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Chapter 6. Tools and Strategies to Get S... > Strategy: Creating an Approach Model

Strategy: Creating an Approach Model

Every trader needs to develop his or her own approach to the Forex market—one that is both successful and a match between the trader's personality and trading behavior. A good match between the trader and his approach will be more profitable and will allow the trader to locate flaws quickly and make adjustments. The size and scope of the Forex market can make developing an approach intimating for most traders. Where do you begin?

A classic model is the inverted pyramid approach, shown in Figure 6.1. In this model you can pinpoint trades while evaluating all the risks associated with them. Most brokers, traders, and dealers follow this model—consciously or just instinctively.


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