Newbie looking for the best strategy (my trading journal) - Page 84
Page 84 of 84 FirstFirst ... 34748081828384
Results 831 to 834 of 834

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

  1. #1
    Trader ara's Avatar
    Join Date
    Dec 2013
    Posts
    1,834
    Thumbs Up
    Received: 106
    Given: 184

    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.

    Not allowed!

  2. #831
    Trader ola4real's Avatar
    Join Date
    Mar 2018
    Posts
    8,262
    Thumbs Up
    Received: 47
    Given: 20
    Quote Originally Posted by ajagbeolegba View Post
    Once you are still new in the market, the best advice is that you stay calms and let the professional traders teach you what you have to do. Aside that the new traders are still not having the knowledge of quality trading, their psychology of trading is still very poor. All these have to be looked into when the trader really want to be successful.
    Both the new and experienced forex traders have to stay calm, that is mandated so that the trader will not lose. It is easy to say that you will get income in forex field as an experienced traders, but there is no much indication to that if the truth is to be told. Forex traders will get to keep themselves informed and actively learning before they can narrowly be making income regularly.

    Not allowed!

  3. #832
    Trader
    Join Date
    Mar 2017
    Location
    Biafra
    Posts
    11,775
    Thumbs Up
    Received: 58
    Given: 20
    Practice will give newbies the very possibilities of building a winning trade that can help them maintain profitable result. As a newbie you must understand the need to manage loss and try your best to increase your possibility of making real profits. If newbie can learn, they can have the possibilities to make profits from forex and can sure build up a great trade that would help them survive. The right strategy will be helpful and newbies can have the potential to really earn.

    Not allowed!

  4. #833
    Trader
    Join Date
    Jul 2017
    Posts
    3,706
    Thumbs Up
    Received: 51
    Given: 7
    Quote Originally Posted by ola4real View Post
    Both the new and experienced forex traders have to stay calm, that is mandated so that the trader will not lose.
    Staying calm during an open trade have to do with two things and they are how much of the knowledge of the forex market that you possess and the experience that you have gained over time, and above all how much of the risks that you have been able to expose your trading accounts most times. I believe that the best thing every newbies should be looking out for is not perfect trading systems but ways through which they can be able to learn how to trade and master the field of forex market because that is what makes them become better forex traders and earning money become easy.

    Not allowed!

  5. #834
    Trader
    Join Date
    Apr 2016
    Posts
    3,534
    Thumbs Up
    Received: 16
    Given: 4
    For a good strategy newbies should learn strong chart patterns like pin bars, doji and also some strong indicators especially trend indicators. Another thing newbies should understand is they should not trade with real money until they have learned a strategy well enough. Bollinger band is an indicator that can help us earn good profits but first of all we should know how to use this indicator.

    Not allowed!

Page 84 of 84 FirstFirst ... 34748081828384

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •