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.
First step for beginners is learning their all concentration should remain on earning even if they are doing real trading. I will recommend micro accounts where their loss will less and learning will valuable with real trading.
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%.
blackChelsea posted: 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%.
The best trading strategy is the one you create for yourself. It is a bit difficult if you are a beginner, and if you are an experienced trader, then you already have some future strategic developments.
Basically, you have to create your own strategy. For new traders if you just recently have joined a broker, then you should go to demo account and just open positions, long or short, it doesn't matter. It's the best strategy and simultaneously you should learn theory about trading. When you will open positions, you will start noticing regularities on the graphics and gradually you will be able to start to understand some feature of trading activity. After you will gain enough theoretical knowledge, you will create your own strategy and you will have to test it on demo account. Guess that it's enough for a new trader.
Although you will get a good solution from Google. Yet I can give some ideas. There are some strategies you can use, such as having an idea about the news and thinking about the news effect, following the swing strategy, following the support/resistance level, understanding the market sentiment. Trading will not be so difficult for you if you can form an idea about these.
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