Does forex strategies usually work?

[juan_01]

if the strategy doesnt work how then traders trade and get profits???

 

[fxoday]

Correctly explained. its good to get honest answers which actually reflect experience and testing. I generally follow chart patterns as my strategy but its not like i will blindly follow a chart it it says that this is the entry point this is the exit etc etc, Apart from this you need to have an in-depth analysis only then my patterns strategy will work.

I like the chart pattern too, in my opinion, this is a simple way to analyze the market pattern, sometimes I use indicator but in practice, my concern is more to analyze by chart pattern, indeed not always perfect, but I like it

 

[Deleted member 239525]

As a new trader you should focus on learning how to read the markets. Strategies even ones that ARE profitable will not be profitable for you because you will change things, tweak things, miss things, make emotional decisions that sabotage the strategy. Every new player looks for strategies and 90% of traders lose money and are not profitable. So don't do or chase what the majority do and you will succeed.

Trading is about following and developing a process. Its process over outcome. Focus on the process and results will follow. Strategy is the last thing you should be thinking about.

You need to find out what sort of trader you are, you need to develop the skill and understanding reading price and market (or news/geopolitics etc if you want to be a fundamental trader) you need to have a good understanding and a knowledge of basic rules, what is a trend, the rules how you define a trend (IF/THEN syntax) and many more things I am not going to write, once you have all this in place, then you learn basic money management and risk management, Only then do you develop a rule set of what you want to trade (A strategy) and then you test it to see if it is profitable or not.

So "im new to trading" and looking for a strategy... wrong way around. That is the last thing you should be thinking about.

 

[ele020]

I like the chart pattern too, in my opinion, this is a simple way to analyze the market pattern, sometimes I use indicator but in practice, my concern is more to analyze by chart pattern, indeed not always perfect, but I like it

Yes, when it comes to trading, its the combination of various techniques, knowledge, experience, indicators that works.

 

[Joshevans--]

does forex strategies usually work or it is just a myth as i am new to trading dont know much about strategies can anyone tell me or make me learn these strategies

Thanks in advance.

FPA Forums Team Note: This thread is in General Forex Talk, which is a non-commercial area of the forums. If people want to discuss free strategies, this is a very good place to do it. If anyone wants to discuss which commercial strategies (including "free" ones available through social trading), please open a thread in Forex Company Comparisons. Enforced by Spam Cat.

Any strategy can work if you put your mind to it. Just keep back testing and see what works for you.

 

[richardmarcus1509]

Any strategy can work if you put your mind to it. Just keep back testing and see what works for you.

ok will keep that in mind

 

[fxoday]

Any strategy can work if you put your mind to it. Just keep back testing and see what works for you.

Yes any strategy can work, but not all strategy suitable for every trader, better choose a strategy that makes comfortable during trades, let say some trader suitable with martingale, but some another might if use this strategy will make tension

 

[Alex Stone]

Some of strategies are working, but there are no 100% guarantees:закатывать глаза:

 

[TareqS]

Forex strategies work. Sometimes they do not work. Then, how do traders make money? It is a game of probability. We need to find out strategies that work at least on 60% occasions. If the risk-reward ratio is 1:1, we still be able to make money by trading. This is what Forex trading is all about.

 

[Alex Stone]

Стратегии форекс работают. Иногда они не работают. Тогда как трейдеры зарабатывают деньги? Это игра вероятностей. Нам нужно найти стратегии, которые работают хотя бы в 60% случаев. Если соотношение риска и прибыли составляет 1: 1, мы все равно сможем зарабатывать деньги на торговле. В этом вся суть торговли на Форекс.

you are right