Hello everyone! I’ve started out trading on several demo-accounts while doing research and lots of reading. decided to settle upon FXCM due to news that they might be using meta trader for their trading platform. Meanwhile, I’m testing out different strategies and learning to do back-tests. I hope to learn more from all members out here… perhaps share about their learning journey and the kind of analysis in which they use?
I’m currently still doing demo-trading , using technical analysis mainly (am still understanding how to in-corporate fundamental analysis though) and these are the main indicators in which I am using before I enter a position:
Bollinger Bands (with a 20-period SMA)
RSI
MACD
I am rather confused, due to the fact that so many different “proven” strategies or systems exists and it makes me very uncertain of what I am currently doing. Hope that someone can point me in the right direction, or maybe introduce some back-testing software which can allow me to test my strategy?
I am rather confused, due to the fact that so many different “proven” strategies or systems exists and it makes me very uncertain of what I am currently doing.
With the compexity of forex trading there are more ways than one
to achieve your goal.
Many thanks for your advice! I have been through the school and many other books. I’m still experimenting on various indicators and currently trading only the EUR/USD currency pair. What I’m uncertain is the success rate of my system and before i actually step into live trading on a mini-a/c , I would love to test how well my system works…