Create your own trading strategy

[EURUSD]

Scalping really is a fast way of earning in trading in less time .It should be tried after experience and good analysis other wise in wrong analysis traders loose their money . Trading itself is uncertain and scalping is more risky in it. because traders choose quick market for scalping.

Now already some trader created scalping robot based on hedging strategy to manage the risk might as trader can trying use ea because more discipline without emotion, might manual trading scalping causing stress for beginner

 

[Franc]

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.

Thanks alot for sharing such a valuable information. I believe creating a strategy is not the issue, the issue is to stick to the strategy after creating!

 

[enzotrader]

hello
Please guide me when i run my demo account i earn high profit but when i run my

real account i loss or little profit how can i earn high profit on real account.

 

[Ken Smith]

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..

There are three things you need to create your own strategy. Study, Practice and Study. You have to study a lot. Initially it is best to choose one single pair. Spend time to observe that pair as much as you can. Every pair has Its own characteristics. You will find some unique characteristics of that pair. Study them and test them. It's a trail and error process.

 

[alaska27]

It's really difficult to build a trading strategy from scratch. As a rule traders take the best from the couple of existing strategies and adapt it to their trading style.

 

[Naxramos]

the indicators may be showing the past information, but they do help us to catch the general sight of the market and see the trend of this or that active.

 

[Addam]

It's better to see what other strategies are like and use them to make up your own one. It's also possible to work out something similar on the basis of theoretical books of different kinds.

 

[Nisoro]

The best thing is to create a new strategy on the existing base - on old strategies, which are not used by traders anymore.

 

[alaska27]

Why are you saying so? It's not necessary to use an old strategy noone uses any longer as the basis. You can make a trade plan in the basis of popular strategies as well.

 

[Aubrey Aubrey]

There are lots of trading strategy in forex business. All the strategies are made to make forex life easier. Different trader use different trading strategy according to their trading style. You cannot say this one is better or that one is best. Professional trader make their own trading strategy. It will help you in any trading situation. I also try to apply a combined trading strategy. So, I can survive and make money in any situation.