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ForexTools
07-03-2011, 10:42 PM
Too Many Strategies, But Still Frustrated?

It is not too far when the veteran traders got used to draw the trend lines using pencil and paper. Whereas the market data sent by mail to them and there was no computer and a trading desk. Were they really wrong by not using super analytical charting platforms? Were they all losers? I bet they were not only doing great but comparing to my fellow traders (Including me) they were absolutely sophisticated traders. I am not going to undermine anyone as we have legends and hundreds of good traders which actually make money around the globe on daily basis. My finger is merely pointing to those of traders who think that broken accounts is because they don't really have the best strategy to trade safe and secure and at the same time 1 million dollar is a fair enough one year outlook for an 10000 bucks trading account.
Where a trading strategy introduced as a reliable way of making money to traders, there will be some questions to ask, aiming to evaluate the accuracy of the given strategy:


Is it a trend or a range market based strategy?
If it works as a trend based strategy, what the strategy can offer to avoid range market and vice versa for the range market based strategy?
Is it a day trading strategy or planned to signal longer terms trading signals?
If it is an Intraday trading strategy how many hours and when exactly should I sit down and watch the screen?
If it is a long term strategy, what is the estimated possible drawdown in pips?
Is there any historical performance of trading using the given strategy in real accounts and if the answer is "YES" for how long? (don't rely on less than one year)
Are there any money & risk management rules attached especially tested on this particular strategy?
What is the average/highest/lowest risk to award ratio of the past last year trades?
Is there anyone who used the strategy on real account? (Be aware of marketing tactics and ask someone who is honest)
What is the outcome of above mentioned friend trades, is it positive, ok don't trust him not because he is a liar marketer but because no one can fit a common strategy with the same characteristics to everyone. In this case you need to test it by yourself.
Ask the developer about the psychological pressures may come to you while using that strategy on real accounts (We recommend to ask your mentor to analyze the strategy)
Does it have an Exit and Stop Loss rule for different market situations?
Ask the developer if you can get back to him couple of times asking questions about some points that you don't really understand. (don't make it 100 times a week cause he/she won't sell any strategy to you)

However, I know couple of guys who experienced real damages and disappointment where they tried to believe the strategy from the first day. So I am very serious, don't ever try to apply a new strategy on your real account unless you met an expert and he gave you the green light or you just passed one year of continuous testing.
Final Words:
You may ask for how long? One year... it's too much...I can't wait...!! Well then you can try it, but count it as a gamble...You know the gamble...Too many jack pots, nothing Hot Shots.
Let the science make you wealthy step by step, don't ever think you are smarter than any other trader because no one knows what is going to happen next. So it's better to be next to those wise traders who win because they are disciplined and have spent a long time of practice before doing anything real on their money. Try to admit it if you are not sure enough about your ability and try to solve the problems with patience and remember it does worth it if you make a million dollars three or even five years later instead of loosing what you got from hard work within just couple of days.

UMOFX IB
05-12-2013, 02:32 AM
When we try many systems or strategies it really make us confused what to do . Which is good for us. We are double minded.I think one should work on one strategy and test it many times , then he should try for another one . In this way we can adopt appropriate way of trading for us. If you are confused to use any specific strategy you can change or use your own thinking which suits you.

Master Forex IB
10-09-2013, 06:39 AM
I do not make my self confuse to see so many strategies . First adopt one or two and get command on it .If it is not successful then change . If you use many strategies at a time you will really frustrated , All will tell you different things you will not decide what to do in trading.

nanypurwanti
10-12-2013, 02:10 PM
I do not make my self confuse to see so many strategies . First adopt one or two and get command on it .If it is not successful then change . If you use many strategies at a time you will really frustrated , All will tell you different things you will not decide what to do in trading.

I agree with you..
Don't try to adopt many strategies. Just pick up one or two, then if you got one and best for you, Just use it and start making money in forex..

