Hi. I am new in the sense of my dedication and sincere love of the forex market. The last time I “tried” Forex was in 2005. Yeah that long ago. Now I am in a different more mature place in my life so here is what I have.
I have finished the school of pipology and have taken more notes and printed out more pages than I did for most of high school. I am sure of a few things like the following:
I like support and resistance - namely pivot points (trendline get a 7.5 out of 10 for me. I will use them but as confirmation)
I am a target profit and SL kinda gal. I like to put in my trade, TP and SL and walk away.
I like price action better than indicators - the seem to lagging for me
What I don’t know is:
Whether I am a swing trader or day trader
- is there a hybrid between the two
Where to specifically start in looking for strategies and systems
I like the forums but have to ease myself into them because of the lingo and breaking down what each person is saying.
I have discipline in trading. I have much time to dedicate to developing myself as a trader. I do pretty good at taking my emotions out of it (hence the SL and TP)
Where do you suggest I start to discover myself while keeping the things I know I like in mind?
From what you are saying it seems that you have your own strategy so you can start where ever you feel comfortable and with broker which will suit you needs.
I will suggest you to start with PaxForex and try your strategy.
Welcome to our forex community and congratulations on graduating from our School of Pipsology! Have you tried taking the Personality Quizzes to help you figure out if you’re a swing or day trader? A hybrid approach is also an option, especially if you’re fond of using multiple time frame analysis or if you’d like to trade news events while also riding in longer-term trends like I do.
If you’re looking for systems to try, I recommend the Three Ducks System (moving averages, multiple time frames) and the Amazing Crossover System (moving averages, RSI) to start off with. Of course you can tweak the settings or entries/exits to be more in line with your own approach. Hope this helps!
Thanks. I took the quizzes and i am a day trader/swing trader. I am keeping it simple and trading double tops/bottoms right now with volume and Pivot Points. I am not much on MA. They lag too much for me. The School of Pipsology is awesome!! They didn’t have it when I first started trading but I am so grateful for it now. Thanks for your help. I am just taking things slow and back testing along with journaling all trades and possible set ups to see where it goes and what I should do different
Thanks for the positive feedback on our School! Yep, the quizzes were a new addition when we revamped so I’m glad to know you’re finding 'em useful. Good luck!
I guess one area to think about if not already decided, are which time frames suit best and whether to use one TF or multiples. 5M, 15M, 30M, 1H all seem possible and could be used individually or in combination. Although you do not use MA’s for position signals you could use them on a longer TF to identify the direction and strength of an underlying trend to help evaluate the likely success and extent of a move on a lower TF.
