Welcome traders. Going around Babypips you will find a variety of opinions on which strategy or mentor is the best for you to become profitable. I made this poll for the profitable traders out there. Please fill in honestly as this will help the community to get closer to their goal. I have put here the forex strategies I am most familiar with. If you got any feedback to improve this poll, feel free to let me know.
Which strategy/platform made you into a profitable trader?
Completely agree. When I blew 2 accounts, I got the trade directions right, but the high leverage meant the chippings wiped it out and didn’t have time to run
I hope it’s okay for me to answer this but I feel like I’ve been doing good for a part-time trader. I currently use moving averages (20, 50, 200) in my trading strategy, and it might not have originated here, but I found it here.
It depends on your definition of a strategy. My definition comes from project management methodology.
Strategy is a what and a why.
What? I trade without leverage.
Why? Because i used to trade with leverage and I could never demonstrate a permanent positive edge.
I used to play around with this a lot. When price wicks against these ema’s and it happend at a strong area of value ( supply & demand, order blocks, highs/lows, etc. ), it can give you a good trade.
No, the “how” belongs in the plan you create to make the strategy happen.
A plan without a strategy has no beginning and no end. A strategy without a plan is a dreamer’s paradise.
That is why they invented project managers - to get stuff done that others can’t.
The plan includes the what, when, who and how. I’ve been at this for over 30 years. I can’t remember the last time anyone disagreed with this oh-so-simple approach.
Of course. From a project management perspective that is true. However how would you define your strategy as in the steps you take and the view you have of the market? Do you use a specific indicator or pure price action? If you trade pure price action, do trade it backed by big money flow, support/resistance, etc. Does it make sense?
Better to know which strategies produce profitable traders than to stay with a strategy that gives no consistent profitable results. Psychology and personality can be a factor, but a strategy works or does not work.
So you want me to outline my entire strategy here? lol. What I can post are the actual results. After I had 70 straight wins without any loss in one month I have now stopped counting. Someone once said when trading begins to get boring you are getting there. Go figure.
I am not asking for your strategy lol. I mean is it based on support/resistance, harmonic patterns, institutional trading, btmm or some other strategy there is out there?