The best forex trading strategy ever is a strategy that you are able to create for yourself. Most people will copy a specific strategy or incorporate other strategies they may have read in forums, books, and articles, however the best strategy is the one your able to create for yourself. Well how do you create a strategy for yourself? You basically follow the current trends and use your experiences as a trader to create a winning and profitable strategy.
This is not to confuse anyone. However I find the best way to create a strategy for yourself is to first come up with ways to make accurate trades. You see most of the successful traders will have one strategy they use to make consistent money. When you are just starting out I encourage you to come up with one profitable strategy on your own. Most people keep falling short of this and wonder why they may not be good enough to succeed at trading forex like the winners do.
Once your winning and a profitable strategy has been established your then able to come up with the best forex trading strategy ever. Which is being able to mix and match different profitable strategies and come up with your own. Why? Because your experienced enough to understand how the market works and are now ready to take your trading to a new level. Your one profitable trading strategy is safe but your not making the type of money that is life changing. And to be honest trading the same strategy can get boring.
Becoming a wealthy trader by coming up with the best forex trading strategy ever is not hard to do. Some people are just afraid to take that chance. I wish I could outline the trade strategy for you however I used automatic programs, charts, indicators, online resources and books to come up with mine. Most importantly I took the time to learn and came up with a basic strategy that involved reading the support and resistence levels on the charts. Obviously I did not win all the time however I felt safe by testing the history of the chart and currency pair I was trading in before making the actual trade. Then I would make small profits and exit the trades. I made consistent money by studying as many charts and currency pairs as I could and entered buy stop and sell stop trades to make consistent and winning profits.
I was happy at winning do not get me wrong. I just continued to learn. A strategy I used was learning about every indicator I could. I just used online resources to search out each indicator for forex, which is a lot, and read about them and studied the charts in real time as well. Obviously I learned the charts are not consistent all the time. I would mix and match them (not a recommended strategy by most) and test the theories with the charts history along with my little winning strategy and just started to learn how the market reacted both in real time and its history.
Another strategy I would use would be to just watch the market. I would virtually make a trade however I would not make the actual trade and then see how the trade worked out.
I would also incorporate computer programs to help with the time it took to research and put together various charts manually. Eventually my profits increased and continued to learn. After 8 years of trading I am still learning and patiently incorporating a new strategy into my every day trading. I still experience losses and get surprised every now and then but those are minimal compared to when I first started to trade.
This is why I truly believe the best forex trading strategy ever is to create your own. I do not believe you can create your own without learning one consistent profitable strategy first. It takes a while to learn just one strategy and I wish I could be the one to give you that one winning profitable strategy. The markets change all the time and it takes work to learn. You also have to develop a strategy that is right for you depending on how much time you have to invest as well as a style that fits your personality.