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What is the best strategy used as a new trader?
Jan 24, 2021 at 19:52
My main strategy with being a new trader has been with using price action through top down analysis along with support, resistance and trend lines. Ive been thinking about adding some indicators as well as so far started using the EMAs. In the future im thinking maybe Fibonnaci can help with catching more accurate retracements. Anyone else have experience with any indicators they think are really good to start off with? Or implement them in their price action strategy? Just wanting to get some input and ideas!
Reinvent Your wheel ~ Its not about the cards you've been dealt, its how you play them!
Mitglied seit Jul 20, 2020
286 Posts
Jan 27, 2021 at 21:41
ddarko3 posted:
Price action is good but it can be inaccurate. Just try MACD and RSI + always setting stop loss in your trade
Yes, you are right you can use this element to get the basic idea first.
Mitglied seit Jan 13, 2021
50 Posts
Jan 28, 2021 at 19:18
I find rsi a really good way to trade and scalping
Mitglied seit Jan 22, 2021
126 Posts
Jan 29, 2021 at 17:05
I think you are pretty well versed with the analytical tools so i would suggest that you should test your new strategies with indicators on a demo account. This helps you to retrace accurate findings that help you to trade.
Mitglied seit Jan 17, 2021
29 Posts
Jan 29, 2021 at 18:50
test every system you can read about...but test it in real account...have a very high leverage in your account, but use the lowest leverage possible in your trades. Be patient.
Mitglied seit Jul 20, 2020
286 Posts
Jan 31, 2021 at 01:47
New traders should usually work with indicators to know the basics. Basic concepts need to be created by analyzing different types of indicators such as moving average, RSI, Bollinger bands, etc.
Feb 03, 2021 at 11:37
No strategy is the best strategy, I believe every individual has their own trading style and trading strategy as per their investment and their expectations.
Most of the people change their strategies very quickly, it takes time and effort to make the best strategy. Test your strategy before investing. Stick to your plans, learn from mistakes and keep improving till you succeed.
Most of the people change their strategies very quickly, it takes time and effort to make the best strategy. Test your strategy before investing. Stick to your plans, learn from mistakes and keep improving till you succeed.
Feb 04, 2021 at 10:54
ddarko3 posted:
Price action is good but it can be inaccurate. Just try MACD and RSI + always setting stop loss in your trade
These both indicators are very good because they give us the correct position of the trade and when to enter/exit.
Mitglied seit Nov 10, 2020
19 Posts
Feb 05, 2021 at 06:04
I think position trading and day trading can be techniques as well as strategies because they are very similar. A position trader would keep the position for as long as possible and a day trader would not keep any security overnight because he will trade all the security as soon as possible.
Feb 05, 2021 at 10:17
PercymcDonnell54 posted:
I think position trading and day trading can be techniques as well as strategies because they are very similar. A position trader would keep the position for as long as possible and a day trader would not keep any security overnight because he will trade all the security as soon as possible.
Slippage becomes a considerable factor when we day trade because if the spreads are high we can suffer loss. The brokers also become very important in your strategy because spreads and leverages are offered by brokers. When I started demo trade to test out the brokers I finalized on Fxview and Robinhood because they fit into my strategy. So do think about the brokers.
Mitglied seit Nov 10, 2020
19 Posts
Feb 06, 2021 at 05:44
josejames posted:PercymcDonnell54 posted:
I think position trading and day trading can be techniques as well as strategies because they are very similar. A position trader would keep the position for as long as possible and a day trader would not keep any security overnight because he will trade all the security as soon as possible.
Slippage becomes a considerable factor when we day trade because if the spreads are high we can suffer loss. The brokers also become very important in your strategy because spreads and leverages are offered by brokers. When I started demo trade to test out the brokers I finalized on Fxview and Robinhood because they fit into my strategy. So do think about the brokers.
Yes absolutely slippage and spreads are the real deal breakers while choosing a broker.
Mitglied seit Aug 27, 2017
875 Posts
Feb 08, 2021 at 10:27
Forex market or forex trading i think is completely secure but
it depends on your broker performance , because without a broekr you cant a trade at all.
it depends on your broker performance , because without a broekr you cant a trade at all.
keeping patience.......
Mitglied seit Jan 22, 2021
126 Posts
Feb 12, 2021 at 11:15
I always use bollinger bands to predict the movement of currency pairs. Along with bollinger bands I use MACD and RSI to get the clear idea of overbought and oversold volumes. Combination of these three always helps me too keep my trade success around 80%.
