Don’t buy forex strategies online
You’ve probably seen it before. Many people talk about having the winning Forex strategies or having a strategy that is 99% guaranteed to get your results in forex if you only “follow this specific process.” There are people who want to sell these strategies to you and the first piece of advice I have to give is do not buy into it. Under any circumstance.
Speaking in general, it is indeed possible to do a Forex strategy that works for you and give you a lot of profit most of the time but anyone promising a guarantee for that is lying. In fact, anything that promises something even close to a guarantee is playing a little bit smarter but also lying. There could indeed be someone out there who use a specific Forex strategy and ever since he did, he’s been doing nothing but winning trade after trade with literally no losses whatsoever. But with that same line of thinking in mind, there could also be someone out there who just started forex hasn’t made a strategy at all and still has never lost a trade. It is possible for it to happen, true, but there’s a difference between possibility and probability.
Managing to pull off the first action I suggested where they had a strategy that works for them every single time would be classified as really improbable. Managing to pull off the second action I suggested where there was no strategy involved and they’ve just been winging it ever since their first trade and they still managed to never lose would be classified as incredibly improbable. Possibly even astronomically improbable depending on the number of trades. It’s just not something that you can count on by any stretch of the imagination. Heck, near constant wins are still things that only happen in many people’s wildest dreams.
What is likely to happen if you do buy into these forex scams is that you may get an advanced forex strategy is pretty good by itself but is also technically something that if you did enough digging on the internet you could have found yourself. That is, if they actually give you anything at all and don’t just run away with your money. Think about it. If there really was a proven winning strategy, would somebody actually share it openly? Maybe amongst their friends sure, but certainly not to post freely on internet. And even then, in the end, they were just extremely lucky. The market system literally does not support a sure-fire means of prediction. The closest thing to pulling that off would be: being a high-ranking politician who can move the economy by themselves through their decisions and thus trade forex based on their upcoming reports; even then, sometimes that doesn’t go according to planned parameters.
Here’s what would happen if the market could hypothetically support a strategy that works 100% of the time or anywhere close. If it was ever advertised to other traders, then as they use it more and more, a multitude of people would inevitably get the information on how to exploit the market. Then everybody would be using that winning strategy…except that, due to the market’s intrinsic aspects of swings, retracements, and basic balance, eventually the economy itself would push back and rework itself in order to stop accommodating that strategy. Not to mention the numerous other economic issues with such a crazy scenario. (inflation anyone?) All this results in making that strategy unreliable and useless in the long run. A similar concept to what I’m hypothesizing that actually exists is the phenomenon of overbought and oversold markets: where the market fights back against the majority’s buying and selling positions.
I reiterate; it IS possible that somebody did manage to make a strategy themselves that always worked for them so far and either through altruism or simple fame, wanted to spread it, but again, note the word possible. It’s not probable. and even then there is no guarantee that it will work for you. Forex strategies raise your chances of winning a trade because it’s not a bunch of random events that you think seem to be going one way so you jump in to take advantage of it. The use of calculation, deduction and economic prediction is what really counts. But even the best Forex strategy can fail due to a lot of other factors.
It’s not hard to find Advanced Forex strategies; you can pretty much look them up or ask around in forums. The issue is truly understanding them and using them effectively. That’s why, at its core, it’s not a bad business decision to LEARN advanced forex trading from people who offer classes in such areas. You just have to find out which ones are worth their price. Offering training services is one thing. Trying to sell a strategy is another. The process of using Google search and asking in forums is free, so work with that and don’t fall for the bogus promises of others.