The Best Forex Trading Strategy to Know

The best forex trading strategy is one that helps the trader match their personality to trading tools and methods that feel safe and good. As far as the average mature, wise trader is concerned, the best forex trading strategy does actually exist. In one variation or another, these wise traders want to have security and realistic expectations. The differences between an 18 year old and a 50 year old trader are enormous. In some ways the young traders tend to think on unrealistic expectations and take more risk. While their curiosity is always good. Whereas the older trader, if wise enough, will have the basic road map for the trading strategy they want. The forex trading business opportunity can be the answer for many of these people. And the best strategy for most of these people is the peculiar strategy of undefined trading. Trading which is based on the daily chart. But it is not defined as neither day trading nor as position trading. The best strategy doesn’t match the exact description of any established strategies. But it does match the profile of the user trader. One doesn’t need to stick to day trading forex live and restrict themselves to intraday trades only. They can have an overnight trade as well, any time it feels right to do so. So the rules are broken every now and then. Critics argue that this is lack of discipline and that mixing two different concepts together is not safe. And critics talk nonsense, there is nothing wrong with overlapping concepts and strategies. Especially those older, wiser traders, are more keen on such ideas, and not willing to just follow a mentor without modifying what they will learn. The younger traders are curious to test new things out, but lack the knowledge.

The Best Forex Trading Strategy is about Personality

You will never find a trader who has long winning history and simply relies on emulating someone’s teachings. The best forex trading strategy is about uniqueness, and personal confidence. And while the advice of the mentors is good, it still contains some flawed ideas. Emulating their ideas, without questioning anything, is not a good idea. The forex market does not exactly follow any chart patterns, and history doesn’t exactly repeat itself on the charts. Each day is unique, and this is a very important fact to keep in mind. Currencies move because of speculation, panic, fear and mean-reverting tendencies. Finally, the wise traders out there take their trading lightly, and keep their research balanced between complacency and over-analyzing. The best strategy is not defined or described by any known, established terms, and breaks many rules. If your strategy plays by all classic trading rules, and is well described by existing, popular terms, then it is not a good strategy! Because there is no enough uniqueness about it. Forex and commodity traders who look at making their trading more unique, knows well about what makes a trader unique. One trades the spot market, while the other trades through CFDs. One trader takes CFD trading further, for the purpose of enhancing some old trading idea. While another trader sticks to basic trading CFD for dummies, and making trading less costly. CFD traders in general are somewhat more curious than other traders, in that they look for what’s unique out there. And many of them use CFDs to lower the risk of classic financial instruments. So the sense of uniqueness is already there for them.