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What's the best trading system for a beginner?


FxJeff

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  • 2 months later...
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  • 1 month later...

No need to invest considerable amounts when you start trading, you just need to know where to look.

Take the time to find out what works for other people and build experience, take what you like and build a strategy.

Test it, if it's profitable, trade it. Have a clear, concise written method of every action taken.

Read some psychology books.

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  • 5 weeks later...

I give you a couple simple ones that are profitable over time you must have the discpline and patient to trade it right for it to work though

 

the 20 EMA + 14 period Momentum indicator is one that Dr Alexander Elder uses in Trading for a living it is simple and it work well on any pair on anytime frame but it work really well on the EUR/USD 30 min and 1HR charts and the G/U pair on the 30 min 1 HR and hr Chart

 

Rules as follows

long trades = price must be above 100 level on momentum indicator as well as be above the 20EMA or else no trade and I mean they must be above it for the longs not heading for it ok.

 

short trades = price must be below the 100 level on momentum indicator as well as be below the 20 EMA or else no trade and I mean it it must already be below the EMA and the 100 level or no trade.

 

Exit the trade at an indefernce point on either indicator meaning get out if one isn't in the proper order

exit long if either the price drops belows the 20 EMA or the 100 level of the momentum indicator becuase that means momentum is gone from your directional trade.

 

Evit short trades if price goes above the 20 EMA or if momentum indicator goes above the 100 level

 

for this system you want momentum of the trade to match what direction your EMA 20 is headed in.

 

 

The Holy Grail as most Professional Swing Traders Call It can be used on anytime frame

 

it is simple to

20 EMA and the ADX indicator

long trades if price is above the 20 EMA and if ADX is above the 30 level then and only then can you take long trades

short trades if price is below the 20 EMA and if ADX is above the 30 level then and only then can you go short trades

 

as you can tell on this system the ADX is a trend filter and when it is below 30 you are no longer in a nie trend you are range bound this system is a Trend Trading System so you want ADX to be above the 30 level but watch out becuase alot of time ADX peaks out at the 60-70 level then will retrace so if you aren't in the trade yet and the ADX is at or above 60 move on to the next time frame or a different pair all together.

 

the ppprofessionals use this as an income generating system on the 15m and 1 HR charts till they build up there accounts big enough to move size and trade more long term charts for wealth building.

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  • 2 weeks later...
I give you a couple simple ones that are profitable over time you must have the discpline and patient to trade it right for it to work though

 

the 20 EMA + 14 period Momentum indicator is one that Dr Alexander Elder uses in Trading for a living it is simple and it work well on any pair on anytime frame but it work really well on the EUR/USD 30 min and 1HR charts and the G/U pair on the 30 min 1 HR and hr Chart

.

 

it can also work on GU 4hr Chart? i suppose the last "hr" should be 4hr?

Thanks!

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Guest FloridaTrader
guys all this talk about indicators your better using my loser company signals by morons on your account . i subscribed to them for $199 and received 5 months worth of signals.. a real bargain...

 

If you had any neurons in your brain, you would realize that there are people on this forum a hell of a lot smarter than you and can see through your b.s. Find another forum that will allow your moron postings clown.

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  • 2 weeks later...
Guest FloridaTrader
Im a forex trader and use forex signals from 2 signals firms www.fxpremiere.com and z signals. these 2 together when both are sending me the same signal i know its 100% accurate. Use them and keep it simple. oh as for a broker i recommend iron fx.

 

sarah

 

You are NOT a trader, you are a CLOWN SPAMMER...13 of them in a row. Are you a moron?

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