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Best forex market strategy or theory I should use?

  • #41
  • Mar 5, 2015 1:55pm Mar 5, 2015 1:55pm
Quoting moonshot
{quote} In forex trading, we learn from each other, but our aim should not be just to learn from each other. It is good to keep your own philosophy, but also getting ideas from fellow traders can go a long way to providing you with new insights that you could pursue perhaps to diversify your trading strategies. What I know is that there is no single strategy that will always work all the time and sharing ideas with others gives you an opportunity to come up with Plan b/c/d etc.
Yea, but if you will listen to everybody your head will be full of trash. My point was to learn an not to waste your time on every trader who has his strategy. Cause for every trader his strategy is brilliant, and when he lose he starts blaming broker/wife/dog etc. But not himself.
  • #42
  • Mar 5, 2015 2:43pm Mar 5, 2015 2:43pm
Quoting our4link
I am searching for strategy or theory to become professional trader.Can any professional tell me which should i use ??
little tips. make question to ourself "how to be a trader?" then the path and all necessary things to be a trader will open and its our choice to take it or not. if we starting ourself by that and we ready to take all to become a trader, then we will be a trader someday. how long? thats depend to ourself.

do not make question to ourself something like this "how to get money with simple method?" or like this "how to get simple system and strategy?". in my opinion if we make a question to ourself like that than we already lock ourself to become a trader.

hope this tips usefull
we don't predict, we only ride
  • #43
  • Mar 5, 2015 3:02pm Mar 5, 2015 3:02pm
My best advice which I'd give to everyone although most won't listen too is: support and resistance with fundamentals.

Please don't waste your time with lagging indicators, or any for that point. If you know what's happening with the fundamentals of a currency, and then find a good support or resistance level to get in, then you'll have a great start.

Like I said, majority of people will pay no attention to it, but then again the majority of people are losing in forex...
  • #44
  • Mar 5, 2015 3:06pm Mar 5, 2015 3:06pm
Oh, and anyone that tells you people don't tell you a strategy because if too many people use it, it becomes unprofitable, that's nonsense, don't listen to rubbish like that. This market trades at like 5.3 trillion per day, don't be fooled thinking that a successful strategy on forex factory is going to change how this market works if too many people use it.
  • #45
  • Mar 6, 2015 2:14am Mar 6, 2015 2:14am
It will be great to have "the best strategy", which works for every single situation But the reality is that a trader should make his/her own strategy taking into account not only market but also his/her personality.
  • #46
  • Mar 8, 2015 8:17am Mar 8, 2015 8:17am
You're putting the cart before the horse. A traders "strategy" or theory" is only as good as his "discipline" to trade it.

I've written this on other threads and I'll repeat it againg in the hopes that someone will adhere to the principal.
Everyone here (most of you that is) posess a winning system but very few have the discipline to trade it the way you see it each and evey time.Why? Because you can't bare to think that you've made a decision that could possably be incorrect. So you pre-think and change ever so slightly the process and your "theory" or Strategy" goes right out the window...along with your confidence.

Do yourself a favor and look at the chart of your choice in the timeframe of your choice with the indicators of your choice...take notice of one thing that you recognize clearly that occurs over and over again. Now the question is what happens when you believe it will happen but it doesn't and this situation would cause a loss in your trade? The answer is "Nothing" It would just be a loss...the opposite of a win...the other side of trading. If the thing you recognize happens 51% of the time as a winning trade , then you have a winning system. You just need to accept the times it doesn't work and with proper money management you can and will come out with profit.

Untill you overcome yourself, you'll never overcome the market!
  • #47
  • Mar 8, 2015 8:30am Mar 8, 2015 8:30am
Quoting SamuelKott
It will be great to have "the best strategy", which works for every single situation But the reality is that a trader should make his/her own strategy taking into account not only market but also his/her personality.
we don't predict, we only ride
  • #48
  • Mar 8, 2015 8:31am Mar 8, 2015 8:31am
Quoting tcnj
You're putting the cart before the horse. A traders "strategy" or theory" is only as good as his "discipline" to trade it. I've written this on other threads and I'll repeat it againg in the hopes that someone will adhere to the principal. Everyone here (most of you that is) posess a winning system but very few have the discipline to trade it the way you see it each and evey time.Why? Because you can't bare to think that you've made a decision that could possably be incorrect. So you pre-think and change ever so slightly the process and your "theory"...
we don't predict, we only ride
  • #49
  • Mar 13, 2015 8:23am Mar 13, 2015 8:23am
Quoting our4link
I am searching for strategy or theory to become professional trader.Can any professional tell me which should i use ??
The quickest way I believe to become a professional is first of all copying someone who is.
That way you can make money whilst learning.
Once you have learnt the theory and what it takes to become consistently profitable you can work on refining a strategy to fit your style and personality.
Only when confident in your ability should you decide to go it alone.
Be warned though most traders fail because of the knowledge but because of the emotional side of trading. Discipline and patience is generally the biggest flaw.
Good luck!!!
  • #50
  • Mar 15, 2015 10:48am Mar 15, 2015 10:48am
Whatever you end up doing, always keep in mind that trading is a marathon, not a sprint. As such, don't fall in love with any single trade and cut your losers. When the opportunities are there, be decisive and bold. Don't be afraid of trading small to learn the ropes, you will have to see whether you can handle short term volatility, or have deep enough pockets to withstand long term swings - if you are a longer term trader.

