I have a doubt and I cannot sleep with this babypips tells me to have a unique trading strategy for a newbie and to do a backtesting but I see that later I see that there are chartist patterns shoulder head shoulder, triangles and other figures
and then I tell myself and what strategy am I going to use with so many things
Helloooo! I feel youuu. I also had so much trouble trying to choose a strategy for me. But I tried out the HLHB system here, because I thought it was pretty simple and would work well for a newbie like me then. I’ve tried a few more strategies since but it might be helpful to start with one that’s already been tested by an experienced trader here.
Some chart patterns take multiple bars on your chosen time-frame to develop. This means you get lots of time to plan an entry and stop-loss level, for example with a head-and-shoulders that takes 30 or 40 or 50 bars before you get an entry signal but it isn’t getting you anywhere fast in either development or profit-making.
Maybe look for simpler, more common, shorter development objective patterns using candlestick formations?
Remember the simplest chart pattern is a trend. Don’t lose sight of these.
I think it’ll be hard to come up with your own trading strategy right off the bat. I follow @tommor here and he’s always had great tips for simple strategies you can try.