Prepare the strategy before trading

[selena1]

Preparing a strategy is the first task of a trader in the financial markets, but it should be noted that strategies vary greatly among traders, and we cannot determine that there is one best strategy for all traders. Rather, there are many strategies and diverse methods that traders use in the financial markets, and each trader uses the strategy that suits his abilities and skills. Additionally, there are gains and losses, and we cannot find a perfect strategy without any flaws or problems, as the strategy must contain advantages and also some drawbacks that the trader tries to address.

The trader must prepare a strategy that includes a set of very strong trading methods and also includes a diverse set of analysis, whether technical, fundamental, or classical. The trader must rely on all these types of analysis to reach a good and strong strategy that includes a strong set of trading methods that can be relied upon in identifying market movements and the general direction of the markets.
Furthermore, the trader must continually evaluate the strategy, so that he can identify the strengths and weaknesses and continuously try to address the weaknesses to ensure achieving positive results with a high percentage within the trading field. In my opinion, a successful strategy is one that sets its goals and determines them with precision and care, and the success of this strategy is confirmed by achieving these goals.

The success of the strategy is also completed by possessing strong capital management, as strong capital management is what helps the success of this strategy, and capital management elements are diverse, and the trader needs to study them to be able to achieve success and achieve the maximum possible success, as not having capital management leads to the failure of the strategy.

 

[Ramolak19]

Ok but I think there something that need to be done before trading, it is very important to have a well-defined strategy. This includes setting clear goals and objectives, researching the markets you plan to trade in.

And try to understanding risk management techniques such as stop losses and position sizing, familiarizing yourself with different order types, and developing an exit strategy for when you want to close out your positions

While having a solid trading plan will help ensure that your trades are executed efficiently and effectively and financing strategy is also important because all traders bond to deal with money

 

[selena1]

Any method that leads to profit, you will certainly follow it, and the matter differs between each trader and the other, meaning that there are some traders who follow more than one strategy that they work with and achieve profits and know how to employ these various strategies in achieving profit, and there are some people and traders who use or prefer to use one strategy so that it is not There is a dispersion in the use of strategies, and I personally, if you do not ask me about my opinion, I personally work with one strategy, this strategy is the method of supply and demand and the areas of support and resistance, but I can achieve good profits with it as long as you believe this method or strategy, then I work with it. The use of strategies is up to the trader, but it is preferable to work With one trading method until you reach the stage of mastering the method and are familiar with all the rules of the strategy so that you can work with it and increase the amount of experience and knowledge about it. The strategy helps a lot to predict the future and to form a general rule and a complete ideaRegarding trading and knowing its advantages and disadvantages, switching from one method to another is useless in many stages. You may reach the stage of trying all strategies while you are looking for the greatest benefit from trading, and this matter may waste you a lot of time in research. Therefore, try education and mastering one trading method. It is strong and getting used to it to know its advantages is better than moving between methods every once in a while. I do not think there is a fixed method that works at all times and with all currencies for forex trading. From the lower border of the Bollinger band, and selling from the upper border is subject to profit and loss in the same proportion. Stochastic sometimes finds that there is overbought

 

[Asahi]

Spend your initial time in learning and strategy development so you can trade in real account with a proven strategy. When a trader has the chance of copying others, he never tries to learn the market. Copying others is never a permanent solution for traders. Eurotrader provides signals through an app so new traders can be benefited.