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  1. #1
    Administrator Martin Kay's Avatar

    Good strategies vs Bad strategies - How to distinguish one from another? !!!

    Hi, guys!

    Bogdan G has a new review on the BOTS school section. It is dedicated to the binary options trading strategies in general and will answer you the most important question to all newbie traders – How to distinguish good trading strategy from scam binary options trading strategy? Check it out and find out how to find the strategy you are searching for!


    Originally posted by Bogdan G. For the full review click here.

    My view on how a good trading strategy looks like. What should you look for in a strategy?
    Did you ever hear a guy saying something like: “Hey, what was your strategy?” and the other guy replying “I placed a Call on Oil”. There are guys for whom buying a Call or a Put is a strategy. Although this is not literally wrong, I don’t think that a trading strategy is limited to that and I could never look at it this way. Instead, I consider that the strategy is the reason behind my purchase of the Call or Put and it has to contain predetermined conditions that need to be fulfilled for me to enter into a trade.

    The strategic conclusion
    The importance of a reliable strategy is crucial if you are serious about making money out of trading. But equally or even more important is your mindset and your psychological approach of this business. My greatest “Eureka!” moment was when I realized that a good strategy is not all you need; you also need to put in the work and train yourself. Yes, the path is difficult but ultimately, rewarding. Whatever you do, make sure to stay away from scams and don’t give your hard earned money to guys that promise you incredible and easy to achieve wealth. Avoid them at all costs and think about this: if you had the Holy Grail of strategies, would you tell it to everybody? Probably not…so don’t assume that some guy, a self proclaimed “expert” will just hand it to you for a couple of bucks.

  2. #2
    Active Member

    great article !!!

    Great article Bogdan G!

    Most newbie traders really misunderstood what a strategy really is. Their fancy tells them that if they have opinion they already have a strategy, but the truth is that opinion is just an idea not a full tested strategy. I agree with you that if you say you have a good strategy you have to be able to put on a paper the exact rules you use for your entries and also to have real or demo practice with this rule at least for several months to be sure that the strategy is working. If you don’t do that you will just wild guessing are you doing the things well or not!

  3. #3
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Very nice and informative. I liked the conclusion. Traders not only need to have serious attitude towards making money but also towards training and learning. Novice traders need to remember one thing that there is no "one click system" or "set and forget system" which can turn ur small sum of money into millions of dollars.
    Strategies by others can assist u in developing ur own strategy. But if u try to use them as money-making machine or consider them holy grail and use them on a live account, it will be a nightmare sooner or later.

  4. #4
    Active Member pipshunter's Avatar
    Yes, M.J and more important it will become a disaster if the newbie start to relay 100% on somebody else strategy, without testing and deep analyzes. The first think after you find a profitable strategy will be to analyze its drawdown periods and to select a proper money management. Otherwise your account could disappear in a matter of days.

  5. #5
    Master Member Bogdan G's Avatar
    Some serious analytical skills and a proper mindset are prerequisites for a successful trader and even the Holy Grail will be useless in the hands of a total newbie that is just hoping for quick profits.

  6. #6
    Veteran Member uj.forex's Avatar
    To be honest, I would suggest the traders NOT to confused themselves with today's fundamentals... because they normally have opposite impact these days, plus conferences and speeches have high impact.... so its better to come up with a proper technical strategy and trade on its basis only... such as, EMA, Bollinger, or crossovers...

  7. #7
    Legendry Member willyw's Avatar
    Quote Originally Posted by uj.forex View Post
    To be honest, I would suggest the traders NOT to confused themselves with today's fundamentals... because they normally have opposite impact these days, plus conferences and speeches have high impact.... so its better to come up with a proper technical strategy and trade on its basis only... such as, EMA, Bollinger, or crossovers...
    Analyzing fundamentals needs some experience. Totally agree that at times fundamental have opposite impact on the market. There are fundamentals that have no impact at all. Newbies are easily confussed by fundamentals. Its takes time for them to digest fundamental analysis to be able to analyze fundamentals.

  8. #8
    Veteran Member uj.forex's Avatar
    Yea, true... it often happens because market movers often move the market BEFORE the data comes out...so the market already has completed its movement that was meant to be taken when the data is out, so those who enter when the data comes often face loss because at that time, either market does not really move, or it moves against the outcome of data in order to give correction....

    so understand the market movement is an art itself.... that often happened in NFP data, which totally changed teh trend that was not expected....

  9. #9
    Rookie Member
    I agree with you. Traders should know good and bad strategies. Every trader should follow good strategies to earn more and more profits.

  10. #10
    Senior Member dorrian's Avatar
    Quote Originally Posted by Martin Kay View Post
    Hi, guys!

    Bogdan G has a new review on the BOTS school section. It is dedicated to the binary options trading strategies in general and will answer you the most important question to all newbie traders – How to distinguish good trading strategy from scam binary options trading strategy? Check it out and find out how to find the strategy you are searching for!
    Very good article and important too! Well explained with all the details what to look for, where to search and how. It is the ultimate starting point for everyone of us, before starting a search of our new trading strategy.

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