Is there anything like a best trading strategy?

I wouldn’t suggest this form of trading as suitable for newbies, or anyone with less capital. Isn’t market manipulation even more here?

 

Trading is all about luck. In some cases, strategies may work or not. It is totally depend upon the luck. Sometimes it gives fruitful results, sometimes not.

 

I would second that, I have been exploiting hourly charts with CHF now more than others, also eyeing Asian markets after disregarding EUR and USD temporarily. What are your hot favourites?

 

Thanks for all the reference stuff to learn from. I would also wanna know just one more thing - is mt4 alright for backtesting (what I’m using now) or something like tradingview would be a better option. I want to backtest to as far as 10 years old market data.

 

I rely on python for backtesting and deployment. R is another alternative for backtesting.

I'm not completely familiar with mt4. But I have seen its C-based syntax before. To me, it seems tedious to code in that.

 

I am actually leaning towards this thought.

 

That's a bit of a simplified view I had my first years. Even if we leave aside equity long bias, there are actors that are buying and selling for other reasons than to have "highest return" in your selected time frame. You may effectively be providing such actors with a service (being the best party for them to transact with) and your positive expectancy can be considered the premium you are paid for that service.

Consider for instance dip buying an evening the market tanks 3% and holding until a few days later after it has recovered. In such a case you are warehousing risk some actors don't want.

 

"I am a great believer in luck, and I find the harder I work, the more I have of it."
-- Thomas Jefferson

 

I suggest you take the pipsology course on babypips: learn different strategies and all there is to trading. What pairs to trade, use of leverage, etc.

 

I have used it somewhat because I suppose it works well for less complex stuff, and perhaps that’s the reason why most pro traders don’t use it. I would surely want to scale up, even if it would require taking up some programming courses.