Forex Holy Grail
Many forex traders have been looking for the forex holy grail. And sad to say, all of them will fail simply because the forex holy grail does not exist.
There is no fool-proof forex strategy that exists to give an investor 100% accurate profitable trades. There is not even a single forex strategy out there that can assure its trader sure-profits when used in trading. A forex holy grail, or whatever forex strategy hunters call it, does not exist.
Most of these forex strategy hunters who search for the forex holy grail look at the various forex robots available in the market today. A quick look at the various forex forums would reveal that there are far too many forex strategists developing their own trading strategies, mostly with the aid of forex robots or Expert Advisors, to make trading purely mechanical, taking away the factor of human greed and other emotions. But reading through the threads, most of these forex strategies end up being “overdeveloped” by the forum posters to the point that, most of the time, the true and original essence of the strategy is lost in development and modification.
A better chance to find the forex holy grail would be on the open contests for forex robots. There are trading championships usually held annually where forex strategy developers enter their Expert Advisors (EA’s) competition. There is usually a timeframe for the contest where the most profitable EA wins. Some forex robots entered into the contests are quite impressive. Accounts are multiplied many times over during the course of a few months period. And reading through the message exchange between the developer and his followers, there are many offers to buy the EA buy wealthy forex hunters.
While these forex EA’s have indeed shown extreme profitability as proven by the contests that they have won where all forex robots are traded under normal forex conditions, forex investors should still be wary that it is not proof that the same strategy would always work in the future.
That is the precise reason why there is no such thing as a forex holy grail. Forex strategies that work extremely well under today’s market conditions are not guaranteed to work in the future. Markets change, traders develop, central banks learn from their mistakes, governments modify existing laws governing forex trading, forex brokers adapt to more competitive market conditions, and even in the field of programming, new systems are developed to improve existing ones.
If there is indeed a forex holy grail and someone has found it, do you think that he will ever share it with anyone. The forex market is a constant battle between forex traders. Any forex trader who has developed a winning strategy can only hope that such strategy remains effective for a loner period of time. Coz once the secret goes out, and other forex trader learn of the strategy, it is only a matter of time when the strategy becomes ineffective.
Each forex trader has a trading personality. Depending on your personality, there is a forex trading strategy that would fit you and your investment goals. Find that forex strategy that fits you perfectly and develop your own system. That would be your forex holy grail. Each one has his own forex holy grail that fits his trading personality and investment goals. Continually develop your forex system ajd it would eventually become your forex holy grail.