• The Forex, Binary Options Forum - welcomes you to our Community!

    DigitalCashPalace Forum is dedicated to discussions about Forex, Binary Options, commodities, stocks related.

    Please take a look around, and feel free to .

Importance of trading strategies

For making profit with consistency we the traders have to depend on our trading strategies that we select according to our trading experience, for creating a successful trading strategy we have to make first of all the proper money management policy , otherwise that’s not possible at all to make profit despite of good trading approach .
 
If we want to get maximal result from our trading strategies first of all we have to ensure proper money management. Because in spite of having most powerful trading strategies that’s not possible at all to make profit consistency if you don’t know how to manage money. So, money management is so much important when trading.
 
Whatever, I am comfortable with live market analysis rather than any specific trading strategy or system! Its looks more logical to trade based on current market scenario, actually the movements of Forex market depends on so many parameters, but you can’t define Forex trading by only few technical tools! Yes, now I can earn handsome money during news sessions!
 
according to our trading experience we the traders select our trading style in Fx trading. Basically, Long term trading I think always safe and comfortable but we have to make sure first of all sufficient trading balance for that. My trading career I always like to trade with long term trading, but sometimes I use scalping approach due to getting profit very rapidly.
 
If you want to make profit b y scalping, first of all you have to ensure the lowest trading spreads. devoid of lowest trading spreads that’s not possible at all to make profit by scalping at all in spite of good trading knowledge.
 
A decent trader reliably tries to get profit utilizing strategies that are of a considering ensured. When trading, one all around necessities to overview that paying little regard to how without question one feels about the trade, there are times when the markets don't collaborate. Traders perceive how to trade utilizing the okay systems for information which will get them hacked down returns that are strong. Every trader should learn to make their own strategies.
 
I trade based of my personal trading strategy, it’s a combination of 4 default and 2 custom indicators! So for me, trading preparation means, counting the positions of all of trading indicators according to my strategy! Besides, I also count currency correlation! That’s my preparation!
 
Any kinds of trading strategies can be easy and more profitable, if you know how to manage money in Forex, even though many of us considered scalping as a most easy trading approach that brings profit in a short time.
 
In order to me, Price Action trading strategy doesn’t mean only pattern based trading, like sometimes I need to go with pre-breakout trading setup although pin bar trading setup is available there! So, I prefer PA trading for only manual trading! Yes, which traders have advance PA knowledge, they can earn handsome money here because it’s all about market flow!
 
According to me , By using any kinds of trading strategy you can be profitable , if there is real money mangling plan , otherwise that’s not possible at all to make profit with great consistency despite of having most powerful trading strategy.
 
I see, many traders are trading here with a particular trading strategy or system but I am not! Here I am trading according my technical and news trading experience! I filter my entry points by many ways but I don’t use any tool based trading strategy!
 
Pin bar is really popular but not for beginners, it is especially for the senior traders who are able to predict the real faction of this market with certainly by means of candlestick. According to me , who are able to make profit consistency by using this pin bar trading strategy , only they are professional in Forex.
 
The trading strategy is very important, I see all of the pro traders are making money without any panic because they are trading with a particular trading strategy or system! But it’s not easy to make a profitable trading system or strategy.
 
For making profit with consistency we the traders have to depend on our trading strategies that we select according to our trading experience, for creating a successful trading strategy we have to make first of all the proper money management policy , otherwise that’s not possible at all to make profit despite of good trading approach .
You may see; professional Forex traders are able to recover their losing trades so quickly! Know, how? Because of their trading strategy and plan! They are very committed to their strategy! You can’t stay here for a long time without having a good trading system.
 
There are some trading strategies on forex business but not all trading strategies is easy and profitable, all required practice to finding suitable trading strategies if we can making good profit on trading hence these strategy is good and will profitable

Yes, it takes time to understand the nature of any trading system. Interestingly, I know a trader who makes money by only moving average crossover trading system. Really he is, but this system doesn’t work for me.
 
Ambition is good. However, 10 lot with 100 leverage and without SL is kind of risky. You also did not mention risk/reward ratio which is important.
 
Greed destroys the trading career. Many traders lose their investment due to excessive greed. Trading with long time targets can save you from losses. I target 2000 pips a year. According to Money Management, we can take trading up to this target.
 
It is the responsibility of every trader to develop a trading strategy. If a trader cannot develop a strategy, he will never be able to make a good profit from trading.
 
Forex market offers great opportunity but unfortunately most people can not materialize the opportunity due to lack of knowledge and skills. They treat it just like gambling. As a result they can't make consistent money.
 
Nowadays it’s very difficult to consider a broker as a best broker, because lots of trading brokers are available in retail market place and most of them are found to be scams.
 
Top