hello people. i’ve currently finish roughly the basics of trading. know a bit about MA, MACD, stockhastics, RSI, CCI, bollinger bands, parabolic sar. but i don’t really know how to put it to good use. i searched online and found many strategies and courses. but they cost a bomb. and we don’t even know if they really work. i relaly don’t know where to go now. i don’t want buy those costly products. do i really have to? are there anywhere i can learn to create good strategies for free? or is there anyone providing profitable strategies out there for free? i use to practice short timeframes on demo, but i feel that it’s not that easy to find the trend and catch it. so i moved on to longer timeframes. anyone suggest i should stay on shorter time? thanks in advance.
Here are a couple of applications of those technical tools:
Free Forex Trading Systems: Review & Share Currency Trading Strategies
of course, you can always develop your own system too!
You can find strategies throughout the forums here. They are a great place to start.
Try following people on meetpips.com and see what strategies other people use.
Regarding time frame, it depends on the strategy but I would say 15min is the absolute minimum. Personally I stay on 60m and 30m. A good strategy doesn’t rely on any single time frame.
oh… so i can just go around this forum, should be able to get something?
i see… thanks the the advise, will look more into it!
Yes there are strategies littered across this forum.
are there a few you can recommend?
Sure
http://forums.babypips.com/free-forex-trading-systems/727-cowabunga-system.html
http://forums.babypips.com/free-forex-trading-systems/30814-koala-system-newbie-friendly.html
I would recomend nickb site; forex4noobs.com
Great site with loads of helpfull people around
Kinda follows the idea behind the babypips site, loads of free stuff, interesting forum and trade ideas in form of blog posts (please DO read the free E-books -yes plural- before taking any trades mentioned there).
Would also recomend Rob Bookers site and his free e-books, funny guy with some good advice robbooker.com/index_ebooks.htm
Sadly hes started selling courses and whatnots now, not like in the good 'ol days… oh well. At least those e-books are still free.
Best of luck to you!
I totally recommend you the course at invest-fx dot com. There you’ll find all of the information gathered in one place, explained in a simple way. You’ll get to know what to look for on your charts, and how to apply your tools in the market. Pure price action. That’s the way to trade.
No need to look for the ultimate indicator. They lag. Focus on learning to read your charts.
Don’t underestimate the School of Pipsology. You probably don’t find a practical use to all the information right now, but once you get some experience in the market, you’ll always come back to it to clear some things up from time to time.
Once you’re done with the course, check this thread out. There you’ll find a practical use for all of the information that you just have learned. And from there, you’ll be able to build your strategy.
http://forums.babypips.com/free-forex-trading-systems/6632-alternative-technical-templates.html
Hope that helps.
thanks. thank god its saturday tommorrow. i’ll stay in front of the screen the whole day.
really? i can learn how to trade on PA there? thanks for the site. i’ll check it tomorrow. i’ve always read on indicators. this weekend i’m going on PA~
what you said is really true. i only browsed through it. never really going into detail. ha ha. now i’m always, where did i read that from? what does it mean? then i found it on babypips.
alright!~ i’ll check it out. cant wait to end work and get home now! thanks again!
http://forums.babypips.com/free-forex-trading-systems/6632-alternative-technical-templates.html
Hope that helps. :)[/QUOTE]
Your thread title is interesting. You are imaginative person.
A ticket to other island… interesting analogy. Keep your creativity.
Sometimes, if you come across a good system, don’t be afraid to invest. It is a process of your trading success path.
Hope that you are not getting stuck too long in Newbie Island if you plan to get out of it
haha. i just want those who are on newbie island to find out the way to get to the forex trading world. some of us are just stuck on the island finding ways to get there, but we’re just digging holes on our island, hoping the island will float next to the forex land. and this can be a communication for the pro to show the new ones that they have made it and newbies can too. they just have to do the right thing like building their own boat if they can’t find the ticket counter.
Are you sure you want to buy that ticket? You need to be sure.
The seas are rough out there & full of sharks.
Or going by air there is turbulence, storms, etc.
Either way it can be a long journey, not just hours but weeks, months, even years of heavy weather, until it becomes plain sailing. You may never see land again!
Best of luck enjoy your journey. muhaha!
Please travel with Forex Travel again, have a nice day now.
Sure. you are also thoughtful. So you also want to help other to advance to another level instead of sticking to Newbie Island.
So thoughtful of you
HAHAHA! i know there are lots of sharks out there. and the danger we will face. but if there are nice people anywhere that are willing to guide us, we will be taking a route to avoid all these dangers. although some danger we can’t avoid, but at least we will be guided what to do when we face such dangers.
its okay if we get out there and doesn’t get there. being on the newbie island is not better than being out the the sea facing danger. at least we face danger and learn from it. but on newbie island, what we will learn is only something people picture in our mind, not really facing it “live” ourselves.
nah… i’m not good as you think. i just want people to advance to the other island so that there will be more people on the Forex island and making the island more populated and will one day move up a standard.
let’s just hope people from Forex Island get our Help message.
What do you hope to learn from nice people, who are food for the not so nice sharks?
Think about it.
Trust me, there is no express to the other islands. You’re going to have to cut down some palm, tie them together with hemp, and sail across the ocean in your skimpy raft.
Trade small until your confidence grows. If you ever feel like you don’t know what’s going on, close all trades and go back to trading small.
Focus on how the market gives clues about its intent to move in a particular direction. Focus on how you react to movements in price, how you react to various levels of profit and loss. Start building a consistent way of entering, managing, and exiting a trade/position, based on market patterns that you can distinctly identify and that you believe are repeatable (from experience).
Do what you think will consistently get you on the right side of the order flows, and as a byproduct, in profit.
Remember there are no certainties. Imagine the trade goes in your favour, what will you do, where will you exit, where will you add more lots? Imagine the trade goes against you, where will you exit, will you re-engage?
The more questions you can answer before you have hit your buy/sell button, the closer you will be to the consistency you so desire.