Behind Every Trading Genius Stands a Brilliant Strategy
So, you decided to trade and you are wondering how to make the most out of your money in the smartest way possible. Well, things can get a little complicated as the initial instinct of the majority of traders is to spend a lot of money seeking that illusive strategy that would cause miraculous wonders to their account. Often times than not, it doesn't quite work that way, and one should try to craft his own strategy by himself. The reason is that we are all unique, with different patterns and behaviors so inevitably- we all need different things in order to succeed.
Building a strategy can be great fun if you put a bit of effort and creativity in it. The First step is to decide what your trading style is. Time frames are decided based upon a trading style (day trader, swing trader, investor etc) so you need to ask yourself: how often will you trade? minutes? days? months? All these things can change the strategy you will need.
The second step is to access charts with the proper time frame you're interested in. after that you will have to have an old fashioned note pad (or a tablet if you insist…) where you can write down all your ideas. One of those ideas will probably turn into a strategy which can later be “visually backtested“.
The third thing you will need to decide is what market are you interested in: Forex, commodities, futures?
Have you made a strategy yet?
We invite you to challenge yourself and boost your potential for great profits!
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