Hi everyone,
Sorry if this sounds like a stupid question.
There are so many forex strategies out there.
Just wondering if anyone would have any advice on which strategy to start off with first?
All your advice and comments would help.
Check your private messages for a good one for beginners.
Iāve found that as a newbie the easiest strategy to understand and have success with is Moving Averages.
Candle sticks.
Reel in the pipsā¦ baby
Show me show me
Price action using only support/resistance and candlestick formations would be a nice place to start
http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action.html
Cheers!
Show me show me
Done. Check your messages.
Hi Dudest,
I really like this link you sent.Really great information.
i will read through it.
Are you using it to trade?
I would test strategies out for yourself before you start losing yourself real money.
Look at a chart for hours on end every day.
Channel trade.
Use the Donchian, Turtle, or Smith methods. One of the most profitable systems ever. Has been working for decades, and requires very little screen time for its profit potential. Of all the systems I use it is the most profitable.
For Donchian rules I canāt help (donāt use them), but for Turtle rules get Curtis Faithās āThe way of the Turtleā and for Smithās rules get Courtney D. Smithās āHow to make a living trading Foreign Exchangeā.
Thanks dudest!
Can you sent to me too ā¦ would like to learn also
Itās one of my favourites too.
My trading style is āFundamentally Driven, Technically Executed.ā I mainly use fundamentals to decide whether I should take a trade position. I do use technical indicators too to decide my levels of entry and exit.
If I enter a trade position for a trend setup, I use Exponential Moving Averages (EMA) to determine my entry and exit.
If I enter a trade position for a range setup, I use the Stochastic Oscillators to determine my entry and exit.
On top of that I take note of obvious support and resistance levels.
Itās already been stated; but I would like to second Price Action. I had a difficult time making things work until I embraced that relatively simple approach. And, on the plus side, much of what you learn in it can be applied in other systems if you decide you want a moreā¦ technical approach?.. I guess. Doesnāt seem like the right language really but ah well.
It is really important for us traders to wait for the right time.choosing a strategy is always an important decision to be taken at the beginning or at any point of your trading .A strategy goes according to the traders personality no matter how effective the strategy may be .if it does not work with the traders personality it will not profit your .Demo account are good source for checking the strategies and knowing the use of it.
Donāt forget to use your stop loss and take profit
It does not matter wich strategy you use, trading is a palm readin science, what works is to stay with winners as long as possible and with losers as short as possible. The rest is only opiate crap to justify the actions of some people.
will you send to me as well?
I am still only paper trading, and I donāt have consistent profits yet, so my system isnāt worth sharing, but Iām definitely interested in what others have to say. Iām also interested in whoās having consistent profits.
I use a really simple RSI strategy. It seems to be working out for me so far so Iām gonna stick to it.