I’m just starting out and I just want to ask what you guys think is a very simple strategy for a newbie trader.
I think MA crossover at H4 timeframe
SL at High/low
(Maybe 12ema vs 24 ema)
To my mind, it would be better to start with strategies based on trendlines as they would give trader an opportunity to practice trendline drawing skills which would be important and useful in future. It is necessary for the trader to be able to detect trends and draw appropriate trendlines as most of the patterns consist o trendlines either horizontal or diagonal. At the same time, the strategies of such kind are quite simple, so it would not be so difficult to understand and use them even for the newbie traders lacking experience.
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Simple strategies for any newbie trader -
- Moving average
- Learning time frame analysis
Makes sure that proper stop losses, risk-return ratios and profit targets are considered before moving ahead with real trading.
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according to me, moving average is more appropriate for the traders who are particularly newcomers. happy trading.
which strategy is more appropriate for newcomers it depends on trading performance, should focus also money management for avoiding unfortunate losses.
Follow long-term trends using daily charts. Enter on the reversal of 2-day or 3-day pull-backs. Limit account capital risk to 1% per trade. Set a stop the wrong side of the pull-back.
Don’t think about day-trading until this makes a consistent profit.
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risk to 1% per trade is very good and safe. but difficult to maintain it for all times , because most of the time market moves at random.
MA crossovers are great for newbies, also candlesticks (engulfing, doji).
Pick 2-3 strategies and get to testing. The impact will be that you will see how risk/reward plays out. Try the same strategy with different stop losses and take profits. This is really important for gaining experience.
If you can code you could use MT4 if not, or you want something faster CLEO.one or StrategyQuant.
agree with you , its really difficult to maintain risk ratio at all times.
Not sure what you mean, but I’d hate to think I’m taking more risk than I thought. What do you mean?
which methodology is increasingly proper for newcomers it relies upon exchanging execution, should concentrate additionally cash the executives for maintaining a strategic distance from awful misfortunes.
There are plenty of them on the forum, how do you go for trading ? Short one or long term ? Go for short for sure at the start of your pirsuit here. Do play only with min deposit amount, be prepared to spend some time to see if broker allow some withdraws when you want that.
success on any kind of trading strategy depends on money management , so we should develop our MM to bring good profit consistently.
Start with marking out support and resistance lines and only take trades when price is in these areas
Trend trading.
small lots.
Always Entry on pullback.
set stop loss, avoid large stop loss.
Check out ditto trade and babypips for education before jumping into strategy’s
@zianfx ,
You should check out this thread started by @Trendswithbenefits.
I think it would be one of the best places to start!
If you have time to study charts that would be tremendously beneficial but do not trade on anything lower than the daily time frame.
Good luck! Give us an update let us know how you doing!
KC
Thank you! Can you share a more specific strategy? Something with indicators if possible?
Start with the simplest approach. It can be used to make money but it can also become a component of a more advanced and complex strategy later.
The simplest chart pattern is an uptrend. It is identified by the simplest indicator, a single moving average. A very old way to run this strategy is to buy on the pull-backs. So you look for a chart on which price is above the MA and the MA is sloping upwards. You look for a bar (candlestick) with a lower high than the previous bar (or a number of previous bars), and you note that the MA is still below price and is still sloping upwards. so you set a buy order just above the bar’s high and a stop-loss just below its low and wait. If price resumes rising it triggers your order. If it doesn’t, your order remains pending and you can either cancel it or drop it lower when the ext bar with a lower high finishes. Make sure the potential loss if the stop-loss is hit is only a small percentage of your total account capital. Experiment with trailing stop-losses and target take profit orders.