How i can find best strategy and benifit in forex?

Question

How i can find best strategy and benifit in forex?

Answer 1

It takes a lot of hard word, because, frankly, a lot of very hard-working people want to find the best strategy to success with forex.  If you are willing to study the fundamentals, I am sure you can have some success.  The currency ETFs are a good place to start.  Here is a link to the EURO and YEN ETFs:

http://top10traders.com/ViewHolding.aspx...

http://top10traders.com/ViewHolding.aspx...

Answer 2

I learnt the hard way but I had some good years living on forex trading alone.  I still do forex trading but now I'm also pursuing something I always wanted to do.

I find the in the last year or so there has been many releases of forex trading software aids that have come into the market.  I've tried a few and they are quite impressive much as I was skeptical.  These aids help the new comer a lot but to me also I find them useful as I don't have to spend hours scrutinizing charts as I used to do.  That's why I do forex trading part time now.  

I still don't feel comfortable to do forex trading totally on autopilot but I really found Forex Killer useful to generate signals foe me to trade forex.   Forex killer software is not one of the autopilot tools but more of an aid to help give signals.

Answer 3

Buy a few books, study, Open a Demo account and practice.

Crawl, Walk, Run. Sen. Clay Davis - The Wire

Answer 4

Through my experience i can say that:

1. Learn concepts 1st.  get familiar with the technical analysis, fundamental analysis, indicators and tools.

2. Make use of stop loss, limit orders and trailing stops.

3. Make sure of the entry and exit points.

4. Don't greed. Predetermine your targets and then follow them strictly.

5. NEVER repeat your mistakes. Learn lessons from your loss and try not to repeat them.

6. Never follow what people say, make your own strategy and use them cleverly in trades.

7. Choose a good broker who can help you to make smart trades

Actually trading is a smart activity done my smart people. therefore be smart and make a unique strategy.  

Answer 5

Many of those who have answered so far are giving you some good advice.

I personally don't have a lot of good things to say about most of today's readily available Forex trading software.

If you do decide to search for a commercially available strategy then you will need to know what to look for to help you weed out the ones that are most likely not going to benefit you.

I ran across a guide that lays out what to look for in a nice fashion. Best of all it's free. You can find the guide at the site below:  

Answer 6

The best way for you to consistently make money in the foreign exchange market is to make yourself a better trader. Being a better trader has very little to do with which indicators to use, but pertains to your self discipline and risk management.

I work with traders who make a lot of money in this market who only use trendlines. They accept that not all of their trades will move as they expected, and if losing, can easily close that position.

Good luck with your effort!

http://jsforex.blogspot.com

- Jim Syyap, Managed Forex Accounts