Do you know of a simple strategy or trading system for a beginner? It would be nice if it works well for different time frames.
I haven’t tried it, but BP has a super old system that they traded for many years and it’s been documented and updated by other members. Give it a look.
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Many simple strategies exist. Often quick to learn and easy to try out. There are lots of variations to each so demo trading has got to be recommended.
The simplest strategy I can think of is the fractal trading strategy by Bill Williams. It generates a lot of signals and can give great rewards: but many signals are false and many are against the trend so risk management is critical.
The basis is (for buying) -
- identify a candlestick or bar whose high is higher than the two before it
- wait for two more bars - if these have lower highs than the third bar you set a buy order at the high of the third bar
- set a stop-loss at the lowest low of the five bars
- after that you’re on your own.
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You been given good advice your in the experimental time of your trading career.There is no rush, just keep testing different strategies on demo
Frankly there is no easy option of money making in Forex! If you wanna success here try to learn the language of your trading chart; it’s difficult but not impossible actually!
I believe, new traders need to focus on the basic of technical & fundamental analysis, afterwards they should go for the advance level; so initially they shouldn’t need to follow any particular trading system!
Honestly, there have so many simple trading systems but the fact is, most of those systems are meaningless! Making money isn’t an easy option here!
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So true, you can’t make money by only technical indicator based strategy; to be a good trader we need proper knowledge on chart reading & the fundamentals!
Lol bahaha
Start with learning to control your emotions at all cost, and make sure to use the lotsize commensurate with your capital, don’t over trade.
Even the simplest strategy is not simple when we try it for the first time I guess 
It just becomes easier as we keep practising and get some experience.
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You’re right of course. I trade off the D1 charts and whichever approach I use, whether its getting in on a pull-back or a break-out, I make sure the position will be following the main trend. Simple to apply such a filter to any entry signals your TA throws up: trend-following filtering gives me a better win rate and the possibility of pyramiding but it costs me the possibilities of earliest entry into a new trend and dramatic short-term gains.
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@tommor My strategy is also based on following the trend. I have tried going against the trend in the past but it didn’t work for me 