Which is the best forex strategy?

[jonahelen527]

If I had to mention just one strategy, it would be scalping. It's profitable and time-saving. If you are experienced, you may not even need to analyse the market. By just looking at the market, you can tell which direction it will move in and make your trades accordingly.

 

[Jasonn]

Any strategy can work for you depending on how well you do it. So, practice different strategies until you are sure about the one you wish to use for the long term. And why just one strategy, you can use as many strategies as you wish to use.

 

[tomorton]

For the question of which is the best strategy, the answer must be aimed at a new trader who is not yet profitable. Everyone else already has a working profitable strategy and very few will be wishing to dump a good strategy for one they're not familiar with.

So for a new trader, what are the characteristics of a suitable strategy?

• simple to learn
• has clear understandable rules
• responds appropriately to unsuitable market conditions
• gives clear instructions to the trader on what to do at each point
• uses objective chart features
• adequately manages capital risk

For me also, a win rate better than 50%.

A nice bonus feature would be if the strategy can respond to unusually positive market conditions to allow extra profits to be generated.

 

[TradeLikeAMachine]

I am curious to know which is the best forex strategy for a beginner in this profitable business?

My primary piece of advice is to keep things really simple. As soon as your strategy becomes too complex it will be difficult to understand what is working well when the profits come in, and what is not working when you inevitably have bad loss-making periods. I also agree with some other comments about trend following as a start. However, do not restrict yourself to long-only, but consider shorting when appropriate in line with the prevailing trend.

 

[NVP]

If I had to mention just one strategy, it would be scalping. It's profitable and time-saving. If you are experienced, you may not even need to analyse the market. By just looking at the market, you can tell which direction it will move in and make your trades accordingly.

agreed

 

[NVP]

Any strategy can work for you depending on how well you do it. So, practice different strategies until you are sure about the one you wish to use for the long term. And why just one strategy, you can use as many strategies as you wish to use.

agreed ..you have to SPECIALISE ....in anything you do to become the best

 

[NVP]

For the question of which is the best strategy, the answer must be aimed at a new trader who is not yet profitable. Everyone else already has a working profitable strategy and very few will be wishing to dump a good strategy for one they're not familiar with.

So for a new trader, what are the characteristics of a suitable strategy?

• simple to learn
• has clear understandable rules
• responds appropriately to unsuitable market conditions
• gives clear instructions to the trader on what to do at each point
• uses objective chart features
• adequately manages capital risk

For me also, a win rate better than 50%.

A nice bonus feature would be if the strategy can respond to unusually positive market conditions to allow extra profits to be generated.

amen tom

 

[NVP]

My primary piece of advice is to keep things really simple. As soon as your strategy becomes too complex it will be difficult to understand what is working well when the profits come in, and what is not working when you inevitably have bad loss-making periods. I also agree with some other comments about trend following as a start. However, do not restrict yourself to long-only, but consider shorting when appropriate in line with the prevailing trend.

my only caveat is if you need to make it complicated then automate that element .....semi automated systems work well ...you apply the human discretionary side then

 

[FxPipser]

Best strategy - is the strategy the rules you learned and follow totally at 100% for make no mistakes when you psihology dies during manual trading and nerves... this is why most of traders choose Semi-Automated Strategies that do 90% of all job in MT4 (follow rules - not let you put bigger lot , always place SL ... )

 

[andrewborund597]

Yea! Scalping is highly profitable but very risky. Scalping should be done very carefully and avoided by traders who do not have in-depth knowledge and quick decision making.

 

[rickhobbsonce]

No strategy is "best." They are small edges in the market that may or may not work aways. The forex market is volatile and keeps moving, making it challenging for traders to become profitable with one strategy.

 

[ackleselden]

If I had to mention just one strategy, it would be scalping. It's profitable and time-saving. If you are experienced, you may not even need to analyse the market. By just looking at the market, you can tell which direction it will move in and make your trades accordingly.

True! Scalping is indeed a profitable strategy, but also a risky one. I would not suggest it to the beginners.

 

[AriaS]

Scalping is one of the most popular Forex strategy.

Scalping is a broad name of countless different strategies

 

[Gracy2]

Any strategy can work for you depending on how well you do it. So, practice different strategies until you are sure about the one you wish to use for the long term. And why just one strategy, you can use as many strategies as you wish to use.

Yes, I agree that anything without having deep knowledge in trading can be risky and one should never chase the market for trades. If you have a losing streak, take a break and let your emotions cool down. Deep understanding and patience is needed for trading.

 

[Jorg@33]

Choose your own trading strategy by finding a preferred time frame, the desired position size and the number of trades you are looking to open.

 

[PhoneticNachos]

Just ignore anything from people claiming anything from ICT, and all the brainwashed cult sheeple who try to convince bigger fools through their rebranding nonsense called laughably "SMC/ smart money concepts".

Really most "gurus" on social media are scammers in some way or another. If they could really trade they wouldn't be selling courses/signals etc.

Learn price action trading. Keep it simple. Read the book Naked Forex, and Trading In the Zone to start. Go through the free babypips course.

 

[lucreceross]

Best trading strategy is the one that suits you. Like I prefer scalping it goes with my trading style.

 

[nunrgguy]

If I had to mention just one strategy, it would be scalping. It's profitable and time-saving. If you are experienced, you may not even need to analyse the market. By just looking at the market, you can tell which direction it will move in and make your trades accordingly.

Scalping is a pile of cr@pp, ongoing costs will wipe you out.

 

[Zerologic]

All beginners definitely want to find a profitable trading strategy, but sometimes they have weaknesses in trading, when faced with a small profit, they suddenly cut profits too early because they are worried that the price will reverse, but when faced with floating losses, they allow the losses to get bigger because they hope the price will go back to the initial track. In the beginning of trading beginners may face more mistakes, but as time goes by, learning from mistakes can improve trading skills.

 

[Toby21]

I’d say trend-following is the way to go. Just trade in the direction the market’s moving and ride the wave!