The Best Way To Trade.

[vineet]

yes i also think technical and fundamental analysis is very impotent for forex trader. If any trader follow perfectly technical and fundamental analysis he can make money in forex. Forex demand good knowledge.

[TrojanFX]

I think the best way might vary for different traders, because we are different and some says they like to follow fundamentals, some say only technical analysis, so hard to say which one is better. I like to trust more fundamentals, though technical analysis is also good at some points.

[sasa0220]

Ye building your own strategy is very important. It must suite you characteristics. Now i'm trading AUD/USD with out stop-loss or take profit. Since the pair is oscillation between 1 - 1.08 i open position in both directions and wait until get profit

[audio]

There are many strategies right here on this forum, as well as all over the web. Pick one you like, backtest it, then demo it if backtest is sucessful, and go live if demo is successful. You may have to modify the strategy a bit in order for it to suit your trading style and conditions.

[raka999]

The right way to trade is not about the selection of indicators only but it include you daily trade numbers, risk percentage, pips targets, and all the things that have great connections with your results. I think the right way to trade is to place only 2 to 3 orders in a day.

I think, 2-3 trades per day is too much. I only do trade one time every day. with a target of 20 pips. I'll open up again if the open position of the first loss. if trade is the second loss as well, then I'll close metatrader and continue trading the next day.

[twinkling star]

Hi..

The BEST way to trade is YOUR way NO-ONE can tell you how to trade. Some people have DEFINITIVE guidelines, some just go with the flow (trend), in my opinion NOT the best way..

My belief is you have to have a mixture of the 2.
A few examples... I set my trade away, ALWAYS set a stop loss, and Take profit.
Money mangement (again 'YOUR' choice 1/2/3/10% of your balance).
Trailing stop (Your choice). As much as possible monitor your trade, ( there are MANY times I've exited a trade early, but still have a profit ), That is the main objective a profit.

I've also seen a reversal and wipe out a very reasonable profit (without checking). Just remember at the end of the day it is 'YOUR' choice wether it be. EA ,indicator, timeframe ,or some pathetic system you may have purchased off the internet, it's your loss, and your decision to enter the trade.

the best way to trade in my opinion is to use only one or two indicators which gives you the signals and would be easily understandable by you, and always use sl and tp, use always minimum lot size and take a very good attention to fundamental analysis also.

[ShoSho]

The best way to trade is to put stop loss and take profit as that will reduce thee risk in Forex market to its lower limits also trailing stop loss is important in some moments as it will lock the profit with each step or movement of the market.

[muhammadfarooq]

The best way to trade in forex trading , its better to make their trade size small and must concentrate on their trade and read the daily technical news to make the trading more profitable and more effective to be best trader in forex trading business.

[TrojanFX]

you are right i think that the newwbie should know the basics about the forex and the other secrt they will dicover it with the time and they find also the best way to get the good profit for me i think that the convince with the little money can give us make a big one

many ways to be professional trader,you can copy any trader that have been make consistently profit in their trading activity or you can create your own one,but the most important is you must have good psychology trading and can handle your emotion while trading i think.and make more practice to get experienced is good way to be professional trader

[narendra]

you are right i think that the newwbie should know the basics about the forex and the other secrt they will dicover it with the time and they find also the best way to get the good profit for me i think that the convince with the little money can give us make a big one