Hello everybody! I am a new in the forex - so could somebody advice good trading system that really works or some indicators that are worth. I want to learn an test them to save some time - otherwise internet is full of them - but most of them are scams! Thanks in advance!
3 ducks system on here works, only uses 1 indicator and easy to understand
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I wish i had a dollar everytime a newbie asked this question
hehe
i really wish i had a dollar everytime this was asked as well.
i don’t see why this question needs to be asked over and over until the end of time
it’s not like the majority of newbies come here and say "I’m looking for a system that will send me broke"
and then you come along with A DIFFERENT QUESTION that has never been asked and say “I’m looking for a system THAT WORKS” hehe
LET ME ASK YOU A QUESTION MY YOUNG NEWBIE FRIEND ?
When we learned , No - One saved us our time
Why should we save yours ?
Secondly
if you REALLY want to LEARN and TEST THEM (that’s awesome) so… GO AND TEST THEM.
think something up and test it
THAT’S HOW YOU LEARN and become good at forex
if you are however looking to ask someone for a system that is established and WE ARE TALKING ABOUT SAVING TIME
YOU WILL FIND THAT IT WILL BE A WASTE OF YOUR TIME if anything
the system may work for the other person, but not for you
HONESTLY… the best advice i can give you…
START SOMEWHERE it doesn’t matter where
formulate some sort of strategy, even if it is as basic as
RULE 1 - Trade EUR USD Always
RULE 2 - BUY always
Rule 3 - Only Buy when YOUR GUT FEELING tells you to without researching
now… from that system, you will find it will fail
NOW… FIND WHERE IT FAILS AND MODIFY IT
and go from there
that will help you more than having someone tell you
i use this indicator and when the lines cross over and then when this indie does this and that indie does that and then this timeframe does this blah blah blah
then you buy
this is useless to you … ok
Hope this helps
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Then study on the Price Action strategy! By the way, don’t
learn only candle pasterns; try to understand the full scenario of the chart
according to the PA system!
We can advice you about indicators and systems , you have to do your own trading to see either these are beneficial to you as they are for me or any other trader. As I like Bollinger Band, RSI and Candle stick . One thing you should keep in mind that saving time is not important saving money and grow it should be your aim.
I will advice you to add RSI in your indicator tool kit, This will help you to decide about your exit points and lock profits in time.
i totally agree with this
Learning candlestick patterns TO SOME SMALL DEGREE is helpful
it has been my personal experience that knowing the names of the patterns has been little to no use at all.
I remember Doji from time to time… yeah ok
as for Rising hammer, Faller Star, Maribozu, head and shoulders blah blah blah
pretty useless for the most part
i remember when i started, i was so pumped, i learned them all (Like a GOOD LITTLE NEWBIE should) hehe
i made a cheat sheet
i laminated it and had it in front of me EVERY DAY WHILE TRADING so i didn’t miss a thing
BIGGEST WASTE OF TIME AND PAPER AND BRAIN POWER
to this day, it means absoutely nothing in my trading
What does mean something is… Knowing what’s happening by looking at the charts
it’s a sort of a sense that you develop over time, so don’t try to force it
it’s like trying to get laid for the first time
you go to a club, you walk up to a girl and say let’s get outta here with some cheezy one liner
and we all know what she’s says before she slaps you … right hehe
later, you develop a sense of … You gotta buy her a drink before you get anything.
then later drinks get expensive and you rack your brain trying to figure out how you can get some without buying drinks
BUT… YOU CAN’T
and you can’t force it
so let it happen mate don’t force it
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Thanks for sharing your opinion with the suitable words!
Although, I am not an indicator-lover! But I use only moving average! You can try it (EMA200).
Whatever system you use, indicator or not, learn to do this and apply whatever you’re doing to this. Break the trade down into 5 parts. 1. Trend (Up, Down or Sideways). 2 Momentum (up, down or flat) 3. Cycle (Beginning, Middle or End) 4. Resistance (Major price points) Support (Major Price Points. One you know that, you can use your system/indicators to plan your trade. One of the best free pieces of advice I ever got. Good Luck
Gp
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Hi GP, good to see you back 
Thank you my friend. Good to be back
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There are many trading systems and indicators in the market. Suppose my trading system is scalping. It is quite easy and profitable for me. But it is not good for those broker who are doing long term trading. So, you have to find out which suits you most. Let me give you short guideline. First of all fix your trading style. Then look for the trading system. To get the best trading system you can try demo platforms before joining the real one.
Start from ATR, moving averages and different oscillators, combine them and backtest to get raw results that give you understanding of tecnhical analysis. But I’m more comfortable to trade with fundamental analysis because its more challenging and less subjective, IMO.
Start with the moving average crossover system. Buy if the 20EMA crosses above the 50EMA and if price is above the 200EMA. Set a stop-loss below the last swing low or 2 x ATR14 down from your entry. Adjust your position size to 2-5% of your account. Pyramid the position with another trade with the same £ risk when your first trade’s £ profit equals its’ £ risked and move its’ SL to entry. Optionally, if first trade falls to -50% of £ risked, close 80% of the trade. Keep repeating this.
Adapt this as necessary to suit your preferred time-frame and your account size etc.
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I like Price action RSI and some other indicators., They need much practice to use them in effective manner. It is not same with every one some people cannot follow them . I also use different indicators in different situation . To select right tools for certain market conditions is really a hard work.
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Best advice in the thread, IMHO.
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Use the searchbar of this forum by “Technical Analysis” & “Fundamental Analysis”! Besides, read the BabyPips School for couple of times! It will help in your trading more than relying on the indicator based trading!
hehe
BOTH for the beginner…umm… something goes here hehe
Where can I find the 3 Ducks indicator? Does it calculate position, risk, etc? I need something to streamline my trading.
Thanks