What strategy actually works? - page 6

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The real “strategy” that works is risk management (small position sizing, stop-loss discipline, and knowing when not to trade).
 
Fawwaz Abdulmantaser Salim Albaker #:

Dear (s),

  I tried too many strategies , all of them works in some time events and not in other , works in several pairs but not with others... so u need to try what suitable for you upon your pair , budget and plans..

for me the scalper (short deal) is the best..


best luck.

Hey man, tks for your opinion.
Btw, may I know the timeframe you used pls?
 

I’ve noticed that one of the “easiest” setups to trade is when the market enters a loop of low price movement during certain times of the day. If the right conditions line up for example, confirming indicators and short-term fundamental context you can often grab a few pips with relatively low risk.

For me, this tends to happen around the same time each day, in the same session, when volatility is low and price isn’t making big moves. It’s nothing flashy, but those small, consistent wins can add up over time.

As the saying goes, do not despise the day of small beginnings.

 

I have been trading almost as long as you. First started looking into trading in 2013, but opened my first demo account in December 2015 and started trading live account in September 2016. I have had mixed results, some months I'm profitable, but then I go through losses. I have lost a lot of money buying useless indicators, courses/strategies and losing a lot of money trading. My risk management is the reason for failure more than anything. And since I started doing propfirm challenges, my trading got worse. My trading psychology took a big hit, now I have given up on trading with prop firms.

These days I have been looking into fundamentals more, there are some fundamental software tools out there available for purchase if you look. Including the weekly COT report from CFTC. It is helpful but not holy grail. At the very least it gives insight into what the institutional traders are looking at for the coming weeks. Its better for swing traders.

 
rafaella #:

I have been trading almost as long as you. First started looking into trading in 2013, but opened my first demo account in December 2015 and started trading live account in September 2016. I have had mixed results, some months I'm profitable, but then I go through losses. I have lost a lot of money buying useless indicators, courses/strategies and losing a lot of money trading. My risk management is the reason for failure more than anything. And since I started doing propfirm challenges, my trading got worse. My trading psychology took a big hit, now I have given up on trading with prop firms.

These days I have been looking into fundamentals more, there are some fundamental software tools out there available for purchase if you look. Including the weekly COT report from CFTC. It is helpful but not holy grail. At the very least it gives insight into what the institutional traders are looking at for the coming weeks. Its better for swing traders.

CME volume and O/I charts and data are good too... and free.

 
There’s no perfect strategy, every approach has strengths and weaknesses. The key is to understand where a system works, where it doesn’t, and to accept that adapting is part of trading.
 
My recommendation for anyone who wants to succeed in trading is this: beyond education, indicators, confirmations, and strategies, the most important factor is psychology and patience. In fact, 70% of success lies in mindset. Respect your strategy and trading style, don’t get caught up in the noise and emotions of candlestick movements, stay focused, and move forward slowly but steadily. (This is especially valuable for those who trade manually.)

Now, regarding how to succeed with EAs and tools:
Many traders talk about finding the so-called “Holy Grail.” But don’t chase that illusion. If there were truly an EA that printed money non-stop for years after its first release, all markets would have collapsed by now.

However, rest assured that there are many excellent and useful EAs developed by serious developers. 

Forget the idea of a “Holy Grail EA.” No EA can print money forever without adjustments. The key is to use EAs that match your trading style and are actively updated by their developers.
This is what makes an EA sustainable over the years.

A good EA may not perform perfectly every single month, but it should deliver overall profitability, without exposing you to extreme risks or large drawdowns.

Over time, with discipline and the right tools, you will either become a professional trader or at least learn how to wisely choose the EAs and tools that work best for you. 
 
I use Elliott Wave theory....it suits for me - entry on first wave, exit on third...it give nice movement of pips and on appropriate level of lots and leverage give me nice money!
 
Asen Dimitrov #:
I use Elliott Wave theory....it suits for me - entry on first wave, exit on third...it give nice movement of pips and on appropriate level of lots and leverage give me nice money!

on what timeframe you use ElliotWave? :)

 

There are elements of trading that are universal to all instruments. What one needs to do is work out the mechanical structure of price movement in a purely technical way.

These days however, there are so many variables to consider. I think about 30% of the markets are now bots, and this brings forth an element of extra chaos to the markets.

You can have the best strategy in the world, and global events can occur at any time. Furthermore, unless you have insider knowledge, you will never know when some massive whale suddenly starts dumping huge positions or loads up seemingly out of nowhere.

As mentioned before, psychology is a key component, as well as consistency and patience.

This is obviously a very large subject, and I am only mentioning a few points here.

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