Master Forex IB
12-03-2013, 06:32 AM
yes dear when we are passenger of two many buses we can not find the right way .Here in trading too we have to choose the appropriate way of trading so that our mind will remain concentrated . too may strategies shattered our mind, we wander here and there and find nothing.

UMOFX AIR
03-16-2014, 01:12 PM
Using too many strategies really puzzle trader. It is not necessary to act upon any specific system .with practice a trader is able to know what is better time , trading style and risk using method for him . He can make his own suitable strategy rather than choosing many strategies.

sorafx
07-21-2014, 04:26 PM
Using many strategies will only make you going frustrate.
If you do not able to trade, i recommend you invest your money in pamm of liteforex broker. its good and really fair broker.

trader
07-29-2014, 04:51 AM
i keep my simple stategy with MA. i think we should keep simple. and trade in plan.

danny
08-05-2014, 03:35 PM
yeah. we should make for ourseft a toolkit. it's about 2-3 inicator. i think we can make money with it. this is simple rule for trader.

celcius
08-24-2014, 02:38 PM
Using many strategies will make you more confused and loses in forex trade. But, it will make you more ready preparing making money in forex. The best one is using EA, simple and practice. But you must find proper EA for youself

angga
09-21-2014, 03:42 PM
Using many strategies will make you more confused and loses in forex trade. But, it will make you more ready preparing making money in forex. The best one is using EA, simple and practice. But you must find proper EA for youself

You right sir. Don't use too much strategy. But make many practices, its good for you..

casama
09-24-2014, 03:10 PM
we must make stategy for ourself. because we can understand it stronger than other stategy. i think it is good for all.

pennycruze
01-18-2015, 04:58 PM
we must make stategy for ourself. because we can understand it stronger than other stategy. i think it is good for all.
this my 2nd years with online trading, I need a proper lead with trading plan, trading strategies, money management, etc. I saw many traders post their trading result, with additional encourage words. but what I truly needs is a well built trading strategies, with plan, well define entry strategies. I already had live account with Tickmill ECN account services, and i would gladly to invest this account for any solid trading strategy. this would be my resolute step to make serious business with online forex trading, and I think everyone know what i mean.

fxapex
01-18-2015, 05:04 PM
Its good to have strategies but its also important to understand that when to use such strategies, strategies are formulated according to the market situations.

shade
01-21-2015, 06:52 AM
this my 2nd years with online trading, I need a proper lead with trading plan, trading strategies, money management, etc. I saw many traders post their trading result, with additional encourage words. but what I truly needs is a well built trading strategies, with plan, well define entry strategies. I already had live account with Tickmill ECN account services, and i would gladly to invest this account for any solid trading strategy. this would be my resolute step to make serious business with online forex trading, and I think everyone know what i mean.

Tickmill trading condition are best fit for any trading system, even many scalper suggest their ECN account service. dont bother with any commercial trading product you may found, there's no such profitable trading system are available to buy. most of it limited only among profesional traders, and they will surely keep their trading system for their own benefit. there's no logic reason for selling 20% monthly profit trading system for small 50$ penny!
as for starter, try to write down your trading plan, your current one. and see if there's anything i can do about it.

Ao hao
04-20-2015, 08:56 AM
There are many suggestions and trading lessons now, it's summary from others' experience and lesson. For individuals, it need to distinguish the useful and uselss, such as you are one conservative investor, higher level to seek for huge profit is not very suitable for you.

sorafx
05-24-2015, 06:48 AM
Having many trading strategy will not guarantee to make you success in forex trade. Having many strategy without understanding its way. its useless. it will be more useful have one strategy but you know well how to make it profitable for you..

TigerFX
06-02-2015, 08:24 AM
we must make stategy for ourself. because we can understand it stronger than other stategy. i think it is good for all.

We must use only one strategy, if any trader uses too much of strategies, then how come he will become profitable as all the strategies will make him confuse in the forex market.

orni308
06-13-2015, 01:33 PM
Having strategies is good but you should also know which one to use and one, the timing of the application of strategies is very important, there is no use of a strategy if its not used properly.

