Originally Posted by cucurucu

There is no such thing as "the best strategy". You have to experiment several "classic" strategies with demo accounts, or create your own strategies. I have created some strategies myself, but I can't say which one is the best. There are strategies suitable for trending market and other strategies suitable for ranging market. One thing I can tell you for sure: You can't use only one strategy. If this strategy will get you profits in trending market, it will sure lose on ranging market. The biggest problem is to spot the market condition: trend or range. Once you do this, you can use the suitable strategy. Like Maji, I like breakouts, but I never enter a trade on breakout without the confirmation of rising TR( or ATR1) & ATR4 & ATR18 on H1 timeframe. All this 3 indicators must rise in order to enter a trade based on breakout. This kept me out of trouble (whipsaws) many many times.
You must also look at other pairs too. I trade mostly the cable (GBPUSD) and I allways look at the EURUSD too when I enter a trade on cable. Those two pairs have a correlation of 90-98%. I also look at the USDCHF because this is negative correlated to the cable (when cable goes up - USDCHF goes down). This also kept me out of many many whipsaws.
And the last "tip" for creating a good strategy: don't use small timeframes because you'll get a lot of "noise" and a lot of bad signals. I use H1 and I never keep open positions over night.

I hope you'll find this usefull. If you have any other questions or comments, please PM me.

Best Regards.