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What is the best strategy used as a new trader?
Jan 24, 2021 at 19:52
Miembro desde Jan 24, 2021
posts 3
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!
Miembro desde Jul 20, 2020
posts 286
Miembro desde Jan 13, 2021
posts 50
Miembro desde Jan 22, 2021
posts 126
Miembro desde Jan 17, 2021
posts 29
Miembro desde Jul 20, 2020
posts 286
Feb 03, 2021 at 11:37
Miembro desde Jan 21, 2021
posts 49
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
Miembro desde Nov 16, 2020
posts 12
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.
Miembro desde Nov 10, 2020
posts 19
Feb 05, 2021 at 06:04
Miembro desde Nov 10, 2020
posts 19
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
Miembro desde Nov 16, 2020
posts 12
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.
Miembro desde Nov 10, 2020
posts 19
Feb 06, 2021 at 05:44
Miembro desde Nov 10, 2020
posts 19
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.
Miembro desde Aug 27, 2017
posts 875
Miembro desde Jan 22, 2021
posts 126
Feb 12, 2021 at 11:15
Miembro desde Jan 22, 2021
posts 126
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%.

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