Create your own trading strategy

[Jason_85]

Hi guys!
What are the main steps for creating a trading strategy? I'm willing to trade using my own strategy, but have no idea how to create it..

 

[ForexVerified]

That is a good question.

First you have to read (a lot about Forex) and sit in front of your charts for hours every trading day. Every time you learn something new you need to try (on a demo account please) how it works. If you feel confident keep what you learned, if not go on to the next tool. After a few months you will get comfortable and reading charts will seem natural. Another integral part of your strategy is money management - you need to make clear how much you are willing to lose on every trade (1-2% is usually accepted), and that is your stop loss; but never lower your stop loss so it would enter your 1-2% risk, lower your lots but keep your stop loss. And finally, there are periods when you will lose. Don't get disappointed - learn from your losses.

You can start reading books from Alexander Elder (good beginner books), Ed Ponsi has some nice stuff, and build on your weaknesses.

 

[Pharaoh]

There's a section in Forex Military School just for building a trading plan. It starts here:

https://www.forexpeacearmy.com/comm...trading-plan-framework-common-thoughts.19248/

 

[roland.shwarx22]

That is a good question.

First you have to read (a lot about Forex) and sit in front of your charts for hours every trading day. Every time you learn something new you need to try (on a demo account please) how it works. If you feel confident keep what you learned, if not go on to the next tool. After a few months you will get comfortable and reading charts will seem natural. Another integral part of your strategy is money management - you need to make clear how much you are willing to lose on every trade (1-2% is usually accepted), and that is your stop loss; but never lower your stop loss so it would enter your 1-2% risk, lower your lots but keep your stop loss. And finally, there are periods when you will lose. Don't get disappointed - learn from your losses.

You can start reading books from Alexander Elder (good beginner books), Ed Ponsi has some nice stuff, and build on your weaknesses.

hello , thanks for the valid information , also you can mentioned training on demo account to help traders for accurate trades .

 

[josee]

i usually trade with no strategy lol, but its time to build one

 

[Aaron Dias]

hello , thanks for the valid information , also you can mentioned training on demo account to help traders for accurate trades .

I have made good use of the Demo trading accounts and due to the fact that in my Demo trades i was able to learn trading now what i can say is that i am a profitable Forex trader.

 

[ForexVerified]

i usually trade with no strategy lol, but its time to build one

How did it go so far?

 

[Jason_85]

That is a good question.

First you have to read (a lot about Forex) and sit in front of your charts for hours every trading day. Every time you learn something new you need to try (on a demo account please) how it works. If you feel confident keep what you learned, if not go on to the next tool. After a few months you will get comfortable and reading charts will seem natural. Another integral part of your strategy is money management - you need to make clear how much you are willing to lose on every trade (1-2% is usually accepted), and that is your stop loss; but never lower your stop loss so it would enter your 1-2% risk, lower your lots but keep your stop loss. And finally, there are periods when you will lose. Don't get disappointed - learn from your losses.

You can start reading books from Alexander Elder (good beginner books), Ed Ponsi has some nice stuff, and build on your weaknesses.

Appreciate your help.

 

[Jason_85]

i usually trade with no strategy lol, but its time to build one

lol

 

[Aaron Dias]

How did it go so far?

Trading strategy has and will continue to play a Vital role in our future and we have to actually understand about this