Creating a trading strategy

[riddick09]

Even we have the short or long term trading, it does not really matter for the time because, usually we are in the trading strategy. However, we should remind ourselves when there is market closing. Then, if suggest about few hours of trading meant of specific strategies.

 

[Markllee30]

In forex trading we are dealing with strategy and not how long each trade can last. I have lots of open position right now and some got TP in matter of few hours but most take days, weeks and even months to get TP. So its useless to limit yourself to 2 to 4 hours only. Unless you are doing scalping.

Thanks for reply, it's very important and profitable time for me because i am doing forex as part time.

 

[indieover]

Yeah one good strategy is not put a time limit in your trading. So just learn to know when you when you should stop trading or close your open positions and when to take profit. But still you would need to have good strategy in the first place so that you would make profit.

 

[riddick09]

Why someone will put time limit? I don't see any benefits when you do that. In fact, we can't simply dictate that in just a month or so, we can be a good trader and we will achieve our goal of profits. It's not like that, it will be like uncertain about success and yet, just like our trading strategy there will be no certainty of its worth.

 

[budado]

Right now I'm comfortable trading using averaging, hedging, scalping and swing strategy. I also do naked trade but this strategy only happen once in a blue moon when the price is just too good to make it a pass. But I focus more in averaging and hedging that's why I'm using more of swap free account than swap account.

 

[indieover]

Yeah it is not easy to use naked trading often times. Usually we would need some other strategies that would be more useful in more difficult situation where it is harder to predict the movement of the price with out any indicator and strategies.

 

[riddick09]

Naked trading strategy would mean either you rely on your own instincts without much help of the indicators or you just focus in the fundamental analysis which is really risky to not have any other basis and just base it in the major movements and effect of the news. Still, this mean that a trader will be a great trader when analyzing those news.

 

[indieover]

It is just risky to use naked trading. But I guess when you have lots of experience that you would get better at it and you would tend to know when it is good to use naked trading. But I don't think it is very useful every time. For me it's not useful yet.

 

[budado]

It is just risky to use naked trading. But I guess when you have lots of experience that you would get better at it and you would tend to know when it is good to use naked trading. But I don't think it is very useful every time. For me it's not useful yet.

My advice is don't trade a strategy that you fully not understand yet. All strategy are risky if we don't know how its works and just assume that we know how it works. Sometimes many newbies and feel know it all traders just going to read the few sentences about a particular strategy and they think they know every thing and they started to use it in real account and when they incur loses they will shout to the world that particular strategy is no good.

 

[indieover]

My advice is don't trade a strategy that you fully not understand yet. All strategy are risky if we don't know how its works and just assume that we know how it works. Sometimes many newbies and feel know it all traders just going to read the few sentences about a particular strategy and they think they know every thing and they started to use it in real account and when they incur loses they will shout to the world that particular strategy is no good.

yeah sometimes i just assume that i know enough already and try to use that strategy but in the end i would lose because i didn't fully grasp how to use that strategy. i may have understood something but i may have missed a lot or few things that affected my trading. so i am trying to relearn things for now.

 

[budado]

yeah sometimes i just assume that i know enough already and try to use that strategy but in the end i would lose because i didn't fully grasp how to use that strategy. i may have understood something but i may have missed a lot or few things that affected my trading. so i am trying to relearn things for now.

Also be careful if you are doing research. Make sure that the site you are reading is not a personal blog. Because sometimes theirs a forex personal blog that is open by some home base blogger who actually don't have trading experience and sometimes they also make some wrong interpretation. That's why its best always to check and counter check. Also its good if we trade a strategy that we want to learn in demo account as we can observe and if theirs some question arises we can do some deep research until we fully understand how that particular strategy works.

 

[sindarin]

Making strategy sometimes a tricky thing, because not all strategies that we use to trade will bring profit to us, especially when market change so fast. and sometimes we get some false information when want to create strategy from blog or forums that we joined or read.

 

[brett.forex]

i cant really tell. but you can ask some forex expert about it. try to ask mario singh.fx news

 

[indieover]

Also be careful if you are doing research. Make sure that the site you are reading is not a personal blog. Because sometimes theirs a forex personal blog that is open by some home base blogger who actually don't have trading experience and sometimes they also make some wrong interpretation. That's why its best always to check and counter check. Also its good if we trade a strategy that we want to learn in demo account as we can observe and if theirs some question arises we can do some deep research until we fully understand how that particular strategy works.

That's true I would often read many advices from different traders who seemed to know a lot but it just confuses because they don't seem to agree on the same thing and that I don't know which one I should follow. That is why I have just stopped reading their advises. So I think I would learn better if I would practice a lot myself.

 

[riddick09]

But don't just get their thoughts to be same but to balance it with your own thinking. Remember, that it will not be same strategy we are need here but what is the best strategy for our own skills. And every trader has it's different skills that will have different strategy, we don't have here to have contradictions which leads us to our losses.

 

[indieover]

Indeed each person is different so that you should not just copy the strategy and also the styles of other traders. But it's also good if we would be able to learn about a strategy of the other traders. So that we would be able to compare which strategy is better for us

 

[budado]

Base on my experience we do sometimes stick to wrong strategy simply because that's what we do first in demo and in real account that some how make us earn money. But then I realize later on that the chance are great that I will going to loss money instead of making money. But even though I know that what I'm doing is wrong I still end up making the same mistake again.

 

[riddick09]

Not a wrong strategy but it's inappropriate for our skills. So, we need to understand and determine which one will be the good one for us. That's why we will not going to find the strategy that will be worthy at first and we need to keep on finding by seeking for new strategy.

 

[budado]

Try to learn as many strategy as you can in demo account and just pick few that you think you like to use. So far so good that I'm really earning good amount of money in here. I do like to see myself become a successful trader. I'm really happy that some how I can end up making something good with my life right now. So I focus on learning forex hoping to become a successful trader.

 

[Forex Optimum]

I agree, everyone should have its own strategy and a clear understanding of the business!