New traders, what's the hardest thing right now?

[miyagisword]

I’m still struggling with find a strategy to trade. Are you having the same problem or something else is even a bigger problem?

[Jimmy_Thucydides]

@miyagisword

I’m still struggling with find a strategy to trade.

I’m guessing that you haven’t yet read Tushar Chande’s book “Beyond Technical Analysis: How to Develop and Implement a Winning Trading System”?

I think you might find it very helpful. A lot of people who read it find ways to solve that problem not long afterwards, once the material in it has “all sunk in”.

@miyagisword

something else is even a bigger problem?

Deciding which prop firm to try, to come up with a virtual trading fund that will pay me out some profits is my current problem, but I think probably not a terrible one, and certainly not a permanent one.

[SchmaltzHerring]

@miyagisword

I’m still struggling with find a strategy to trade

This thread might also help with that (just as far down as June 2024 - no need to read the rest, 11 or 12 of the last 16 posts there were junk bot posts, but the early parts of the thread have helped many people!) : -

Trading while working 9-5

most charts are fractal, most of the time this means that with probably only two exceptions, strategies are mostly not time-frame-dependent typically, slower charts produce fewer trades but higher win-rates (this is just factual, really - can’t see anyone arguing with it) [the two exceptions are: first, real scalping and HFT (you wouldn‘t do this anyway, so it’s not relevant here?); secondly, time-of-day-specific strategies such as opening range breakouts (you probably wouldn‘t do this, eith…

[StartGoldTrading]

Can you share with us a little more on the types of strategies you have tried and why did it not work for you?

[BenjiiiCOH]

I wouldn’t say I’m struggling with a strategy—I’ve built a solid approach based on capital allocation, patience, and technical precision. The real challenge is discipline in execution.

[pink_hat_trader]

@BenjiiiCOH

The real challenge is discipline in execution

Can you automate that part, if all the far-more-difficult parts are already taken care of?

[FranziskaSchulz]

Well you should first decide for how long would you like to keep your trades open, and this only depends on your lifestyle, after that you can find strategies for that and then back test them and choose which one is for you based on the winning ratio and the profit gained

[miyagisword]

@StartGoldTrading

Can you share with us a little more on the types of strategies you have tried and why did it not work for you?

Some MA cross over stuff. I tried one with MACD as like the main indicator. I even looked at Ichimoku, but that got so complicated I stopped trading it.

[miyagisword]

@FranziskaSchulz

Well you should first decide for how long would you like to keep your trades open,

yea that’s a good idea, thanks. I tried trading on the daily timeframe. Man that was so slow.

[StartGoldTrading]

Here’s my personal opinion, after testing all sorts of indicators like MA, RSI, Bollinger bands, Stochastic Oscillator, MACD and a few more, I went back to just price action and marking out support and resistance zones.

That worked out for me. I would recommend that for everyone starting out.

All the best with your trading in 2025!

SIA