Hello everyone,
Having finished the school of pipscology and opened a demo account, I have been struggling for days cause I don’t know how to start trading.
I want to build a strategy but since I have no experience I don’t what I can do but mix some random indicators and hope for the best (and of course hoping for the best is not what I want to do when trading). All my searches on the internet so far have led me to very shallow articles explaining only the basics (somewhat like some parts of what the SoP teaches).
But what I want is an article giving strategies with concrete indicators and concrete numbers, something like “use [INDICATOR1] with parameters [PARAMETERS1], [INDICATOR2] with parameters [PARAMETERS2] and [INDICATOR3] with parameters [PARAMETERS3], and then buy when [SITUATION1] or [SITUATION2] happens and sell when [SITUATION3] or [SITUATION4].”
I know everyone has their own mindset and goals therefore everyone has a different strategy that fits them. But I need a basis; after demo trading with this basis for a few days I will surely decide to change some parameters, get rid of some indicator and add another one. Then I’ll have my own custom strategy.
Can you guys recommend a concrete strategy or an article/video or any other kind of resource that could help me ?
Sowon
Hi mate, I think you’ve missed the point. Developing a strategy means you can try anything. So you can pick the first indicator you see or first video you watch, learn how it works and try it on demo. There is no set answer anyone can give you.
I would advise reading books and maybe even repeating the babypips course to look for a method that resonates with you eg swing trades, day trades, price action, fibonacci, indicators, fundamentals etc.
You can also try this on babypips where others have explained what strategies they’re using or developing;
https://forums.babypips.com/c/trading-systems/free-forex-trading-systems/15
Best of luck!
Thank you very much your reply !
I’ll take a look at that section and see if something inspires me.
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.
We could give you 10000 different advices but the point here is that you need to practice a lot on the Demo account.
Start with simple support and resistance breakouts… after a while you’ll learn about the fake ones. This is just an example.
Start by practice and that’s damn really it and nothing less entirely and possibly anyway. So do we want to…Nobody can give you exact guidance for that topic entirely and absolutely anyway on many reasons cause it’s compete advantage.
Hey there,
I also stuggled a lot with trading. I took the school of pipsology too and started demo trading not long after that. And despite all the strategies I never knew what strategy to go to. So I went to my father who trade stocks for fun and traded options in his youth. He gave me some advice and I also tried the Stochastic that he uses. I backtested this strategy and when I trade IRL on demo I had negative results so I changed my strategy and now I use CCI with RSI and Bollinger Bands that I found in a book. I also read more books on trading in general, not just forex, watched videos on Youtube and read forums. I tried scalping and now I day trade.
My point is, there is no correct startegy, nor correct way to trade. The best advice I can give you is to keep looking for your own startegy. Look at videos and read books on trading. One day you will find the way you like to trade (fundamental, technical, or both). If you really like trading (and not just want a get rich quick scheme) then you will find a way 
Thank you everyone for your replies.
I listened to you guys main advice and started trading with whatever indicators I found nice. So so far I’m trading mainly resistance levels and confirming with parabolic SAR and stochastics. I’m not doing too bad for the last few days, will see if it’s good on the long run.
Cheers