Hello fellow traders,
Can you please share what trading systems you are using or you’ve used and was successful?
I really need a free working system at the moment. I don’t have money to pay for any trading strategy, so please share a free one. Thank you in advance!.
You should try learning technical analysis. There are really good trading systems that have been explained by great minds such as Bill and Larry. The indicators that you see on the mt4 are very effective when used properly. I can see that some new traders are already making good profits by using these indicators as they learned from some websites. You can learn alot as well from these from guide and videos: [B]Free Trading Strategies[/B]
3 ducks system is solid and reliable
I am using a forex robot that is a scalper. This robot was designed with a forex system. so when you buy a robot, you’ve got yourself a working strategy.
For new traders, I think the MACD would be a good indicator to make a trading system with. It is basically created on exponential moving averages. It is a kind of trading moving average crossovers, just that this time with the addition of the MACD histogram, the signals generated tend to be more accurate. When the MACD crosses the signal line upwards, the histogram would climb above the zero line and you could buy as a trend could be bullish.
Thanks for the videos, they were really helpful. One strategy I like very there is that Impulse trading system. awesome oscillators which are credited to great minds like Bill Williams, and when you properly combine it with the stochastics for timing your entries adding fractals too ( for an idea of stop loss and risk management), it is a very profitable trading system.
As a beginning trader, you may be a little bit familiar with what pips are, or have a brief idea as to what you might do with a stochastic indicator. Technical analysis is something that you need to learn, as it complements a lot of other trading approaches and really gives you a solid foundation in the Forex markets and beyond.
Successful binary options traders approach the market with two key tools: A trading strategy and a money management strategy.
Money management as you said is of the essence. A trader should not only be well grounded in technical analysis, he should also be good in risk management. This is why you use a very powerful trading system and yet fail because you wrongly applied stop losses and profit targets.
Newbies should try to trade with their own skills and knowledge, Trading systems are very complicated to use and for that you have to get a bit of experience to understand how the market works.
It is technical trading could seem quite complicated for new traders. They could focus basically on price action. And if they are satisfied with their progress and want to up their game, they could try their hands on moving averages, it is really simple to learn for traders: basic getting signals from simple moving averages with reasonable period.
A good strategy is just too important to ignore. Some new traders jump into the forex, get on a fifteen minutes chart, see price movements here and there and then feel: how about I just hurry in and grab some pips and rush out too, I don’t really need a strategy for this quick one". But at the end, it turns into a big loss; a strategy is necessary, so that you can be organised on your trade, setting stop loss and profit targets.
To get this experience you are talking about here, I suggest they try that on a demo with good platform. And when they gain enough experience to move to real trading; it is easier they start with smaller position sizes as a risk management measure.
You will find this simple strategy useful. I have posted this a long time ago, but it is still useful. Just learn from the Videos on how to set it up: 301 Moved Permanently
You need to learn more than just the basics of Forex. Also, don’t run after people’s strategy, build yours.
First it is necessary for a trader to have a trading strategy. Moving averages are very good for new traders. But sometimes the moving average especially when you are using just one simple moving average on a chart can generate many fake-outs. So you could use the Bill William awesome oscillator that combines moving averages in a better way; making use of a 5-period and 34-period Simple moving average to measure market momentum and generate entry points.
Hey! The stochastic is great if you know how to use it, especially when it comes to trading oversold and overbought situation. When I am using it, I try to confirm the signal I get from the stochastic with Relative Strength Index (RSI) to get more accurate signals to enter and exit the market.
The posts here seem to focus on entry signals and filters. Entries are more or important depending on your trading style - not very important if you’re long-term trend-following. But exits are where you either make money or lose money. True test of a strategy is where does it get you out of a trade. True test of a good trader is can you get out where you should?
In any system there is a demo account go to any try to start.
MACD is a great tool to start with for newbies.