then start with fundamental analysis! As, news trading is information based trading, then gradually you need to add technical aspects in your trading chart! Frankly, making a profitable trading strategy is not any automatic process, it’s long time journey! Keep updating your trading strategy based on your live trading performance and use a trading journal for better judgment!

From my point of view news trading would not be a good thing for newcomers. Anyone can disagree with me but for newbies working with indicators gives them better understanding of where price might go. They will struggle but they will learn.

 

[Haffizz]

From my point of view news trading would not be a good thing for newcomers. Anyone can disagree with me but for newbies working with indicators gives them better understanding of where price might go. They will struggle but they will learn.

I'd even confess that news can be a disaster for experts, bot only newbies..

 

[sininfinity]

News especially high impact sometime make price being randomly, and might if trading based on technical analysis hence usually will facing with failure because not suit with signal by indicator, and here however risk management is important to kept on implementation

During news time those spikes, flactuations, slippages will make a new and sometimes even experienced traders confused. And it is not uncommon that new traders face failure and so we suggest them to use demo account so they don't lose money.

 

[kxforexmart]

If we can create a proper trading strategy we can get pips in a proper way for longer period and for that traders have to gain the experience and knowledge with time .