A Rookie

Hello traders, I want to know how can we develop a strategy for our self? I am interesting in elliott waves, how can I improve my self in this method? I have almost read every source about this topic, yet I cannot do the right trade. Please tell me what should I do😕

have you tried youtube? i dont know much about elliott wave but i find a lot of good videos on there about other stuff, i guess practice is key to getting it right.

right, youtube is the best way to learn, you get visual examples of the strategy and how it works,

I have watched so many youtube video and read so much over 5 years and still I don't really have a firm strategy that works. I do not know if I every will (or anyone else really has a winning strategy)

DeutschDom posted:
I have watched so many youtube video and read so much over 5 years and still I don't really have a firm strategy that works. I do not know if I every will (or anyone else really has a winning strategy)

before wasting 5 more years, try to get yourself into fundamental analysis, few months and your results will improve a lot

Elliott Waves are an advanced topic and not where a beginner trader should be starting. I advice you do as Gabor says above...

A trader can either follow the footsteps of successful traders who are developing their own trading strategies or he can try to develop some trading approaches for him as per his knowledge and expertise level. Usually if you are a beginner, then pro traders suggest that try something completely new can be risky. Rather it can be better to acquire basic understanding with the adoption of established trading strategy here.

Most youtube videos are secretly trying to sell you some scam. I wouldn't trust anything that they say. Go find a proper trading course not some joker who claims to know what they are talking about

Amirzayyani posted:
Hello traders, I want to know how can we develop a strategy for our self? I am interesting in elliott waves, how can I improve my self in this method? I have almost read every source about this topic, yet I cannot do the right trade. Please tell me what should I do😕

Hi,


If you wanna develop a good strategy, begin with knowing which are the best currencies ( Fundamentals ) to trade on any given day or session. The technicals are just for entering and exiting the market. If you know the reason behind the move on any pair, you get the conviction to buy or sell any pair with a high rate of success!

Jedimaster1 posted:

Amirzayyani posted:
Hello traders, I want to know how can we develop a strategy for our self? I am interesting in elliott waves, how can I improve my self in this method? I have almost read every source about this topic, yet I cannot do the right trade. Please tell me what should I do😕

Hi,


If you wanna develop a good strategy, begin with knowing which are the best currencies ( Fundamentals ) to trade on any given day or session. The technicals are just for entering and exiting the market. If you know the reason behind the move on any pair, you get the conviction to buy or sell any pair with a high rate of success!

It takes such a long time to build a good trading strategy! In my trading, I don’t use any indicator based trading style! I am dealing with Price Action trading.

There are lots of good articles on youtube. I would also recommend Babypips to new traders. Also make sure that you test new strategies etc on demo.

steveday1976 posted:
There are lots of good articles on youtube. I would also recommend Babypips to new traders. Also make sure that you test new strategies etc on demo.

I wouldn't strongly recommend YouTube videos because they are too biased sometimes and some information just fall flats. But I am sure there are other good one out there.
And yes, babypips School is really a good place to start with.
Also, if it helps, keep a journal with you every time you try to trade, whether it is in a demo or real account.

i was actually looking for some good youtube channels. will check the ones listed here. thanks.

for newcomers live account can be a dangerous decision,
 because they cant control emotions when trading.

the result of any kind trading strategy depends on your money management, if not there is no real chance to bring good result by using any good strategy.

You can get good results with good strategy even if bad money management but not the other way round

Without good money management you will be doomed to failure

This resource contains a lot of useful information, but not everyone can use it correctly.

Treeny posted:
Without good money management you will be doomed to failure

Exactly many traders tend to neglect the significance of money management which results in a total wipeout of their trading account sooner or later.