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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. #741
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    Quote Originally Posted by Jibsin2excel View Post
    Can we really say a strategy is the best strategy while they should be looking for such.In this market there are millions of strategies online and traders are doing fine with them because what works for someone might not work for another trader.But the main issue is not about best strategy but risk management and discipline.
    It is true that there are so many trading strategies in the field of forex trading business but whenever you are not using them effectively then you are as good as not having one because you would in most cases see yourself losing more trades, and that is where learning come into play because we need to fully understand how these trading tools works in order to effectively use them to trade the forex market. Learning opening more doors for you to start mastering the forex market and allows you to get to know all your moves and in so doing gives you control over every single trade that you are executing.

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  3. #742
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    Good strategy mean that you have good path good way to stable in the forex market because this is right that not possible to survive in forex trading without any good planning good strategy so reality is this that if you good trading strategy then you will easily make good profit you will make analysis and perform best to make good profit just cause of a good strategy this is reality.

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  4. #743
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    Newbies who are just looking for the best trading strategies are making a lot of mistakes because the key to developing good and effective trading strategy is only found in your willing to get to learning how the forex market works and invest a lot of time into practicing over time on the demo trading accounts which helps you to get too become skillful. Learning and gaining of good trading knowledge and experiences is the way forward for everyone who desires to start making his or her trading career become the best.

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  5. #744
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    Bollinger band is specifically for trend and momentum, I enjoyed trading this indicator back in the newbie days, I saw something peculiar about it, once price has began to trend, the indicator will pierce into price and extend upwards or downtrend, I used to like trading this indicator with the uptrend more for some reason that I cannot understand, I liked it a lot.

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  6. #745
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    Quote Originally Posted by Leonvic View Post
    Bollinger band is specifically for trend and momentum, I enjoyed trading this indicator back in the newbie days, I saw something peculiar about it, once price has began to trend, the indicator will pierce into price and extend upwards or downtrend, I used to like trading this indicator with the uptrend more for some reason that I cannot understand, I liked it a lot.
    Yes bollinger band is an indicator that can help us earn good profits but first of all we should know how to use this indicator. Many newbies dont want to make efforts for learning and then make mistakes like trading with high risk to blow their account. We should go for lower risks since it is more safe and helps us to maintain our capital.

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  7. #746
    Registered user Toyen's Avatar
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    Quote Originally Posted by Leonvic View Post
    Bollinger band is specifically for trend and momentum, I enjoyed trading this indicator back in the newbie days, I saw something peculiar about it, once price has began to trend, the indicator will pierce into price and extend upwards or downtrend, I used to like trading this indicator with the uptrend more for some reason that I cannot understand, I liked it a lot.
    What i know about the bollinger bands indicator is not same with what you know about it. Firstly, let me correct the notion that the bollinger band indicator is a momentum indicator, that is very wrong, the momentum indicator is an oscillating indicator, bollinger band is not working in an oscillating way. Aside that, it is a trend trading indicator, it likewise uses support and resistance principle for trading, it can trade market reversal for that reason.

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  8. #747
    Registered user mexima's Avatar
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    Quote Originally Posted by Leonvic View Post
    Bollinger band is specifically for trend and momentum, I enjoyed trading this indicator back in the newbie days, I saw something peculiar about it, once price has began to trend, the indicator will pierce into price and extend upwards or downtrend, I used to like trading this indicator with the uptrend more for some reason that I cannot understand, I liked it a lot.
    the base of the bollinger band is basically he momentum because it tel the trader than market can hit the opposite side as well and tit also indicate how much it can move the opposite side how ever trend analysis is week on this indicator but you need to see more thing in this indicator for analysis the trend of the market like RSI and simple moving average etc etc.

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  9. #748
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    Quote Originally Posted by Toyen View Post
    What i know about the bollinger bands indicator is not same with what you know about it. Firstly, let me correct the notion that the bollinger band indicator is a momentum indicator, that is very wrong, the momentum indicator is an oscillating indicator, bollinger band is not working in an oscillating way. Aside that, it is a trend trading indicator, it likewise uses support and resistance principle for trading, it can trade market reversal for that reason.
    I think Forex is a business where people can give different interpretation based on the information they have, you might disagree that the Bollinger bands indicator is for momentum, but based on the observations that I made when I traded it, this is what I noticed, price has a type of behaviour whenever it is about to trend, it is what I saw that made me conclude that Bollinger bands is for momentum trading.

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    Last edited by Leonvic; 05-27-2019 at 02:44 PM.

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    Quote Originally Posted by Leonvic View Post
    I think Forex is a business where people can give different interpretation based on the information they have, you might disagree that the Bollinger bands indicator is for momentum, but based on the observations that I made when I traded it, this is what I noticed, price has a type of behaviour whenever it is about to trend, it is what I saw that made me conclude that Bollinger bands is for momentum trading.
    With what i have read with you guys, you are not right, momentum indicator are moving in snake-like manner. I think that there are something that is plain here, it is not about your opinion, it is about the fact. It is just like you are calling a white color black, and you are saying you are right because it is your own observation and opinion, that is not right. Come to think of it, when you trade the bollinger bands, does it moved like other momentum indicators? If bollinger band is a momentum indicator then 200SMA is also a momentum indicator, which is not true.

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  11. #750
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    Well said, a trading journal is for newbies as well to make their own identity as a good trader. Having consistent profit for three months doesnot make syou a good trader. But having a profit every month and ending up with minimum loss make you the good trader. Everyone has a loss and expert also lose but it does not mean that they are not good but they are always in profit at the end which matters.

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