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What is the best strategy used as a new trader?

BrandiHeartsFX (bgaymon1)
Jan 24 2021 at 19:52
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!
ddarko3
Jan 25 2021 at 08:41
posts 70
Price action is good but it can be inaccurate. Just try MACD and RSI + always setting stop loss in your trade
LeviSievwright5
Jan 27 2021 at 21:41
posts 298
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.
dutchy1986
Jan 28 2021 at 19:18
posts 50
I find rsi a really good way to trade and scalping
EbonyJones
Jan 28 2021 at 19:37
posts 232
Most traders lose their money because of using the wrong strategies.
Chelsea Blacks (blackChelsea)
Jan 29 2021 at 17:05
posts 125
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.
TR4DEX
Jan 29 2021 at 17:35
posts 88
The problem is new traders move from strategy to strategy too quickly. Find a strategy that fits your trading style and perfect it. Learn to be a better trader.
Give the best strategy to a bad trader and they will still lose money.
Vanza Dorbey (vanzadorbey)
Jan 29 2021 at 18:50
posts 31
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.
Damayanti
Jan 30 2021 at 13:27
posts 15
i use just over buy and over sell RSI That its
LeviSievwright5
Jan 31 2021 at 01:47
posts 298
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.
ahmad2020
Jan 31 2021 at 11:08
posts 1
Damayanti posted:
i use just over buy and over sell RSI That its
that's it... big like
Shelby10
Jan 31 2021 at 17:32
posts 140
There are many types of strategies available in the Forex market. Among these strategies, I give the highest priority to technical analysis. Market context is an essential element for trading. If you do not know the market movement, how to make a profit from the market. First of all, you need to know if the market is volatile. It is not possible to trade in the volatile market situation. If there is an impulsive market, it can be traded.
forextrader777
Feb 01 2021 at 12:21
posts 128
The best strategy comes after acquiring proper knowledge and skill-set about the forex market.
KnowFinance
Feb 02 2021 at 11:11
posts 85
EbonyJones posted:
Most traders lose their money because of using the wrong strategies.
Yeah right, strategy should be built after the proper analysis of market and risks.
BrandiHeartsFX (bgaymon1)
Feb 02 2021 at 18:55
posts 3
I want to get more into using Fib retracement and MACD but am a bit confused on how exactly to use them.
Reinvent Your wheel ~ Its not about the cards you've been dealt, its how you play them!
MichaelEX
Feb 03 2021 at 11:37
posts 48
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.
josejames
Feb 04 2021 at 10:54
posts 16
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.
Gingerrogers
Feb 04 2021 at 13:25
posts 28
When we trade securities, position trading is one type of strategy. It is not a method but a strategy itself.
PercymcDonnell54
Feb 05 2021 at 06:04
posts 23
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.
josejames
Feb 05 2021 at 10:17
posts 16
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.
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