What are the main criteria for a good trading strategy?
1. Lowers the risk by:
· Limiting the size of each trade
· Diversifying your portfolio
· Using hedge trading
2. Suits your lifestyle:
· Trading times
· Allocates time for: Sleeping, exercising, eating, etc…
3. Suits your personality and emotions
· Using the correct time frames based on the strategy
· An anxious person cannot be a good scalper. (It eventually make him/her sick)
The most important part is how to implement your trading strategy.
· You should follow your strategy completely
· Review every few months. If you need to do some adjustments, do it but first test it on a practise account. (I did not do that last year. I tested my strategies straight on my real account.
My portfolio includes 23 markets as of today which help me keep my risk low. These market are listed below.
$EURUSD $GBPUSD $GOLD $OIL $CADJPY $EURJPY $AUDJPY $BTC $GBPCAD $USDCAD $USDTRY $NZDUSD $USDJPY $USDCHF $EURGBP $EURAUD $CADJPY $CHFJPY $AUDCHF $AUDCAD $AUDNZD $NZDCHF $USDSGD
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