I suppose the hard part with indicators is it’s a combination of criteria put together? Vs. price action which is just there/bare? I do see what you mean though (I still use indicators myself).
I have around 50 demo’s going myself. I have the demo’s going in different email addresses, Saved the pass words and named each Demo specifically. I have Major pairs, Minor pairs ,Buy and Sell in different time frames. Index’s and exotics’ the same. Metal and Oil.
I run my demo’s $500 each and .01 lot size. I usually run them and forget about them.
Now when whatever strategy I am currently working on is not working I go check out my running demo’s. My profile says I am a Scalper ( however I keep blowing my account )
I have a thread My Proof Profit Strategy. I have taken $600 to $1900 in 3 Days without scalping(see thread) …caught market just right…LIVE ACCOUNT
Weekly/Daily Chart is best for swing and trend trading and Day Trading 30 Min Time Frame Works the Best on all Demo Accounts and strategy testing.
Conclusion Major Pairs best for trading
Indexs, Gold,Silver, Oil,Exotics will blow accounts quickly
weekly/Daily Time Frame for Swing Trading
30 Min Time Frame for Day trading
Demo Demo Demo and keep them Demo’s Going
TabiusLee
My Proof Profit Strategy
Indicators a of great value especially when you are still new in the market. They eliminate subjectivity and helps boost your confidence to pull the trigger.
I blew my first account in one day trading gold. It was funny because, at one point during the day, I had more than doubled the account (about 130%. I felt as if I owned the market and blew the account the very same day. I still trade it though, but only 1 mini lot per trade with wider stops
You should try different strategies on the demo account and select what works for you best. Once you have decided what strategy you would like to stick to, keep your focus on that. Following one strategy throughout will help you grow.
Only 1 at a time. I am very new to this so don’t want to end up confused.
I lost sooooo much with Index’s and Gold it’s just not worth it too me.
Found my running Demo though
TabiusLee
Still in the process of finding the one for me, so ya, trying different ones.
One strategy for 25 days at least at one time. It helps me to have a clear understanding of it.
I feel one or two strategies are good to go at a time, don’t mix them up, don’t confuse yourself. Also stick to one strategy atleast for 15-20 minutes until you are well aware about it’s pro’s and con’s.
How many are you trading at the same time? That’s so many!
Thanks, I’ll give this a read.
You mean focus on one, then trade the other strategy when you’re done putting up trades for the first?
I have found this to be my Best strategy overall. The only mistake I made doing the above is I took too much profit too quickly and was in a drawdown took awhile for a weekly/daily reversal to switch direction. My profile ( Scalper) learning to very much dislike tand just … be patient… be a Swing/ Trend Trader…
Tabiuslee
Start practicing one strategy at a time and stick to it for a week or 10 days.
That doesn’t sound long enough? Are you doing this with any success?
@forextt how is your methodology getting on, still working out as described? It looks very straightforward, so as a newbie, i am curious to hear more. Cheers mate.
I think you need to try different strategies to find the one you want.
Sure, but are you doing just one at a time, or several?
can’t believe I have been absent from this forum for a very long time. I am wondering whether you were able to check out the Inner circle trader channel I recommended… I have been swallowed in learning all about what he has to teach that I totally forgot about this forum. his stuffs works!!! that’s the Gospel of trading
There’s a lot going on there with his videos. Where did you start? His old stuff at 3 years ago, or newer you think?
I don’t like to spread attention between different trading srategies because distraction is what you should avoid in trading.