This totally depends upon the individual traders trading style to pick up the strategy so that it suits their personality, it will take time to find a suitable strategy.
I started a similar thread to this a few weeks ago and everyone that posted said price action is the best place to start. It’s simple yet effective if used properly.
The best strategy is price action with very minimal technical indicators. I have traded via this method successfully for a number of years. Nial Fuller at learntotradethemarket.com teaches all about price action and how to trade strictly by looking at what price is doing without messy lagging technical indicators.
I think that starting with strategy is ignoring vital aspects of the market unless you aim to be a pure technician.
It’s also where pretty much everything starts and ends. It can be overwhelming at first, but once the light goes on its quite simple and very very effective. Theres tons of Utube and articles you can access for free. I would start in this site lots of good stuff
Yeah I’ve been studying price action for a few days now and there is a lot of good free videos and material online. Forex school online is a good one. I’m considering paying for an advanced course but I haven’t decided yet. If price action is as effective as everyone says I don’t see the point in ever getting into indicators.
I took it and for me it was worth it. For the price you cant beat it. Lots of good stuff in members section,
Always look for other traders which have done the course. don’t fall into scam course. ( I did )
Yeah i’m probably going to sign up i’m hearing for the price they are the best. How are you doing now? Did it give you enough knowledge to form your own price action strategy?
True. It doesn’t matter what strategy you pick … There are tons of very profitable strategies out there. But key is to stick to the rules of the strategy. I’ve seen traders … they’ll enter based on price action strategies but then exit based on their emotions/feelings. Half the battle is to conquer your emotions … very hard to do … and only real trading will help you do that.
Only single MACD would be a great starting in Forex trading. I used it my starting of trading. It really works very well. In daily chart when MACD cross the line and go up create a buy entry with TP 50 pips, SL 50 Pips and when MACD cross the line and go donw create a sell entry with TP 50 pips, SL 50 pips. It really works very good. Success rate? 90% above. I practiced it demo more than 6 months. Till now I am using this very simple method only in daily chart and getting winning result.
Price action ,no indicators, just candles trade the box ranges and confirmed breakouts.
What is a conformed breakout usually price will break out of a price range then comeback and retest that break before moving in the direction of that breakout on candle confirmation after the retest then you open a trade going in the direction of the breakout placing the stop at top of the confirmation candle.
Box ranges are when the pair has a defined support and resistance area you go short at resistance on a confirming reversal candle and you go long at support once you get a confirming reversal candle just remember the markets trend 20% of time and stay and box ranges 80% of time and always look for the confirming candle never jump on board prematurely or you’ll get kung fu’d.
Can you sent one copy to me pls? Started trading last week.
In my trading I always try to sqweeze my expenses. So I trade the instruments with lowest spreads, I trade in the direction of positive interest swap (I get paid for every day I stay with open position) and lastly - I keep my positions for days or even weeks.
… and I choose brokers who give bonuses:)
Hi there, I’m also a newbie. I read a couple of books about the Forex and just trying Bollinger bands, b% and 5point patterns.
We will see how it goings, right now I’m entering short AUDUSD @ 0.918 S/L .9205 & T/P .9115
Hello, I’ve been trading demo since last year and I’m winning but when I traded live account I always lose (I think I’m not that prepared for live account just yet) I still consider myself as newbie so any keypoints or any strategies you can give me about tradi
Start trading a micro account. Put anything inside. Even 5$ will do. Good luck.
Hi mate, i found myself dealing with the same issue, making millions in a demo account long ago and now looking my live micro account as a war zone full of hits and red transactions everywhere
Personally I studied and read about most of the strategies out there while trying to build up my own unique strategy.
Find what work for you!
Check out what you are doing differently. Keep a journal and analyze your trades at the end of the day or week. Write down the emotions and the reasons behind every trade.
Are you maybe overtrading?
Are you maybe revenging?
The beginner's guide to FX trading