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

  1. #1
    Trader 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. #61
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    FOr the the Newbie in the trading the best strategy for the trading journal is to get good knowledge about the forex trading markets by the experienced persons or form the websites. so we have to analyse the economical growth for the markets in the trading technical analysis and want to get more and more money with the roboforex trading platfroms to attains goals.

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  3. #62
    Registered user Quid's Avatar
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    Quote Originally Posted by ara View Post
    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.
    Yes,if you trade with simple strategy then you can generate the profit easier but for sure we need to get good condition for trading,the strategy and plan in the market is different and can not be applied well in many conditions which are not certain for the traders.

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  4. #63
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    Most newbie do not stuck to one trading strategy because they not want loss in their single trade,forex is such a business in which traders have to accept losses too like their profit's,most trading strategies are good to use with little modification and gave very good result,but it's important to stick with them for long term to produce good results..

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  5. #64
    Trader Dheeraj123's Avatar
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    Simple trading strategy is best for trading and along with it if you are using very less lot size trading then you are making your trading system more strong and effective in this market I am very happy that you are doing very good trading in this market keep it up with your process mate

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  6. #65
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    Newbie must not jump im market very quickely must give himself some time and gain some knowledge about forex and then make some strategy and apply that strategya nd stick with that it will definitly help to make money.

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  7. #66
    Trader YAHOO21's Avatar
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    Trading journals can be very useful for any beginner , and the thing about trading journals is that you could record all the moves you do ,and every trade you made , and why did choose to enter a specific position at a specific time , and it can be very helpful for beginners because they get to revise the history of their trade to see where did they went wrong , as most beginners make lots of mistakes in their first day , but as those beginners get to know more about the forex , and if they could where did they go wrong and tried to fix it , then they will be on the right way for success ..

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  8. #67
    Registered user Quid's Avatar
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    Quote Originally Posted by YAHOO21 View Post
    Trading journals can be very useful for any beginner , and the thing about trading journals is that you could record all the moves you do ,and every trade you made , and why did choose to enter a specific position at a specific time , and it can be very helpful for beginners because they get to revise the history of their trade to see where did they went wrong , as most beginners make lots of mistakes in their first day , but as those beginners get to know more about the forex , and if they could where did they go wrong and tried to fix it , then they will be on the right way for success ..
    Trading journal capture the trades which we do,and the point of all those things we already learnt about the mistake we done so many times,the trading which we know for each step taken and the chosen pair for trading,the specified strategy for the certain situation,all are the point in the strategy.

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  9. #68
    Trader YAHOO21's Avatar
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    Quote Originally Posted by nidhi View Post
    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 and should be a proven one for profitability, and secondly follow the basics then the Forex trading will become very easy and enjoyable.
    Indicators can really enhance and improve your strategy and so your chances of making more profits, and i think the MACD is a very simple and useful indicator and because of this simplicity it might be used by beginners who are totally new to the forex trading thing and they don`t know much about it .and i think that if you combine the bollinger band indicator with the MACD you`ll end up with a simple and profitable strategy .

    And always to make sure that the strategy you`re using is working and is capable of making profits , make sure to test on a demo account before using it on your real account,
    cause every strategy should be tested with virtual money before using it on the real account .

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    TOMORROW IS A BETTER DAY

  10. #69
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    It is normal for new traders to find trading a bit difficult in the begining of their career and a lot of them loose money. But that is just part of the business and most traders will eventually become good traders if they continue to learn more each day.

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  11. #70
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    I think for new traders having good strategy is learning and practice. When people properly complete this two term then they must be achieve success from here. Dear new trader can not having proper knowledge about every term of this business. That reason to make a good strategy traders need to complete it.

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