Good day fellow traders, as a beginner trader what are the expected criteria to look out for when looking for or setting up a trading strategy
Simple, objective, quick to learn, consistently profitable, must suit your life-style time commitments, must have known (and limited risk from losses that occur.
Hi, first of all, ask yourself, which kind of trading strategy you want to use ( automatic trading, discretionary trading, mixing both) and which time frame or time frames you want to use. Regards Greg
Okay I have a particular time frame in mind (H4 my preference) but base on automatic trading or discretionary trading can you please explain
Seems to fit better with the H4 timeframe
This is difficult, in order to shape it, we must feel for ourselves
Best to learn a proven profitable strategy used by professional bank traders. You can lean from Traders4Traders. They have some free learning content which I have studied and I’ve been trading with real cash for about a month now. I’m so happy I found their content. Prior to learning the strategy they teach I tried programming many mechanical trading robots and each one of them failed. This is because the market is not driven by technical indicators. They are just an indication of what happened in the past. The future is driven by the current news. In good trading times the Central Banks and economic data should be driving the market but currently covid19 is driving the market. You can find Traders4Traders on YouTube and they have a website too.