Don’t overcomplicate it. Keep your system simple and make sure it makes sense. You can’t remove all emotion from your trading but you can(or learn how to) control how you react. There are no "Guru"s out there that are gonna make you rich. If, there were why are they selling the information to you? Shouldn’t they be rich by now? So, why sell to you?.. cause they’re lying. Save your money and invest in a good backtester. Research online there are literally thousands of resources online. You shouldn’t have to spend a lot of money to learn the fundamentals and how to trade. I’ve spent a lot of money over the years on books and courses and the most influential part so far has been in backtesting strategies I have created on my own and going live to see where they fall short. Go through the stages of loss and fail forward. You’re going to lose somewhere down the line you will never have a perfect strategy. You will never have a 100% reliable system and that’s okay. As Traders we have to anticipate loss and mend our strategies to incorporate that. If, you don’t then get ready for a string of losses and to have the greatest awakening of your life when you realize you dumped all this cash thinking you were gonna be the next overnight millionaire. You don’t get rich overnight, you work hard towards it every day. You put in the time and effort every single day. Quit chasing the quick money and instead learn the craft. Because guess what? no one else is gonna do it for you(unless you have a profitable algo then good for you). This is just my two cents. Don’t waste your money on useless resources. Invest in yourself and realize that most books and courses are just regurgitated and resold. Commit time to testing and creating your own strategies rather than wasting your time and money making someone else wealthier.
Really like this. It is so important to keep things simple. Follow the rules and make sure they are objective.
Please can you help me with a trading strategy. I’m a new in trading
Welcome to trading and to babypips.
Search the internet for a simple and objective trend-following strategy that works on the daily (D1) charts. Open a demo account and run this strategy until it is consistently profitable or you understand why it is not and how you can adapt it to work better for you.
When you are consistently profitable, start running small trades with real money in a real account.
I only trade the news, NFP, or 9:30 am EST now above or below the 200. Use the Alligator and switch back and forth from 1 min and 5 min candle entry Hit my target and then I am out, 0-2 min trading 2 X a week now.
I agree with you 100%. A trading strategy does not need be over complicated at all. In fact, I have come across some good strategies that are very simple. Trend, pullback, reversal, support/resistance are things that are well obeyed by any financial market. A strategy based on them does not usually go wrong.
I agree with you.
Yes keep your strategy as simple as it can be. Don’t over complicate things otherwise you will get confused a lot.
First things first. Learn properly if you are serious about forex trading. If you have doubts, I suggest not risking your money. You will be able to make money in the forex market when you do it with full concentration. Otherwise, there won’t be anything more than losses that will come in your hands.
I started my trading journey with a demo account wherein I was doing breakout trading at first. The prime focus here is to enter the market with the price breakout and later continue to trade till the volatility dies down.
Quite confusing. Not the strategy but one of the aspects that you mentioned. I might sound lame but when exactly should we enter the market?