HundEr
06-16-2015, 10:44 AM
Many different strategies are useful only if you trade lots of pair. Every pair required its own strategy usually and if you trade successfully with EURUSD using SMA , it doesn't garantee that you will be successful with USDJPY an so on.

Abu Boccor
09-10-2015, 05:47 AM
In this market place, from all trading strategy, I like scalping that brings profit in a short time. Actually, this is considered as a most usable and profitable trading strategy in this market place due to getting profit instantly. in my trading career, I have selected MXTrade trading broker for using this trading strategy in a proper way because of only one pip narrowest trading spread.

HoneyLilly
09-11-2015, 06:28 AM
i always try to buy. I like this strategy. But recently i started doubted if it is ok to use the same strategy all the time...
I also use charts and indicators like below and here is another question: shall use the same or change the indicators?
https://charts.mql5.com/8/803/eurusd-h1-riston-capital-ltd-2.png

vincom
09-17-2015, 07:15 PM
I think why we waste time for researching strategy, why don't we invest to PAMM or Zulutra account? Is it a wise investment? We surely get trading profit shares but it's still better if we try by ourselves and lost.

HoneyLilly
09-18-2015, 10:51 AM
for those who waste, I wud say better)))

vic84
09-18-2015, 02:23 PM
Its good to have some strategies but just working on too many strategy could be a bit frustrating and waste of time.

Abu Boccor
09-21-2015, 07:10 AM
As a newcomer, I have to depend on my scalping strategy. But, some days ago, I have made huge loss due to having very fast trading spread when, I tried it. Then, I have decided to trade in Mxtrade where I am getting very narrowest trading spread which is very supportive to apply any kinds of trading policy specially the scalping. Now, I have overcome my loss project by using my scalping strategy.

tuster
10-27-2015, 09:41 AM
That's right, most importantly, is to analyze your forex broker. Cause everyone remembers sudden SCAM such as MMSIS and dive.

Abu Boccor
11-03-2015, 09:00 AM
I am not at all. I am extremely satisfied on my trading strategy scalping that?s brings profit in a short time. Due to getting profit instantly, from my first day of trading I have using this short time trading policy. And, for using this trading policy in a proper way, I have selected MXTrade trading broker which at all times make sure best trading environment for scalping by providing only one pip narrowest trading spread.

Annette Ashley
03-14-2016, 06:55 PM
I think the biggest issue is that too many strategies are there without having touch ups, so if we want to gain benefit from any strategy than we need to practice it well and only than it will give rewards. I am currently working with OctaFX broker with whom I am able to enjoy everything easily given they have epic demo contest especially the latest offering which is Southampton Supreme where there are unlimited prizes to be won for us.

Abu Boccor
05-25-2016, 08:24 AM
In my trading career, from my first day of trading I have been using scalping strategy that brings profit in a short time and that is like most high action thriller movies which can keep you on the edge of your seat. By the way, for using this trading approach in a proper way, my great choice was MXTrade broker which is regulated and for all time make sure best trading environment for scalping by providing lowest trading spreads.

William Wesson
02-28-2020, 04:12 PM
A broker should have the essential infrastructure with good and strong man power to ensure good services to their traders. Recently I have visited the office of ForexChief. I can say that they have well infrastructure as well as good and amazing features with experienced and highly trained professional helper. It really feels that they are the best. So I choose it as my broker for forex market as well. If I need any information and suggestion, I communicate with them. As they give me right and important news that I ask. This is important to have a good feedback from reliable broker.

Ashley Mallett
03-04-2020, 12:40 PM
For successful forex trading it is very much important to make the profit consistently and reducing the loss as much as possible. Making profit is the main motto of every trader. As a trader, I am trading with TP Global FX. I choose them because they help me to do successful forex trading. By giving low spreads, high leverage, 24X5 customer support and easy trading methods, they help me to make profit consistently.