I’m gonna jump right to my question then layout what I’m wanting to accomplish. So to start I’m looking for some resources to learn trend continuation strategies. So any suggestions or direction is much appreciated!
I’m new to trading and have been watching, listening, and reading about anything that I can find forex related. I’m really enjoying learning about everything and looking to find what style of trader I am/want to be. I know I have a tremendous amount yet to learn but I’m starting to see what things speak to me. That being said I’m at a point that I think I’m ready to move on from learning very broad aspects of the market and start looking into more specific things. I don’t have a trading plan yet, but I am seeing the rough outline of one. I’d like to share the very broad strokes of it because I believe that putting it out into the world is important.
So, very broadly, I would like to have in my trading plan, trend continuation, counter trend strategies, and advanced patterns (cypher, gartley, and bat). I feel that with these three skills I’ll be able to have a very rounded out plan. I’ll be able to trade when the market is trending and when it is ranging.
I know I don’t have the time to really focus on lower time frames, so I will look to trade on the daily, 4hour, and 1hour charts, and with some future testing maybe look into the 8hour and 6hour.
I still need to figure out what pairs I want to focus on.
From what I’ve been seeing and learning, I think trend continuation feels like the easiest thing for me to start with. Thus my question asking for resources from the community on learning more about it, in hopes of coming upon something that I can make mine and put into my plan. Once I have the skill of trend continuation, it just seems to me to make sense to add counter trend strategies so I can have more opportunities to make money. Followed by the advanced patterns I mentioned above.
This is basically how I want to continue my forex journey. As I learn about trend continuation and start seriously testing what feels right to me, that’s when I will start keeping my own spreadsheets to track my wins and losses and other pertinent information that I want to track. I will then move on to forward testing that only. Once I’m forward testing trend continuation, I’ll start looking at counter trend strategies, following the same plan I do for trend continuation, and then look at advanced patterns doing the same work.
I am not putting a time line as of yet for how long I will demo trade, but I don’t believe that I will be trading live for at least the next three months and probably longer.
Once I’m forward testing I will be looking at money/risk management, and only trading sizes that I’ll be able to trade when live.
If you’re still reading this, sorry it’s so long, but I really appreciate your time and if you have any input let me know, I’m pretty open to suggestions in order for me to learn from.