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  1. #1

    Default The importance of Forex trading strategy

    Specific trading strategy should be used exactly for a chosen currency pair, for which it is created because it depends on the ratio of the certain currency pair. However, this does not mean that the other currency pair wonít benefit from the chosen strategy, but make sure you analyse the strategy more before applying it on different currency pairs.

    The main task of any Forex trading strategy is to minimize the impact of external factors on the Forex trader and to organize traderís activities. The development of a trading strategy can even be compared with the development of a business plan for a specific project.

    When developing your own trading strategy or improving the old one, it is important to remember these rules:

    • Any trading strategy has a share of subjectivity, it does not guarantee a success and can work also against you;
    • Each Forex trading strategy should be compatible with a traderís style;
    • 95% of trading failures are caused by lack of the psychological stability Ė Forex trading strategy is designed to solve this problem.

    Traders can combine different methods or develop even their own indicators and trading robots, because there is no limit in different variations. now I try to stay consistent to trade with some combination of several indicators that I try to apply in TICKMILL

  2. #2

    Default Re: The importance of Forex trading strategy

    Even a kinder garden kid would know how crucial it is to create plans and methods. It might work trading for few weeks or even months without strategy but for long term success, we definitely need to have a good plan. I don’t have great plan but whatever I have is working pretty well and thanks to OctaFX Company, it is a really outstanding broker with nice small spread of 0.2 pips and also has got ideal backup in shape of rebate cash back scheme, so it’s a treat for every trader here.

  3. #3

    Default Re: The importance of Forex trading strategy

    I think the most important strategy is to have discipline, in this forex we need to have a high discipline for us to be successful in forex trading. Forex is a business that has a lot of risk, so as to be able to make a success then we need to discipline

  4. #4

    Default Re: The importance of Forex trading strategy

    The most basic use of a trading journal is to increase consistency. This is done by detecting errors made on your previous trades and making sure you do not make the same mistakes again. You will want to review each setup and review your rules to make sure that you are following them correctly

  5. #5

    Default Re: The importance of Forex trading strategy

    I trust my money to TICKMILL, they have excellent MT4 platform, user-friendly personal cabinet and fair handling of client orders. Due to STP type of execution of their platofrm they are unable to manipulate with client funds and make market for us. It is primary prerequisite for any broker as playing against you they you soon or later make you go bust.

  6. #6

    Default Re: The importance of Forex trading strategy

    we use a trading strategy that will benefit us if we could get comfortable broker. Trading in the comfortable broker will give us the maximum benefit, for that I choose to trade in instaforex really very comfortable

  7. #7

    Default Re: The importance of Forex trading strategy

    The important of something in life can’t be told as it’s so great and that’s exactly what a good strategy does. It might not be possible for a newbie to understand the impact that strategy creates but once we start getting experience we will know the value of it. I fully understand the importance and that’s why my first priority is to trade with a tight strategy that can make profits for me and also is not risky and to have that I take help from OctaFX broker, it has tiny spread of 0.2 pips, it’s really useful.

  8. #8

    Default Re: The importance of Forex trading strategy

    strategy is very important and as a trader should have the right strategy to obtain maximum results. I get a profit in the forex business using scalping techniques. I opened and closed the trading no more than 2 minutes. I need the speed of execution and low spreads to gain maximum profit. I am now comfortable trading with this system in my broker

  9. #9

    Default Re: The importance of Forex trading strategy

    indispensable trading strategy in forex trading because the trading strategy will allow us to trade with the maximum. Forex is a business that has a high risk so as to be successful then we need a trading strategy that will allow us to trade with a maximum

  10. #10

    Default Re: The importance of Forex trading strategy

    Your ads here $43/month

    Importance of good strategy is very crucial because without that we are never going to be successful. I am extremely pleased to be working with Nova FX broker where they have outstanding options to work with especially with their PAMM account service where I don’t need to do anything at all. I can make solid profits regularly without making any effort, so that’s why I like it so much and using it since last few months without any difficulty or trouble.

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