What is the best strategy to use as a beginner

What is the best strategy to use as a beginner

Welcome to trading.

The good thing is you are looking for a strategy - many new traders just think they’ll wing it and with a bit of luck make a huge amount of money and then look for a strategy, becasue now they have a lot of money so it’s worth taking care of.
That approach is also known as “Ready, Fire, Aim!”

There is no textbook guaranteed strategy for beginners but look for some pointers -
daytrading is very difficult - maybe longer-term trades might be more reliable: give yourself time to plan
there’s no evidence that the more indicators a strategy has, the more money it makes
charts are a useful guide but they’re not a crystal ball
there will be many losing trades so plan that they will not be too big while you’re still learning and making mistakes
the shorter the time-frame the bigger the spread
never go long simply because price has been falling: never go short simply because price has been rising

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The best strategy for a beginner is to learn properly and not look for shortcuts.

Start here.

Hope to save you some years… strategy to enter a trade is irrelevant. Any quantifiable strategy that would produce an edge has been discovered and algo traded any edge away.
Choose a system that works around you and your schedule and base around that.
Risk management, position management, macros(trend) over everything.

If you want something easier, good strategy is an account of 10 expert advisors with non-correlated returns.

Open a demo account with a regulated broker. Use this to practice and experiment from what you are learning from this site. Aim to be comfortable with what suits you and your lifestyle before attempting to open a live account.

Understand that FX trading is simple but not easy, and it could take at least a couple of years before being successful. As at no cost, from a pro trader, Google tradertom.com

Best of luck.

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The best way to start is to try to identify where the easy money is. Pick a style of chart you find easiest to look at -1min, 5min, 30min etc. And identify the biggest moves on those charts - the times where if you took any position in the direction of the momentum it would be tough to lose. Then try to build a system that identifies what happens immediately before these moves. Does price hold a support area? Has it jsut broken out? What times of day is it most common? You want to be trading as often as possible under easy circumstances where the edge is really big.

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As you can see from the variety of different answers you are receiving there is no such one single thing as a best strategy for beginners. Because everyone has given you different advice already. A further search on any internet search platform (google, YouTube, etc) will add to confusion offering almost unlimited opinions of what is best strategy for beginners.

Really summing up everything you want to find a way to trade that offers a reliable, proven, trustworthy statistical winning edge.

Wishing you all the best in your journey.

I’ve found that the best beginner strategy is to keep it simple. Focus on understanding market basics and stick to one asset class initially. Use straightforward technical analysis tools, set clear entry and exit rules to manage risk, and practice with demo accounts to gain confidence. Remember, patience and consistent learning are keys to long-term success :wink:

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let’s see if OP comes back!

Every beginner has the right to choose his own trading strategy to use. Some people like to work with indicators, creating indicator trading strategies and trading according to their data. Someone learned to trade without indicators, using trend lines, channels, support/resistance levels, and candlestick patterns. Everyone chooses their own path of development and trading.

You officially put me on trader tom. Trader tom showed me mr al brooks, that guy is great!!

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When I first started trading, I was overwhelmed by the variety of strategies out there, from day trading to swing trading, scalping, and more. It felt like navigating a maze without a map. Based on my experience and what I’ve learned from various seasoned traders, the best strategy for a beginner is often the simplest one: Buy and hold.