What's the best trading system for a beginner?
This is a question asked by so many newbies to me so i try to ans this question in this thread....
The best system for you is probably the one you make up for yourself.
This takes a lot of time and effort.
This process usually involves buying, looking for and testing others' systems anyway, despite the advice, and realizing the truth of my original statement after years of failure.
Like any business, you will need to invest something before you see a return.
Get a trial copy of "Forex Tester", just Google for it.
You will probably want to purchase it.
This will allow you to experiment and test strategies in a very efficient manner.
Forget EAs. They are for entertainment only and a waste of money at that.
Don't believe most of what you read or hear. 95% of it is worthless, including all the business about stops. 95% of what you hear and read is from the 95% who cannot trade.
You should be able to trade without any indicators.
As said above, it is all about money management.
Contrary to what you will read, entries are nowhere as important as exits. If you know what you are doing you can enter at random and profit.
95% of traders do NOT succeed. Do not make the mistake of automatically thinking you are one of the 5%. Statistically you probably are not.
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The best trading system for beginner is same as best as professional trader.........coz market can't see if you newbie or expert.
But I guess the best technique for trading is trade follow trend & no trading when sideways, & not open order too much.......1 order at time is good i guess.
The best system for you is probably the one you make up for yourself.
True. There can be many strategies and systems that work best for others. But best system for a trader is the one made by him. That is why it is normally said that all strategies and systems given on different forums are useless. They cannot satisfy you. It is best to practice ur skills by trading. It takes a long time but its the only way I think.
The good or ill of a man lies within his own will. – Epictetus
I believe that if a trader knows the behavior of a certain EA it can be very useful. EA or Script can do repeatitive work for traders...
Originally posted by index1phpI believe that if a trader knows the behavior of a certain EA it can be very useful. EA or Script can do repeatitive work for traders...
Its hard for beginners to run an EA properly. There is another option too. It is to follow expert traders which you can find on websites like fxstat. But both of these options are good if the main objective is only profit making. If a trader wants to be a good trader and wants to develop a strategy or want to be an expert of a successful strategy then its only practice that can make him successful. No EA or Signal can make you an expert trader. These things can make you profitable. The problem with practice is that u will loose and invest ur time too. The result is better but only for those who can wait and have the courage to loose.
"You should be able to trade without any indicators.
As said above, it is all about money management. "
- I worry if I can do this. Or is it really a rule?
I am a hosted slave beta.
I also want some more explanation of this sentence
You should be able to trade without any indicators.
As said above, it is all about money management.
What does it mean? Why we need to trade without any indicator? Do you mean that traders should understand chart movements and analyze them without any indicator?
Stick to your rules
Originally posted by uniquetraderI also want some more explanation of this sentence
You should be able to trade without any indicators.
As said above, it is all about money management.What does it mean? Why we need to trade without any indicator? Do you mean that traders should understand chart movements and analyze them without any indicator?
I think it is simple price action strategy. Where u just analyze chart movements and enter or exit a trade. Very popular strategy
Originally posted by widhie75The best trading system for beginner is same as best as professional trader.........coz market can't see if you newbie or expert.
But I guess the best technique for trading is trade follow trend & no trading when sideways, & not open order too much.......1 order at time is good i guess.
yaa you are right that market dont care who you are and your experince and effoort to learning thhe trading but 1 oder at a time i cant understant that bcs if you have a good money managment then you can open more but if you can handle them at a time without stress.
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Originally posted by megrawab"You should be able to trade without any indicators.
As said above, it is all about money management. "- I worry if I can do this. Or is it really a rule?
dear if you have good money managment and price move of a currency then you dont need any indicator but first to go like this add two more things in your trading style one fibonachi and trend lines and trade on them i see more than 10 peoples trading without any single indicator but they just see the price move and candle formations.
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I liked the 2nd line of the first post by sadscorpion.
The best system for you is probably the one you make up for yourself.
Actually it takes time, money and maybe frustrating sometimes. But its very true that the system you make urself will work best. It was a nice article :).