It always better to choose a trading strategy test it and make it a successful one. It is always better to create a successful trading strategy as compared to choosing random trades. Choosing random trades has high tendency to burn hands. There has to be an approach and method adopted in forex trading. One would not buy scripts or stock in stock market. The stocks are always bought based on certain fundamental, which is one of the good methods of trading in stock markets.

Likewise a forex trader need to trade with a strategy. Following economic calendar and trading is one of the good methods. Before you make any strategy as a full proof methods conduct some research. You need to test a particular strategy at least 40 to 50 times in low cost mode. Identify the success ratio. It the success ratios are 75 % and above retain that strategy. The test should be at least being conducted for 40 to 50 times before you conclude as a long term strategy.

The forex market is not running away anywhere, it’s here for years to come. So you have enough time in the world to conduct test. The mistake done by majority of traders is to loose money in short term and quit for ever. Give yourself at least six months for preparation. The best way to conduct research is on practice account. In practice account you’re trading with virtual money and failure of a strategy would not lead to losing real money.

A long term successful forex trader is some one who has long term successful strategy.