This is still about how best to trade the forex market in order to make the best out of it. A little bit of people’s success stories with their different successful forex strategies may be all someone needs to breakthrough in the market. So, here are some “my forex strategy” stories to brighten your day.
MY FOREX STRATEGY STORY 1; TIMOTHY ROHRER
Timothy Rohrer is a regular forex trader that is of the thought that successful traders will not reveal their trading strategies because to be on the winning side, someone has to be on the losing side. According to him, he was doing well with two of his strategies, which he tested on a demo account for four months. When it was time for him to go live, fear came in and he opted for an easier option; signal providers’ services. After a while of trying out this option, he decided to go back to his system, this time with stronger psych, skills, and experience.
So far, he noticed that the market moves base on speculations and he tries to inculcate that into his strategy. He also pointed out different time zones when some currencies are known to do well. For instance, between 4:30am and 8:30am Eastern Time, the euros, pounds, and some other major currencies seem to have critical news release about them. So basically, Timothy’s winning strategies are based on time zones and news release about them.
“The tricks to this method are executing the trade at the right time, and discipline yourself to keep your stop-loss very tight”, he says. On a general note, strategies that are designed to function like this, if on the right track, brings in more winning trades than the other way round.
MY FOREX STRATEGY STORY 2; NOKFIKA MSELEKU
Nokfika Mseleku was a Malaysian ambassador’s wife, and was forbidden from being employed considering her status. She knew next to nothing about forex trading, but was determined to find something doing, so she went ahead to learn about it from a really helpful teacher. From what she learnt, discipline and knowledge is the order of the day for successful forex traders, and she imbibed those qualities in her as she traded.
From what could be gathered from her testimony, her strategy could be anything, so long as it is compatible with her personality. The important thing is to stick to it and learn every bit of it till there is nothing left to learn.
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