Good money making strategy

Beginner Questions
1

I do not want to end up in the FX grave yard like so many bright eyed newbie’s before me (and some mega surfers).

What is considered to be a good money making strategy in terms of % success over a long period of time?

Thanks so much.

2

[QUOTE=“AK DiS;509112”]I do not want to end up in the FX grave yard like so many bright eyed newbie’s before me (and some mega surfers).

What is considered to be a good money making strategy in terms of % success over a long period of time?

Thanks so much.[/QUOTE]

Pursue every strategy and system on your own… Eventually, if you do quit, you’ll find out what actually works and what doesn’t.

4

Thanks. Do you perhaps know (in terms of %) what defines a profitable strategy? Thank so much.

5

Anything > (0% + Inflation) as long as you can do it consistently.
Consistency is key in Forex. Or at least that’s what the school is teaching me. :cool:

6

Once again, what is the strategy? You have the set of basic knowledge so use them the way it works for you:) Some people a better in “reading” candles, other ones use indicators there are also EA-users. It all depends on available time and your personality.

7

A profitable percent is solely dependent on the strategy, approach to trading, and your own risk management. It depends on how aggressive you and how you trade.

For example.
Let’s say I always aim to take 1:2 risk to reward. I succeed at 7 out of 10 trades- so using $10 as an example- I’m down -$30 but I’ve made $140 from profitable trades giving me a profit of $110 total with a 70% win rate.

On the other hand, let’s say I close my trade out when I feel like the market is getting ready to reverse. I only succeed at 4 out of 10 trades but on those four I took 1:5, 1:6, 1:4, and 1:8. So I’m down -$60 but I made a total of $230 and a profit of $170 with a 40% win rate.

Most figures you are going to run into are like that. They solely depend on you, your trading style, your strategy, and your risk management.

If you want to succeed in forex- risk management is going to be your most important point of study. It is the one thing that binds ALL of us, regardless of strategy and approach.

9

Thanks everybody!

10

Many thing are involved to manage money in trading trader’s style and way of trading timing , his skill and emotional state also play an important role. I think his plan is key to manage risk while he is doing trading . He should plan for all possibilities he has to face.

11

In our trading we will need to look for the ways to minimize our risks and that can only be done when we are aware of them and have to exercise some or the other form of control in our trades :slight_smile:

12

There is so strategies which are good, but we need to be patient and need to work out every corner to make it sharp, but unfortunately most newbies including me are just too impatient. I have already paid heavy price for been impatient and it’s really sad to lose when you know you can easily win with just been slightly more discipline!

13

As I know there are so many newbie are lost there money here in the forex but If we have a good amout of money then we can make a good strategy.

14

Good money making strategy is that when you started new business and keep always in your mind that you have to make profit. You don"t come here to lose money. You just come to take money from hear. that’s why you should know about the business rules of forex. I think its very much important.
thanks.