In the world of trading, people are always in the search for the best strategy, a perfect approach to trading (a solve it all solution) or hear who’s making more profits in order to learn their strategies. Traders might be successful(having more wins than losses) using a particular strategy however, there’s no such thing as a universally good strategy, talk more of a BEST strategy.
As regards bitcoin I’ve been made to understand that trading is not advisable, especially for a newbie, if you must trade you can trade Forex and other commodities or indices instead.
Today there are people who even sell false strategies that’ll give you 80-100% win profits, some ask you to join their group by paying a fee where they’ll be dropping daily signals for you to trade (All these are lies and fraudulent)
Even the legit real traders who make enough profits don’t have one particular strategy, because even with the most advanced tools and analysis the market is still unpredictable. A strategy can be successful but it’s not without losses and NO STRATEGY can completely eliminate RISK or predict every possible outcome. A strategy can be good when it helps you achieve your desired goals at a particular time.
A strategy that works today might not be efficient tomorrow.
You can only focus on having a robust trading approach that incorporates risk management, adaptability and continuous learning.
Avoid strategies that promises overly high returns or assure u 100% success.
Avoid strategies that depend on too many indicators and rely heavily on leverage (Run away).
Make dem no Deceive you.
Very true my bro, people keep on searching for the best strategy to use online and they are not willing to learn any other thing they just want to bank on that new strategy and if it doesn't work they still go searching for another new one which will lead to losses. The truth of the matter is that the best strategy is the one you develop by your self out of your losses out of your mistakes out of your corrections, although you will certainly learn some things from those people but you are supposed to pick only few things that will fit your own approach to analyzing the market not prioritizing them, the only way for someone to be able to master the chart is by back testing, infact that is the only strategy you need in order for you to be able to be profitable in the forex market, you have your tools and indicators available all you have to do is to go back try out those tools use the ones that makes you understand better, know why the market reacted in a certain way, expect that reaction as you go further and make it become useful and keep un learning and growing before you know it you also a master at trading.
