Best strategy for a beginner?
@CortneyWilliams, welcome to the world that is Forex Trading. I am new to the forum but will try to help as much as possible. I am also somewhat new to trading and know exactly what you are talking about. I am only using simple strategies right now. Mainly TrendLines(to show support and resistance), EMA and an SMA plus Bolinger Bands.
I think the easiest strategy is the SMA (30). Every time price crosses it that signifies a buy or sell. I have posted a chart below so you can see what I am talking about. Let me know if you have questions on it.
As far as I see nobody except you knows what strategy will suit you best.
I think the best one for begginers to open just short positions, use the smallest lot you have and have a lot of info as much as you can. I am learning every day and every position gives me a lot, so i hope good luck, and want to add that there is no perfect strategy it is the myth, just try to do what will give you the profit!
Start learning common indicators like Moving Average, Stochastic MACD etc.
Usually strategies are based on these indicators.
Thank you so much guys for giving your honest advises..
...its greatly appreciated..till then..
it seems that you are quite and a new comer in this fieldand you need guidance.replaying to your question,in order to be a successful trader you must have both money and experience.so first you start learning about the basics of this business which can can be obtained from the internet.after getting good knowledge you start learning pracctical knowledge by trading on demo account.and then after some time when you think that now you able to start real account then you start but with small investment because in the beginning every trader is vulnerable to lose the money.
You know, if I may ask a question, I've always wondered how a person "creates" a strategy... where do you even start?
Trading strategies in the Forex market are as numerous as the traders themselves. Beginners who enter the market have many perceptions of their own about how trading should be conducted. Although this is the case every beginner develops his own style of market evaluation and trading strategies in the profitable Forex market. There is lots of blogs and articles available on the internet for learning forex trading strategies, you should find there, and read blogs of forex traders and their opinions about it.
Demo account is important as preparation before we entered into real account so we can prepare all things which
is needed to trade in real account. But demo account could only prepare before we trade in real account technically,
we can't learn psychologically from demo account.
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Hi, I only started trading in Forex and I've only used stop loss and take profit risk management options.
I've not really used a known Forex strategy. So, I was wondering what's the best strategy for a beginner? Something that is simple and easy to understand.
Regards,
Cortney