Creating your own forex trading strategy

I think there has been quite a bit of theory lately about what the market is, what trading is, and what a trader is (not as a person, but as a mechanism with its own laws of operation). I'd be glad if you found them interesting to read. And I'm doubly glad if they helped you get rid of some illusions concerning Forex trading.

Now let's go over the practice, because it's all theory. "Test the strategy", "Become a good trader", etc. Believe me, I understand how infuriating it is to read all this stuff at the beginning and even in the middle of the road. Especially about "Become a good trader". This is just crazy, seriously: I came here to make money, I want to understand how to do it. Here's a chart, here's me, tell me where to buy, where to sell. Tell me how the market works, so I can buy before it goes up? Sell before it goes down. And then a smart guy (like me) comes along and says: "Dear friend, first you need to figure out what you are, why you act in front of the monitor in this way, and you have to learn on your own, in the tester and for free. In the sense that you won't be making any money during this period." Honestly, I really understand you. This way of putting it, it must be really frightening.  What nonsense and secondary nonsense. Probably, the smart guy (it is still me in this case) himself does not know shit and just wants to throw a couple of common abstruse phrases in your ears, in order to make himself look like such a sage.

Such thoughts may visit us because at the initial stage we have some ideas of what "trading" is and how it is learned. Only it is based on our dreams and fantasies. Because what else could it be based on, if we have no experience at all in the beginning.

Creating your own forex trading system is a process whereby a person who trades in financial and other markets takes up creating clear rules for their trading activity.

Creating your own forex trading strategy is a very time-consuming process. Beginner traders spend from several months to several years searching for their own trading strategy, and most of them never find it.

As strange as it may seem, very few traders out of thousands earn on Forex and stock exchanges. Because these traders either look for millions on the Internet, without making any effort, or when creating their trading strategy do not take into account certain nuances of its construction, in this regard, I advise to look towards https://tradersunion.com/, this is the first and the largest in the world International Association of Forex traders, the main purpose of which is to create for its members the most favorable and convenient conditions to work in the Forex market.

What to consider when creating your trading strategy

When creating a trading system, you need to consider some nuances:

1. The market constantly changes; it is always on the move.
2. There is no such thing as overbought and oversold - this is a myth created for small traders to play against the trend.
3. The various figures and price models work well only on history, because history is where they were invented.
4. The various divergences and convergences also require refinement.
5. Elliott Waves is a very complex system, and most importantly, it can be used to explain both growth and decline.

You may ask how is it that the author of this article excluded almost all of the postulates that we were taught for so long? And what should I rely on in constructing my tactics?

Note that all of these postulates and myths are advertised by brokerage houses, organizations, or people who make money on training. They all benefit from people believing and continuing to believe in these myths. When creating your trading tactics, you only need to pay attention to certain patterns in the market. How do you identify these patterns when creating a strategy? Very easy! A simple human observation and participation in the forex trading contest, where you cannot only work out your strategy for free, but also earn money without investing a cent will help you.

Creating your own trading strategy by sifting indicators

While creating a trading strategy, as a rule, certain regularities in the behavior of the market price are highlighted. The easiest way to do this is to apply a small set of forex indicators. They are different for each trading system.

You can start creating a trading strategy with the simplest indicators, for example, take two moving averages. One MA is set for a period of 14, the second for a period of 7. When you overlay them on the price chart, we will see that these forex indicators cross each other in some parts of the market, this signals a change in trend.

Now we can test the history if our trading strategy works. If not, you may need to change the indicator settings or add another one. This way, you can find your own trading tactics by trying different indicators.

Creating your own trading strategy of increased complexity

To create a trading strategy of a more complex design, you can take as a basis ready-made trading system from our website. They can be found on the trading strategies page. By adding new indicators, you can get a kind of filter, and the result will not keep you waiting.

Testing trading systems is a very time-consuming and laborious process, but it is necessary for the strategy.  Be patient! Good luck!