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new trader strategies

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Nov 04, 2013 10:43 pm
#1
4nt5 Translator

Envois: 84
Membre depuis: 12/10/2013

Hi Guys, I've been playing around with a demo account for a while now and want to try trading with real money, just wondering whether anyone had some tips or strategies they could recommend i try.

In the demo i've mainly been buying GBPUSD and selling after waiting overnight when its had a chance to mature/increase. Would love some pointers on how i can maximize my income based o this fundamental tactic.

Cheers in advance! 

Nov 05, 2013 12:00 pm

Envois: 35
Membre depuis: 05/11/2013

I recommend some short-term trading in addition to you current strategy, while your current strategy can yield significant gains it can also yield significant losses if you forget to implement stop-loss. Short-term trading can get you quick returns and minimise losses, HOWEVER your gains will also become smaller because of the shorter time frame. My advice is to try marginalising risks with short-term trading, though profits wont be so great it boosts your potential income rather than idley waiting.

I' am sure others share my opinion, but im also interested to hear what others think about this.

Nov 05, 2013 05:05 pm

Envois: 14
Membre depuis: 30/07/2013

When invested in a real account forex use the following techniques: the Commodity Chanel Index (CCI 50) the Stochastic oscillator the Exponential Moving Average, These techniques are very useful and opotunamente detect market trends, for better investments.

[grin]

Nov 05, 2013 07:21 pm
nirov User

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Membre depuis: 05/11/2013

I wantto startmybasicstrategyrecommendssome advice onbuyinga few missing.results, whilethe currentstrategycan bringhuge profitsifyouforget touseaclass, we alsocan producesignificant damage.short-term tradingquicklyreturn andcan cutyour lossesButthe benefitsofa short period of timewill beshortened.

Nov 08, 2013 08:32 am
dianayes User

Envois: 41
Membre depuis: 07/11/2013

Hello to FXSTAT.I'm new at forex,your posts are very informative.Thanks.

Nov 11, 2013 01:27 pm
4nt5 Translator

Envois: 84
Membre depuis: 12/10/2013

Originally posted by MargaretLekker
When invested in a real account forex use the following techniques: the Commodity Chanel Index (CCI 50) the Stochastic oscillator the Exponential Moving Average, These techniques are very useful and opotunamente detect market trends, for better investments.


Thanks for your suggestions it has been a very educational read for me, i've done some research and while I have understood 2/3 of the tools youve suggested i was hoping someone could elaborate more on EMA.

While i have understood SMA i dont understand how someone should calculate the extra weight they should place on new data compared to the historical data. If someone could explain this to me in a bit more detail i would be very grateful! Thanks :)

PS. For anyone curious;
CCI is basically a technical analysis tool to determine when a currency is over bought/sold. Formula is CCI=(Price/Moving Average)/(0.015xDeviations).

Stochastic Osillator is a technical momentum indicator comparing a currency's closing priceto its price over a given time period, and sensitivity is adjusted by the moving average. Forumula is %k=100[(most recent closing price-L14)/(H14-L14)]. FYI L14 is low of 14 previous trading sessions and H14 is highest price traded during same 14 trading period.

MA (or SMA) is the mean of some trading points i.e. (1.2+1.3+1.4)/3 days = MA, EMA is the same except more weight is given to the newer data. What i dont understand is how do you know what weight to give the newer data? Again Many Thanks guys![cool]http://www.fxstat.com/widget/link?t=tiny&c=3&s=20780&o1=growth&o2=drawdown&o3=monthly&o4=equity

Nov 13, 2013 01:58 am
Champ User

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Membre depuis: 17/05/2011

Originally posted by 4nt5

What i dont understand is how do you know what weight to give the newer data? Again Many Thanks guys!<img alt=" />

 



By using percentage. 

http://www.fxstat.com/widget/link?t=tiny&c=1&s=24959&o1=growth&o2=drawdown&o3=profitfactor

Nov 13, 2013 10:27 am

Envois: 45
Membre depuis: 06/11/2013

Originally posted by Champ
 
Originally posted by 4nt5  
What i dont understand is how do you know what weight to give the newer data? Again Many Thanks guys!" />       By using percentage.   



what percentage do you use normally for say the last 3 days over a 14 day period?

http://www.fxstat.com/widget/link?t=wide&c=1&s=25061&o1=growth&o2=equity&o3=profitfactor

http://www.fxstat.com/widget/link?t=wide&c=6&s=25061&o1=growth&o2=drawdown&o3=profitfactor

Nov 15, 2013 11:52 am
fxlots User

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Membre depuis: 07/11/2013

Originally posted by MargaretLekker

When invested in a real account forex use the following techniques: the Commodity Chanel Index (CCI 50) the Stochastic oscillator the Exponential Moving Average, These techniques are very useful and opotunamente detect market trends, for better investments.

<img alt=" />

 





I have also found MACD indicator to be very useful in seeing trends similiar to CCI but backed by bar charts as well... By the way im trying to design an effective EA for the first time, can any traders with some experience in this bestow some wisdom on a humble rookie pleaaaaaase [aww]


http://www.fxstat.com/widget/link?t=tiny&c=1&s=25095&o1=growth&o2=drawdown&o3=monthly&o4=equity  

Nov 15, 2013 11:53 am
fxlots User

Envois: 22
Membre depuis: 07/11/2013

Originally posted by cheesyfinger

 

Originally posted by Champ
 
Originally posted by 4nt5  
What i dont understand is how do you know what weight to give the newer data? Again Many Thanks guys!" />       By using percentage.   




what percentage do you use normally for say the last 3 days over a 14 day period?

 

http://www.fxstat.com/widget/link?t=wide&c=1&s=25061&o1=growth&o2=equity&o3=profitfactor

 





PS. the computer will calculate it for youe... go to insert, indicators, and select EMA

Hi the program will calculate that, it is under:

insert>indicators>EMA

I have found MACD indicator to be very useful in seeing trends similiar to CCI but backed by bar charts as well... By the way im trying to design an effective EA for the first time, can any traders with some experience in this bestow some wisdom on a humble rookie pleaaaaaase [aww]


http://www.fxstat.com/widget/link?t=tiny&c=1&s=25095&o1=growth&o2=drawdown&o3=monthly&o4=equity  

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