Traders have been in debate to what the very best Forex trading strategies are for years. That debate is likely to continue for many more years to come. What most people that are new to Forex trading want to know’s what’s the best and the way can we establish it because the best. I want to to start with consider what a trading strategy is then look at totally different types and asses them both.
A Forex trading strategy or system is just a set of guidelines a trader will use to enter, exit and adjust his trade. The strategy might consider fundamental analysis, technical analysis or a bit of both. The answer to which is the perfect can’t be decided by simply looking on the outcomes of a strategy however by looking at the trader as well. Psychology is the single biggest concern traders’ face when carrying out a profitable or losing trade. The ability to be able to stick to your own guidelines throughout a dropping or winning trade might be challenging. It’s for this reason many traders will turn to automated trading systems to beat the psychological points they are faced with. Auto trading using EA’s has its benefits but it is a proven proven fact that markets are in reality random which means a strategy working today might not work tomorrow.
What a couple of combination of both?
You may be the best analyst on this planet and still be a terrible trader! How many instances have you taken a trade with all your evaluation in your head then exited early or not taken the trade at all. A common scenario isn’t taking the planned trade because you could not commit then taking a random trade that wasn’t planned and losing. Sounds ridiculous whenever you read that scenario however it occurs each day.
Imagine a system where you may use your own analysis to set up a trade then use a trading system to take over and carry out your settings so you didn’t have the Psychology to deal with. Surely this could be one of the best Forex trading system. The nice news is these trading systems are about but not many people are giving them away. You can however have a program coded for you that takes trades based mostly on your rules and eliminates the psychology. If you have a system that works on a manual basis however only works with certain market conditions then this could be the best Forex trading strategy.
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