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Forex Trading Strategy

To trade to win in forex markets you need a sound and profitable forex trading strategy. Below you will find six questions, if you cant answer them correctly, you will join the losing majority so lets look at them

1. Do you understand and have confidence in the logic?

This may sound an odd question to ask but it's a fact, that most traders don't understand their forex trading strategy and will not have confidence in it when it hits a losing streak.

Why?

Because in most cases they are following a guru or mentor and have NOT developed the system themselves.

While developing a currency trading system is simple and anyone can do it, most traders fall for buying an e-book or trading system off the net for a few hundred dollars and expecting to win

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ou with it!

The only way to do it is to learn a system yourself and be totally familiar with how and why it works. Not only will you avoid scams, from confidence comes discipline a vital component of currency trading success

2. Is it Objective or Subjective?

When you trade make sure your system comprises of objective rules and not patterns that require to much subjective judgement. For example Elliot wave theory and cycles mean you have to make subjective judgements
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