Does forex strategies usually work?

[FOREX.com]

Yes, stratgies do work and will help you. However, its always best practice to rely on a combination of different components to assist you in your trading rather than just one. Along with strategies, its important to understand that market in which you are trading. For instance, if you are trading EUR/USD, its important to understand what's currently affecting this market (inflation), along with studying how its affecting its trend short-term and long-term.

 

[Meztigami]

Of course they don't often work. They work usually as you stated, bu there are some situations when strong strategies become useless. For example, when we face some serious news and events, your strategy is just nothing in this case. Strategies are cted for particular condition on the market and trading style of course. In other cases, strategies mean nothing. So, traders should have at least two strategies, wher one of them is a backup. If we talk about such a situation, then you can be sure that if the primary strategies doesn't work, then it's time to pick the second one. However, it also can be useless.

 

[sebking1986]

even i am trying different strategies on my demo account,..

This is the best thing to do. There are a number of strategies that can work but you have find the one that suits your needs the most in terms of fitting in with your understanding, what you see and crucially your lifestyle.

 

[FriendlyFX]

They will if you stick to the rules of it use proper money management and employ a good RR .
Best to use one that makes sense of the markets not just because its popular or has the latest indicator

 

[Luke_D]

Always, but if you do not formulate the strategy to make it more dynamic, that is, adapting to the changes in the forex, then it will be proven to be ineffective.

 

[forexinmind]

Strategies work. But to make a strategy work, you need to know how to use that strategy. You also need to customize your strategy at times according to different market conditions. But for that you need good understanding of market.

 

[MoveEpic]

Yes they do work only if you will make the strategies according to the ongoing market trends.

 

[Regalm_]

Trading forex profitably requires that you employ a definite strategy. There is no right or wrong way to trade, rather what is important, is for you to determine the one that you will adopt. Sometimes, you'll find out that a trading strategy will work well for a certain currency pair in a specific market condition, while another strategy will work for that same pair in a different set of market conditions.

 

[Akimuro]

It depends on the strategy and how they are implemented in real life. Some of the trading strategies are absolute trash. They just don't work and are unable to bring any consistent and predictable profits. However, there is also another problem. Trading strategy may work but the trader can be too emotional, so that he never actually follows the steps which constitute the strategy. That is why there are many traders who say that 80% of success depends on discipline and psychology. Even if you know how to trade, the question is how you realise all of your plans.
Every trader should have his own trading strategy which was created by himself and customized according to his trading style and perception of trading. Strategy presupposes a certain plan and it is impossible to make decent stable profits if you don't have any plan behind your trading.

 

[fxoday]

All trading strategies need to be implemented good money management and risk management, there are so many tutors who suggested limiting risk to not more than 2% in every plan trading, but most traders maybe they take higher risk and cause a failure.