No strategy works accurately all the time. It’s just that all these strategies depend on the previous market conditions to predict the future conditions and it’s quite understandable that you cannot be right every time. However, I have found that the price action strategy works the best for me. It helps me in picking out and trading high probability trading opportunities in the forex market.
to be experienced about price action is really a tough game , need a long time experience with great patience.
I agree, I'm not a scalper but I have always taken in that scalping requires a very large account to make it practical and worthwhile. However, when I advise new traders to stay away from scalping until they are consistently profitable on longer-term time-frames, they tell me that they would love to do this but it demands a huge capital to trade. I have a theory that new traders haven't got a clue what they're talking about.........
When it comes to trading strategy, there isn't a one size fits all approach. One has to work to find their own strategy. Even when you are using a ready made strategy, you should tweak it a little bit in order to make it personal to your needs and goals.
any kind of goal can be useless if there is no money management , so we should develop our money management first of all.
any kind of goal can be useless if there is no money management , so we should develop our money management first of all.
Yes, there are indeed numerous variations on every well known strategy, but the basic strategy for beginners should always be find an obvious well established trend and follow it. What most beginners do is find an obvious well established trend and fade it. Of course, most beginners lose money and never graduate from being a new trader.
There are multiple trading strategies but each trader will have a different preferred trading style and method. Therefore i believe the best trading strategy would be the one that works the best for the said trader. They will also need to measure their trading performance in order to see if there is any need of adjustment in their strategy.
Any strategy can work for you if you know how to handle risks. It’s best to try out different strategies in different market conditions with small amounts to get an idea of how they perform and how well you understand them. It’s better than having a herd mentality.