Which strategy helped you to become profitable?

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?

  • Babypips
  • Btmm
  • Ict
  • Supply & Demand
  • Wyckoff
  • Other, specify.

0 voters

3 Likes

Other (specify)
Learning not to use leverage in my trades.

2 Likes

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

3 Likes

Chris lori

1 Like

I hope it’s okay for me to answer this :sweat_smile: 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. :blush:

2 Likes

I appreciate your answer, but is this not more of a rule instead of a strategy? :stuck_out_tongue_winking_eye:

Good one! I am currently busy with his material.

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 rest my case.

1 Like

If you like to use the ema’s, try out this:

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.

2 Likes

Are you not missing the ‘‘How’’ part?

All in all leverage can be dangerous indeed.

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.

1 Like

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?

I don’t know ,good idea but maybe if the question was what do successful traders feel, is the biggest factor for success . What do you think ?

That is actually a good idea. A good one for a different poll I think. This poll is aimed at the trading strategy.

What ones man’s strategy might be a blessing, to another a total disaster .

2 Likes

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.

For me it was consistency. I focused my efforts on one currency pair one, lot size, one time frame, one profit target. Done.

3 Likes

And you just randomly buy and sell with that thought?

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.

4 Likes

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?