All forex traders always thinking about how i get the best forex trading strategy or trading system , here i will put some rules if you considered this rules when you are choosing your trading strategy you will make your own ” best forex trading strategy ”
– Never break your trading strategy rules
one of the main points that makes strategy works good and gains profit for one trader and the opposite for other trader is Psychological reasons .
when a trader finds him self in his way to lose a signal trade he destroy his strategy rules and entering random trades for no reason but to retrieve his money back and this is the most reason for losing your money .
– stick with your money management plane
all beginner traders thinking of making millions of dollars from 100 USD , will this is possible but not in one day or month or even a year .
most of traders losing their money because of they didn’t have a money management plane but if you want to continue in forex market you must get a get a MM plane .
– choose the best time to enter the trade
is your trading strategy made for ranging market or trending market because according to your trading strategy type you will choose the best time to trade with it , for example :
in ranging strategies you will trade most times in low volatility market like Asia season .
in trending strategies you will trade most time in high volatility market like America and Europe seasons .
– choose the best price to enter the trade
don’t blame your self for not entering a good trade just don’t worry forex market never ends and you will get another trade , but many traders don’t think like this and what happens is they enter a trade to late so they must but a bigger stoploss and smaller target point which is a wrong equation .
– Let The Profit Cut your Losses
of course you heared those words a lot but no one stick with it , but if you want to make your wallet rising you must trade with it .
always use trailing stop point to let your profit increases and never change your stoploss point thinking the price will not reach it or to delay the losing trade.
after you considering the above rules in your mind then all forex trading strategies can be profitable and gain money the secret is not about the trading strategies it’s about are you Committed to this strategy’s rules .