Getting the math correct is a good start. ie. Positive R/R reduces the number of times you have to be right - when you do this, you increase the odds of being profitable by doing nothing more than shifting numbers. Once this is done, you can apply some logic and theory to your math. Trading for any length of time in this market will force the correct math on you, as this is a numbers game first and foremost. As others have rightly stated in this thread, once you get "yourself" right, you can adhere to a disciplined approach. Then, no matter what logic you apply, you will have the numbers in your favor to start.

Too many traders start with a strategy, then when they have their chosen strategy, they apply their principal to the strategy. First, get a solid grasp on the math. You have to assess your risk capital, then ask yourself if a certain strategy makes sense, given your financial limits (if any).If the math makes sense, and the strategy will allow you to trade within a defined set of rules, go for it.
  • #51
  • Mar 26, 2015 2:11am Mar 26, 2015 2:11am
No common best market strategy for everyone, but there are still some general adviec about trading: 1. Make good risk management plan, 2. Follow the market trend 3. Try to have a stable and powerful mind
  • #52
  • Mar 31, 2015 3:07am Mar 31, 2015 3:07am
I understand that you need to have time to be a successful trader, but what about if you can not do this full time. Is it beter to use robots?follow other traders? or just a simple stop loss or take profit?
  • #53
  • Apr 2, 2015 3:41am Apr 2, 2015 3:41am
There are no best forex market strategy or theory for individual, the strategy should be best based on different traders, such as low spread and stopless for conservative.
  • #54
  • Apr 2, 2015 11:05pm Apr 2, 2015 11:05pm
Quoting our4link
I am searching for strategy or theory to become professional trader.Can any professional tell me which should i use ??
The best way to trade for a Rookie is to use Support and Resistance Strategy.
The market stays within a range 80% of the time and trends only 20% of the time.
Therefore buy at the Support and sell at the Resistance.
Place your stop loss 2 pips above or below the Support and Resistance.
Depending upon the range you may set your Take Profit levels.

John
Winning is a Great Feeling!
  • #55
  • Apr 3, 2015 11:31am Apr 3, 2015 11:31am
Quoting Mingary
Best strategy: don't lose your money.
"Most people ignore probabilities and exaggerate risk." - Ralph Wagner

Risk management is so easy a monkey could do it and knowing how to manage risk will not make you profitable. It will make you lose less of your money when you do lose.

Find a strategy that gives you actual odds, statistics or probabilities of the market. A good starting point is time and price frequency distribution.

Also I agree 100% with what jake is saying about people having this idea that if they share their strategy it will no longer work. The forex market was not created for speculation alone and will never be used as that. MOST of the 5.3 Trillion its trading every day is for day to day business. Companies need to move money around to pay employees, export/import supplies, etc. No one cares about your "ultimate strategy" and what direction it says the market is going when they have 100,000 employees over seas who need a pay check or they need to import $10,000,000 of supplies from another country... so to all the people who think this way, get over your self... Unless you are trading with a trillion dollar account of coarse

The reason the Turtle Trading method stopped working is not because the systems rules were revealed, its because market conditions have drastically changed since then because of computer trading and then HFT trading... It had nothing to do with the system itself.

sis.
  • #56
  • Last Post: Apr 3, 2015 12:49pm Apr 3, 2015 12:49pm
Quoting Sis.yphus
{quote} "Most people ignore probabilities and exaggerate risk." - Ralph Wagner Risk management is so easy a monkey could do it and knowing how to manage risk will not make you profitable. It will make you lose less of your money when you do lose. Find a strategy that gives you actual odds, statistics or probabilities of the market. A good starting point is time and price frequency distribution. Also I agree 100% with what jake is saying about people having this idea that if they share their strategy it will no longer work. The forex market was not...

"MOST of the 5.3 Trillion its trading every day is for day to day business"

Indeed, retail spot forex only accounts for about 180 million per day
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