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Thread: Newbie looking for the best strategy (my trading journal)

  1. #1
    Registered user ara's Avatar
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    Newbie looking for the best strategy (my trading journal)

    Thanks for Value traders as educators who have advised us to make a trade journal in building a strategy.
    Yes, I realize the importance of trading journals, especially for me as a beginner to improve the knowledge, skills, and build a profitable strategy. So I create a trading journal in this forum. And this is my first trade journal in my career as a trader.

    "So please do not take me into the contest" because I am just a newbie who was looking for a system and build it in this journal.
    Maybe a lot of other members here are more worthy to join the contest.

    I have almost a year experiences in forex trading, may still have a long journey, and you know ... I really get bad experiences in trading, I actually lost a large amount of money in any trading account, so I tried to search for knowledge in this forum and practice in a real account with bonus forum, so for a while I would try to keep a journal trading with a bonus forum, if I have succeeded in making a profitable strategy, then I will try to use deposit account. Because I do not want to take the risk in making a deposit without a good strategy.

    You do not wonder if I get a margin call or stop out, but this is a process, I need to fix my performance with this journal. And I tried not to lose all the equity.

    But you do not wonder if I can profit consistently for three months, because I have learned a lot about everything. My goal is to build a strategy with achieving profitable for 3 months.

    At the moment I am just trying a simple strategy, just use Bollinger Bands (period = 100) with zigzag default setting. I have my own way to analyze using zigzag, and Bollinger bands, but there are times when I use other indicators as filters. But it's not a big deal. I am a long term trader, so do not ask me why I rarely update my entry or exit, but this is my characteristic.

    I used the smallest lot in the trade, so I do not put a stop loss, I just cut loss when the condition is in danger.

    I am sure that with just using a simple strategy, and a simple indicator and enough knowledge about the fundamentals can make me successful. But it might take a long journey.

    So let us learn together, trading journal is not only for experts, but trading journal is very useful for beginners in the search for identity as a true trader.

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  2. #11
    Registered user dkarev's Avatar
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    it not always easy for newbies to get trading strategy it take time before one will settle for one but i think the simple one can share is the use of trendline and horizonal support and resistance,since the market is always moving back and front support and resistance area is very important when conducting any kinda analysis on the market.one support and resistant is located from daily time frame,we just need to be patient for what ever pair we might be trading to move to our support area before placing a trading order

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  3. #12
    Registered user Hukam's Avatar
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    Sir I think our learning is one of the best strategy in this business that's right that newbie trader always search a very good strategy for them in forex but until they will not work well with learning and practice no strategy will work from them in forex in my 6 years trading experience I come to know that without hard work there is nothing possible in this business.

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  4. #13
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    The very good trading is based on strategy and if we have good pair of some trading about which we have much economical knwoledge and we have analyse it best then can understand about the strategy easily also it is good for the newbie and they should first manage their strategy before starting the trading

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  5. #14
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    I think strategies is helpful for trading on Forex market but for the new traders it should be more necessary to follow the money management first and then take a simple plan for a profitable trading .Yes newbies are always waiting for strategies but they must be take patience for. They must trade on demo to earn experience and knowledge about Forex market. Market knowledge can be very useful for newbie. Some simple fundamental knowledge is also essential for them.

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  6. #15
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    techniques are different for different individual. one must try to comprehend the industry and use trial consideration. adhere to the alerts. keep an eye on industry information. starter can be use little lot for dealing. using trial consideration may advise about industry.

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  7. #16
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    the truth is that there is no 100% sure strategy in the forex trading business. i would recommend that a trader discover his own trading strategy which works best for him. i would not depend on another traders strategy unless i have demo traded it to perfection.

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  8. #17
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    For the newbies to learn strategy have to focus firstly indicators that are based for the practice of trading better is to learn it with the help of demo account where we can do any trade and any lot size and can build our itself strategy that is very helpful for trading

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  9. #18
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    I do not see that there is a better strategy, but the best strategy is not the same experience of rolling and make sure of success before being applied to the account and the real strategy is different from trader to another important training and the work of her test

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  10. #19
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    Quote Originally Posted by AlwaysZoz View Post
    I do not see that there is a better strategy, but the best strategy is not the same experience of rolling and make sure of success before being applied to the account and the real strategy is different from trader to another important training and the work of her test
    Different trader could be different to look certain strategy as good or bad strategy because different trader has different style of trading which is comfortable with him. For some traders, scalping is good method for trading but I don't comfortable to trade with it so it's possible that scalping is the best strategy for one trader but it's not good for me.

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  11. #20
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    My dear friends There are a lot of strategy some are using some other indicators along with Bollinger but the key point is whatever we use we must be comfortable with the strategy at the same time the strategy should be well tested over demo account.

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