Methods and strategies in Forex



For example, there is a method to ship-building. There is a strategy to winning a game. If you follow the correct procedure to build a ship, you will end up with a correctly built ship. The outcome of a game, on the other hand, depends on the other players and your response to them, so your actions will be part of a strategy.

A method will not work because the same actions on your part will not always result in the same outcome.



A method typically involves a set of actions that can be followed in a given situation.

A strategy involves a plan for how to solve a problem. While methods tend to be fairly constant, strategy can be updated depending on the circumstances or the actions of others.




For example, at school:



* Method is the way the teacher approaches the students.



* Strategy is the action to be taken by the students to reach the objective.







What is the difference between method and strategy?



A strategy is a plan to get you through something while a method is just a way of doing something.



A method, for example, can be referred to as a way of cooking vegetables.  

A strategy is mostly used for military reference, and even sometimes in football.