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Rules On Picking A Strategy In Forex Trading
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[QUOTE="marym, post: 304562, member: 97350"] It is common for beginners in forex trading to believe that the key to profitability lies in finding the perfect strategy. However, the truth is that there is no one-size-fits-all strategy in forex trading, and it is important to be mindful of the complexity of a strategy. While it can be tempting to try out multiple complicated strategies in the hopes of finding a profitable one, these often produce lower results due to the multitude of variables and indicators involved. Instead, it is important to focus on the smaller details and opt for simpler strategies, such as candlestick patterns, support and resistance levels, and other strategies that require minimal indicators. These cleaner strategies not only tend to be more effective, but they also help to reduce noise and confusion in the trading process. It is important to remember that less is often more when it comes to forex trading strategies. In summary, when selecting a forex trading strategy, it is crucial to avoid getting caught up in the complexity of a strategy and instead focus on the smaller details. Opting for simpler, cleaner strategies can lead to more effective trading and reduced noise in the process. [/QUOTE]
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