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  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. #21
    Registered user Hukam's Avatar
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    As a newbie our first step should be learning and practice and should find out a great strategy for us demo testing is a very good choice to check with differ trading strategies and most of traders do one single mistake that they start real trading without any knowledge that's also should be avoided

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  3. #22
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    I will just prefer trade with technically way never trust on any signal or robot they are not good for trading so please be careful with that and never start real trading business until you have not a very good experience with demo trading learning after that you can start real trading.

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  4. #23
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    Quote Originally Posted by Earnperfect View Post
    I will just prefer trade with technically way never trust on any signal or robot they are not good for trading so please be careful with that and never start real trading business until you have not a very good experience with demo trading learning after that you can start real trading.
    That's true I never rely on any EA specially and Indicators because they never tell you what is happening but only price what you should keep in mind but even if you use EA then it should be used to closed the trades or take profits and calculate the stops because all of them are indicators based and they tend to give you losses at some stage and that is why manual trading is best and I always doing that with my account

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  5. #24
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    Thanks for you suggestion I a new trader in this market and I am doing well trading in demo trading account for now I am very happy with my performance but need need more skill and experience in this market till then I will not start real market trading in this business.

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  6. #25
    Registered user Hukam's Avatar
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    Hello sir welcome to forex first of all I want to suggest you to learn basic of this business and after that just focus on demo trading account practice I not use much indicators for trading and I like mostly technical analysis to trade in this business so I also want to suggest you to focus on technical analysis in starting it will be hard for you but slowly slowly you will able to learn this system.

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  7. #26
    Registered user Hukam's Avatar
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    Yeah there is no doubt in it strategies are best for traders but we should know about it very clear that no strategy can give us always profit in forex so if we have our own experience and knowledge in forex then we can use naked trading system also for trading and can use very good support and resistance levels for trading I think your daily learning and practice will make you a better trader in forex

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  8. #27
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    Yes I am also checking a very good strategy for me that's true that a new trader need a very good strategy for him for trading and after that he need some testing too with it in demo trading account after that my next step will be to implement in real trading I am testing many strategies now days and very thankful to this forum

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  9. #28
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    dear my sir, there is a time for us to use cut loss, stop loss and hedging to protect our balance from unwanted situation, there is advantage and disadvantage from them, cut loss, it is good if we have good decision to protect our balance based on the analysis or 2also good internet connection, cut loss is not effective when there is a problem with internet connection,

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  10. #29
    Registered user shyammandal's Avatar
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    There are no proper study of Forex trade and all the trader are using their demo knowledge and some of market knowledge but these knowledge are not sufficient for Forex trade .We want to get regular benefit from Forex trade but trader get not getting regular benefit from Forex .So new trader are looking the best strategy of Forex , some trader are applying their own logic and this is not possible for every trade .

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  11. #30
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    Quote Originally Posted by Muqeet417 View Post
    There are a lot of technique some are using some other signs along with Bollinger but the key factor is whatever we use we must be relaxed with the technique simultaneously the technique should be well examined over trial consideration and should be a confirmed one for productivity, and secondly adhere to the fundamentals then the Currency dealing will become very simple and pleasant.
    I agree with what you say that there is a lot of strategy in share trading by senior traders in trade is only just that we need is a strategy that we use is suitable but if we learn that there is any strategy that certainly we would do this trade learn to focus better and be able to make a good grasp karean basically no perfect strategy

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