in order to determine for yourself such moments yourself, you need to try out more options for strategies and decide which one is best for you, and not for someone else
Which strategy of forex is the best and fully safe?
- Thread starter Finlay-Ar
- Start date
Totally agree!
One should stop interpreting the word "strategy" as the technique to find best market entries (like the one elephant metaphor from @piezoe )
I try to rather think of it like building a bridge: you don't know the direction of the wind, you don't know the amount of vehicles driving on it and you don't know the water heights. But you do know one thing: you need that bridge!
the lower the risk, the more chances you have to work safely but with less profit, so try to work in a way that is convenient for you
There is no "best and fully safe strategy" in forex
you may get the answer 100 by adding 50+50, 10+90, 25+75... and so on
there is no right or wrong here
what is important is that you understand what you do, you take your time and work on charts
Refine, Back-test and Live-test (make sure you trade on a live account or a funded account, that way you learn emotions better)
what works for one person will not work for another person, everyone looks at the market differently
Once you find YOUR edge in the market, You have "the best and the fully safe strategy"
you may get the answer 100 by adding 50+50, 10+90, 25+75... and so on
there is no right or wrong here
what is important is that you understand what you do, you take your time and work on charts
Refine, Back-test and Live-test (make sure you trade on a live account or a funded account, that way you learn emotions better)
what works for one person will not work for another person, everyone looks at the market differently
Once you find YOUR edge in the market, You have "the best and the fully safe strategy"
Scalping is a term used to describe the process of taking small profits in forex frequently. Throughout the day, multiple positions are opened and closed. Alternatively, an algorithm can be used to determine when/where to enter and exit positions based on predefined guidelines. As spreads on the most liquid forex pairs are generally tighter, the short-term nature of the strategy fits well.
This is something that is done more on your preference. For me, I tend to put SL/TP between 1:2 ratio risk rewards while maintaining the money management.
@diabolique That's keeping it safe. The risk reward ratio of 1:2 is pretty decent, I'd say it is a pretty good strategy keeping your risk appetite in mind. But this varies from trader to trader and their strategies. Like for me I prefer a risk to reward ratio of 3:1 , I’m in it for the risk and the reward.
There is nothing completely safe on the markets.
In order to make your account safe from the absolute loss, it is not the trading strategy to pay attention to, but risk and money management. These concepts are of much importance because it depends on how much money you put at risk in order to gain the profits. Trading strategies can be different and all of them have some strong and weak points. In order to understand it you need to backtest the strategies that you want to implement and analyse the results. If you think that trading strategies did a nice job on historical data, you can try them out on your demo account and see whether they can be implemented today. If they are doing well with the contemporary market, then you can start using them trading real money, but never forget about risk and money managment, otherwise, you risk too much. As for trading strategies, you can find lots of them on different forums, where traders are willing to share their trading ideas with the whole community. I believe that this procedure can diversify your trading and save your money.
In order to make your account safe from the absolute loss, it is not the trading strategy to pay attention to, but risk and money management. These concepts are of much importance because it depends on how much money you put at risk in order to gain the profits. Trading strategies can be different and all of them have some strong and weak points. In order to understand it you need to backtest the strategies that you want to implement and analyse the results. If you think that trading strategies did a nice job on historical data, you can try them out on your demo account and see whether they can be implemented today. If they are doing well with the contemporary market, then you can start using them trading real money, but never forget about risk and money managment, otherwise, you risk too much. As for trading strategies, you can find lots of them on different forums, where traders are willing to share their trading ideas with the whole community. I believe that this procedure can diversify your trading and save your money.