What is Your Strategy?

Here is a story about a man who entered the forex market just one year ago. As he tested different types of techniques and styles, he found some to be successful and other not. He found that experienced trader do not share any of their personal trading systems with others with the thought that someone must loose if others are to win.

At this time, he has two strategies. He began with a demo account and used the typical techniques and found the technical analysis to be the easiest to use for him. With this technique, he could use charts and not need to watch the news. He used indicators to make predictions on price movements and all went well withing the demo.  Once trading in the real world, fear caused him not to be able to use his tested techniques.

Like others before him, he tried signal providers to lessen the stress and time he had to spend. He finally found a forex charting software package that gave him the signals he wanted. The hard part for him was to take these signals and use them even if he didn’t agree with them. With his positive income flow working well, he opened a second account where he uses his own trading system with great results.