Since I was introduced into the world of trading, I’ve come across many trading strategies: manual, custom, automated and semi-automated. They’re available on websites, seminars, and forums and in magazines. Many of them come with high prices or low prices. Some even come free! Sadly, majority of them are worthless, otherwise, majority of traders wouldn’t end up losing their shirts.
However, there are good strategies out there, as evidently used by successful traders. What do you think is the best trading strategy that most traders can use successfully, provided they stick to its rules faithfully?
I think this is a naive question. First you should explain what you understand as “the best” startegy… e.g. one might understand it as a strategy that makes most money with perfect money monegement (counting in stuff like kelly criterion etc) someone else might understand it as a strategy that has the highest EV per trade.
I would say that any strategy that works is the best strategy. So you can start clapping yourt hands, because now you don’t need to find the best strategy anymore… a strategy that simply works is just fine.
There is no BEST strategy per se, but I think there is somewhere out there the best strategy FOR YOU.
Trading can be as easy as playing pure support-resistance or as hard as 30,000 lines of coding expert advisors…
My suggestion, search for YOUR PERSONAL best strategy, backtest it and stick to it as long as its profitable.
Some people use RSI, others Bollinger Bands, others use moving averages or fibonacci levels, it’s all a matter of taste!
Don’t try to copy other peoples’ systems cause they may not be right for your personality.
If there was one single best strategy, there would be no floating markets!
My suggestion, keep it simple cause the entry point you re so eager to perfectly find,
is NOT the most important thing in profitable trading! :o
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Find out what kind of trader you are. Take pip school quiz for starters. Then do what the previous posters told you. Define what is an effective strategy means to you. The narrower the definition the better it is.
At the end of the day, price action rules.
But PA isn’t really a strategy, so you have to study it and determine what works for you. From then you can go ahead and model your strategy.
I think strategies don’t really have “rules”, [I]per se[/I]: rules are more like aspects of tactics rather than strategies, or systems rather than methods, if you want to look at it that way.
I think the kind of system that has a [I]relatively[/I] high chance of being profitable for most of its users who stick faithfully to its rules is probably trading chart structures like 1-2-3 formations and Ross Hooks, because they have a fairly high overall success-rate with sensible use. The great catch, though, is that the kind of traders who typically want and appreciate “rule-driven systems” are those who also believe in “indicators”. But I guess that’s all part of the reason why the overall success-rates are so low.
The best and effective trading strategies is the one that is fit to your style or your personality,
I think trading strategies will reflect the user, There is saying “To know yourselves is half of the battle”,
While entering into trading world as newbies, it always best to browse around strategies and get to know if the strategies will fit to you. Babypips school provide you with guideline to develop your trading strategy, and here in the forum there are lot of trader who share their strategies, remember, all back to yourself, how you want to do it in the market.
well first of all I don’t understand how can the strategy be common to different people. Like OK, you definitely have some basics like graphics, tunnels, candles etc but the combination of these is your own business! There are tons of factors that might have an influence like what time frame you chose or how often you can check your chart or even a size of your account.
