Forex strategy is the way the trader use when he decided whether he should buy or sell a currency pair at certain time. Forex strategy is not a fix formula, it needs a set of analysis on charting tools or based on news event. There are numerous forex strategy that has been introduced but as the trader we cannot say this certain strategy is the best forex strategy for consistent profits or that certain strategy is the best no loss strategy. Because the best forex strategy for you doesn’t mean it is the best strategy for other too.
Every forex strategy that you found online in some extent should be profitable. The problem is whether it suits your need and purpose. So it doesn’t matter what forex strategy you use, if you follow these steps you would get consistent profits from forex trading.
- Forget your money goals. You must be thinking why we should forget the money goals when money is the first reason we go forex trading. There is nothing wrong with money orientation. However if you set your eyes too closely to the money, it is likely you would get too much pressure and as the result you would do overtrade. Instead of focusing on money, it is better if you are focusing on how you learn and develop the best forex strategy for consistent profits and its trading tools, learn the technique, study how condition of the marker and also learn how you can develop your skill on trading.
- Be patient and do not overtrade. The novice trader usually trading too rush in order to make profits fast. They thought every space in the market is the opportunities to trade and that is what we called overtrade. Overtrade has two types, too much and too often. Definition of too much is when trader taking high leverage in order to maximize the profits but they do not understand how the leverage works. While too often means the trader trades in every single opportunities without analyzing first.
- In the trade nobody always wins in the end. Even the professional trader had been lose once in their trading times. The good trader is the one who knows when to close the trade while he is winning and when to surrender while he is losing, yet he already prepared the strategy how to cover the losses. Be discipline is the key of best forex strategy for consistent profits
