There are lots of "amazing" forex strategies, but only few are profitable. Everybody can call their strategy "the masterpiece of trading art", but it's by far tougher to create a reliable strategy.
So, each trader looking for a strategy good for them, must understand differences between repainted algorithms and really working ones. In the previous article, we were talking about detecting repainted trading systems, along with features of reliable strategies.
There is plenty of trading algorithms on the Net, some of which lead to gaining with the correct approach, and others lead to equal losses, regardless of the usage way. Don't think you can't find a strategy giving you 100% of your deposit per month. They are very few, but they still exist. Actually, a successful trader invented an excellent forex strategy, can never conceal his algorithm for too long. Sooner or later, either his friend, a trader-blogger reveals it, or the author publishes it. Novices are often able to take pros' experience, because not many traders hide their systems.
Modern trading uses expected values in analyses. It means the ratio of your potential profit to potential losses, defined by set TakeProfits and StopLosses. For instance, you've bought a dollar. StopLoss is set 10 points lower than buy-level, and TakeProfits - 15 points higher. Thus, your expected value is 15/10. They say that index must be more than 1, otherwise your order is potentially unprofitable. I don't agree with that statement, though.
In fact, you can't always set that little StopLosses or TameProfits according to your strategy or market movements. Nevertheless, such investment can probably turn to be unprofitable. Pay attention to the formula above. It shoes which risk you can correctly take. Along with potential profits and losses, it uses the probability. So, if you are very likely to gain, make the deal even with low expected value. Another point: if this probability is not that high, and you van lose more that win, you'd better keep yourself from such deal.
I'd love to add there are very fee brilliant forex strategies may be found on the Net. Traders don't love to talk about their activities and profits, let alone their strategies. They can seldom show a screenshot of their terminal, but don't wait for trading secrets.
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