Hi, I’m not ready new to trading, have read up on forex and been trading for about 3 months. But nothing seems to work as my indicators doesn’t seem to work together. Can someone please guide me?
Hello Kimtai93,
Learning how to trade forex can be a difficult and frustrating task, but luckily you found babypips!
First off, read up on the school of pipsology if you have not, it covers almost everything you need to know about trading forex. If you have trouble with mixing indicators together, you may be reading them wrongly. Learning how to use indicators alone will not get you far in trading, money management and trading management are equally, if not more important than technical knowledge.
After you’re done with the school of pipsology, go to the free forex trading systems and check out other traders’ techniques. Take note of why they trade like this, what indicators they use, what timeframes, what is their entry/exit and their risk:reward ratios. Also look at the comments of the people in the thread, sometimes helpful people will suggest improvements or post their backtest results.
And finally, don’t forget to do your own backtesting. There are trading simulators around if you google it, or you could just plainly eyeball your way through. Though, the most effective form of testing is live trading with a demo account IMHO, might not be the most efficient, but effective. One rule I always is; I always make sure I can double my demo account with my trading technique before I move on the a live account.
This is just my 2 cents worth, I have been trading for around 7 years and I know how scary the world of trading can be. Have fun, read lots, and most importantly - be humble.
May the force be with you… I always wanted to say this
Your first sentence is the most revealling.
“I’m not really new to trading”…“been trading for about 3 months”…
Going purely off what you posted, I’d say you’re even newer than new to trading.
I may be off-base, so please don’t hesitate to correct me if I’m wrong.
Have you ever ran a marathon before?