Newbie Trader looking for some solid advice

Beginner Questions
1

Hello all!

I am new to FX trading i know you are all going to hate on me for this but as a newbie i am totally confused with which systems to follow.

I managed to flip a few practice accounts on IQ option using 5 min time frames on bollinger, but i dont see any stability in this. I am ready to open a real account. Can anyone point me in the direction of a really simple trading strategy on 1-5 Candles (Scalping)

Thanks in advance!

2

Everyone will have an opinion. One thing that stands out from your post is that you may not want to trade a live acccount yet. I suggest that you have not already done so you should do the school of pipology on this site. This will get you off to a good start.

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3

hey
use forex.com as a broker
you can use 200 moving average on 1 hour - 4hour chart
you not going to go far with scalping

4

what about the 5min chart?

5

My advice for you would be to not look for any systems, but instead to try and understand the market’s behaviour…

6

Trade on higher time frames. Small time frame trading will remove the patience from you and that is key factor if anyone want to survive in forex market for long term.

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7

Yep, I would stay from scalping you are not a computer, the human mind has limits, I tend to look at minimum 15 minute charts.

8

Hi xeningti and welcome to the forum. First of all no one is going to hate you, after all the purpose of the community is exactly this - to help each other :slight_smile:
My advice to you would be not to open real account yet as most probably you are not ready. You need to gain enough experience and discover your own trading method and strategy. You cannot just copy someone else’s and expect to make constant profits. It does not work that way. Of course you could use other people plans and methods as a base on which you’ll build your own.
As for the time frames, perhaps as a beginner it would be better to use bigger time frames like 4H, daily and weekly. Of course, some strategies use multiple time frames but you need to test it first so you could figure out which way is easier for you. But focus on practicing on demo and put the idea for a live account behind for now.