The most effective strategy for a newcomer might be the one based on the mhe simple ovement of MACD indicator. I used to start with the simple options like this myself. Moreover, it makes it easier to indicate a trend.
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What's the best trading system for a beginner?
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Originally posted by dvid View PostCan somebody recommend me an advaned e-book or course where I can improve my trading results and learn new strategies, please?
Ask yourself ..... most educators / system sellers have dozens & dozens of anonymous testimonials or simulated results on their website but you'll rarely if ever see an actual trading statement let alone an audited one .... why is this?
There are very few exceptions to this, so don't waster your time reading books on strategies, sure you can read about psychology, position sizing, discipline etc .... but very very few books on strategies actually workLast edited by hermanhess; 02-06-18, 05:27.
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Such a large number of factors FXJeff. You should respond to inquiries before others can support you. You should recognize what kind of dealer you intend to turn out to be, how much time you can submit, the desires you have and in the event that they are straightforward, the time period you will exchange and amid what hours the market is open.... Answer these sort of things at that point individuals will point you in to some degree a bearing.
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Now that you know what makes the best possible trading course, let's dive into some great options for beginners.
Warrior Starter, Warrior Pro, and Warrior Inner Circle from Warrior Trading. ...
Investor's Business Daily: Options Trading Course. ...
"The Complete Day Trading Course" from Udemy. ...
Investitute Education.
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Originally posted by Sami SamithFor all newbies, get to know about basic concept for forex trading. Start forex journey with Demo account offered by best forex broker ( Baazex.com )
boost up your trading skills with continuous learning. Plus check out how to become successful trader and golden tips share by Expert forex traders.
When you start your demo, find a good legal broker and start with them. So that you can get used with the broker during the demo period an open the live account when you are satisfied
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There is no "Best System". Best system is system which will be according to your need and how you understand the market. Best system for person A can be totally different in compering with person B. Someone likes fast scalps, someone short swing trading. So best system is system which will fit your trading personality the best...
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I have to agree with AdamUS - you really have to find something that makes "sense" to you and fits your personality.
For example, I have a long term investment that I am very comfortable with, and don't check on it (very much set and forget)
But when it comes to trading, I find it hard to do swing trading because I "want" to check on the position many times during the day. That is just my personality. So I am looking at daytrading ideas that will fit this tendency.
Also, in my trading, I need to see some "proof" (backtesting or past results) that will give me confidence that the method I am following actually gives me an edge.
So just like not everyone is suited to the same job or occupation, not every trading method will fit everyone either.
But I am finding more about myself in this trading journey (so not a bad thing).
My 2 cents worth.
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Originally posted by cbinbc View PostI have to agree with AdamUS - you really have to find something that makes "sense" to you and fits your personality.
For example, I have a long term investment that I am very comfortable with, and don't check on it (very much set and forget)
But when it comes to trading, I find it hard to do swing trading because I "want" to check on the position many times during the day. That is just my personality. So I am looking at daytrading ideas that will fit this tendency.
Also, in my trading, I need to see some "proof" (backtesting or past results) that will give me confidence that the method I am following actually gives me an edge.
So just like not everyone is suited to the same job or occupation, not every trading method will fit everyone either.
But I am finding more about myself in this trading journey (so not a bad thing).
My 2 cents worth.
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Originally posted by TradeAlpha12 View PostExcellent points! I have found daytrading is really hard, and backtesting can easily mislead you...
Daytrading can be hard if making quick decisions under stress is not your strength. Luckily, I have raised 4 kids with homeschooling, so I know what stress is about
Regarding " backtesting", maybe I did not explain my thoughts well. Backtesting does assume that past performance will continue into the future (which is not something that can be assumed).
Perhaps a better idea would be to look for a "robust" strategy (broadly tested to work for many years - such as VSA or Wyckoff or trendfollowing or ??) that is taught by a trusted, veteran, successful trader (say Chris Lori or LBR, as opposed to all the unknown, new Youtube gurus that appear every week with a new course). This personally would give me some confidence that I had an edge, even during the inevitable drawdown periods.
Good luck with your trading journey!
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Originally posted by cbinbc View PostHi TradeAlpha - good points.
Daytrading can be hard if making quick decisions under stress is not your strength. Luckily, I have raised 4 kids with homeschooling, so I know what stress is about
Regarding " backtesting", maybe I did not explain my thoughts well. Backtesting does assume that past performance will continue into the future (which is not something that can be assumed).
Perhaps a better idea would be to look for a "robust" strategy (broadly tested to work for many years - such as VSA or Wyckoff or trendfollowing or ??) that is taught by a trusted, veteran, successful trader (say Chris Lori or LBR, as opposed to all the unknown, new Youtube gurus that appear every week with a new course). This personally would give me some confidence that I had an edge, even during the inevitable drawdown periods.
Good luck with your trading journey!
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