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What's the best trading system for a beginner?

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  • #16
    Originally posted by Freddie View Post
    Lots of good advice here Jeff, only trouble is that it comes from people who have put in the time learning.

    There is no system like you are wanting. Not for you, there isn't. The reason is that you have to know things that you cannot answer yet. Conglo has set it out, Freddy - with a Y that is not me (IE) has told you the whole story pretty well (except there is a Holy Grail and I am still looking for it but sush not a word to (Y))

    I have gone from 1m charts with simple rules to Day charts. Lots of people end up there.

    My preferred system is breakouts on a 15min TF because I cannot alter my EA to trade properly... This is just an EA to open and clost trades at levels set, not a magic robot that will blow my account.
    Since I am awake at the midnight GMT I am looking for an End of Day system while I wait for the London open for my breakout trade to start.

    With all due respect to Pipspot, I find the pin bar reversal too difficult whereas the Inside Bar daily system, in the same book is my idea of simple and easy...and time saving. BUT, that is my opinion... Pipspot can use PBs whic I cannot!
    Hi Fredd(IE),

    Indeed, lots of good advice, as you say, 14 answers already, but Jeff has probably found its own:
    HOL(Y) grail, or should i say its own:
    ô, L(IE), grail.



    Very good week full of pep and pips!
    Fredd(Y)

    P.S.: Amazing, a part of your message is unreadable to me!
    P.P.S. : Ah, of course, I will approach a candle (Japanese) near my screen, I had not thought you were using invisible ink!

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    • #17
      @ Freddie equally I couldn't make the inside bar setup work consistently. I guess it goes to prove that as has been said already...the best systems are the ones that work for you

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      • #18
        I can recommend "Peter Bains - Trading like the big dogs". You can find it in the Download Section for Movies.
        Its the real basic stuff (simple) and it works. I used on my own! I can't recommend trading with a demo account! Sure, if you're a totally newbie you should trade on one but if you have a little idea whats forex about you should go live. Go live with a cent account put 10 $ on it and trade. You get a better feeling for trading with money and we're all knowing that demo trading is totally different from trading a real account!
        Good luck my friend and stay safe

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        • #19
          Start learn from trend line, fibonacci retracement, and candle stick. But most important is money management. that's all I do

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          • #20
            Hi,

            simply focus on High Low of different time frames, Moving averages SMA123, SAM162, SMA62, EMA 74, SMA100 , SMA200, SMA 210
            and if you like to be more accurate practice the fibonaccie...

            for the High Low, you can use any indicator to show you previous and current ones...

            I hope this is useful,

            Best wishes,

            SF

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            • #21
              Lots of surprisingly good answers to the OP's question (who's never posted again!).

              I don't see Volume Spread Analysis listed here so I will throw my hat in the ring. But it's imperative to echo the posting of many wise others that no system is 100%, nor would I say 100% profitable in the long run. Spot FX behaves differently from day to day, driven by human emotion, but the algorithm trading explosion over the last year has been a big factor too. It's possible to use wildy different systems from day to day, week to week, but you have to know how to read the market, so choosing the system is a ****shoot too. Although this board is big and extremely helpful on EAs/robotic systems, I do not believe a profitable one can be implemented by the average retailer. And, given the losses they ALL generate, and factoring in one's time to dilly-dally hours, weeks & months away, I would say that energy is better used towards technicals, with a focus on VSA.

              VSA is tremendously successful in all markets with volume. True spot fx doesn't have actual volume but rather tick transactional volume, which gives the same results, with a decent datafeed. VSA is less than one-third volume quantity specific, with the remainder being the span of bars and where they close, to read current and overall strength, against supply & demand zones. It is a variation of Wyckoff fundamentals, which should also be studied. There is a generous plethora of material available all over the web, and there's no reason IMO to pay money to learn it. But, it does take time, and many thousands of screen hours, but that's what trading demands. The 95% that fail are part of the sheep that constantly are attracted to the market, spend little time learning properly, or lose their money, and never come back. But it is possible to profit, but the journey is very, very slow.

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              • #22
                i think... if you like the Forex...
                you must go besides beginning with a simple system

                you must understand and study this simple system...
                only after that you will be able to say to be a beginner...

                in all the cases I suggest a system of movable averages...

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                • #23
                  Forex is a other word of foreign exchange . Forex systems are recommended buy and sell points with money targets and stop-loss levels delivered by signal provider to trader . They may be delivered by email, instant messenger, cell phone, or direct to you. Some service providers even offer auto-trading, allowing you to auto-execute their signals direct into your broker account.

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                  • #24
                    Hi, everyone ..... Does the method of martingale in forex trading?

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                    • #25
                      like some other people have already said, learn Price Action first! Ignore all the fancy indicators until you have it down pat. Also learn about candlesticks, then you can slowly add indicators like MA's, Stochs etc.
                      Remember in the end price action trumps everything :-)

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                      • #26
                        My scan says a trojan virus in this download from tomislav

                        http://www.4shared.com/file/NnMaCkEF/Cool_Forex_Package.html

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                        • #27
                          Hi, I am also the very beginner.
                          first time I learn about Forex is from FBS. its give short information but very easy to understand.
                          Thanks FBS
                          but I'll try some of those. very helpful

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                          • #28
                            Originally posted by trader007
                            Take a look here, this is simple ways to SUCESS in INVESTMENT
                            http://tokoetam.com/trader007.htm
                            Promoting ..?

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                            • #29
                              Originally posted by freya View Post
                              Hi, I am also the very beginner. first time I learn about Forex is from FBS. its give short information but very easy to understand. Thanks FBS but I'll try some of those. very helpful
                              Looks like more promoting

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                              • #30
                                FBS? What a name to choose...Forex BS lol

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