What's the best trading system for a beginner?

[Lexus]

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.

[Kat33]

I will advise you to study the Zigzag, this is an interesting indicator. You can build a trading system based on it.

[dvid]

Can somebody recommend me an advaned e-book or course where I can improve my trading results and learn new strategies, please?

[hermanhess]

Can somebody recommend me an advaned e-book or course where I can improve my trading results and learn new strategies, please?

 

Fact of the matter is most trading systems simply do not work, what I mean to say is they do not have positive expectancy, it doesn't matter how disciplined you are and what your personality type is if you trade them you will lose, stop loss & position sizing wont matter either, you'll lose all your money anyway with or without them, you'll just lose at a slower rate if you use them but the final outcome will be the same ........

 

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 work

Edited June 2, 2018 by hermanhess

[Anton Mashkov]

good afternoon. Please tell me, I was looking for trading systems to trade successfully, but I can not figure out what is best to use a beginner. Found site

http://tradelife.ru/

there are a lot of strategies. Tell me, what is better to choose for Forex trading novice?

[Davidfeliciano9]

Best Stock Brokers for Beginner Investors 2019

1. TD Ameritrade - Best overall for beginners.

2. Fidelity - Great education and research.

3. E*TRADE - Best web-based platform.

4. Charles Schwab - Well-rounded experience.

5. Robinhood - Easy to use but no tools.

[taylor00]

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.

[Davidfeliciano9]

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.

[netgoon]

For 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.

 

Don't mislead members, this broker is registered in offshore location on West Indies and there is no affiliation from well known financial authorities. It is just a simple B-book broker operating from an offshore location where there is no guarantee for your money.

 

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

[thanos]

Beginning myself. Been watching some YouTube videos.

[AdamUS]

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...

[cbinbc]

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.

[TradeAlpha12]

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.

 

Excellent points! I have found daytrading is really hard, and backtesting can easily mislead you...

[cbinbc]

Excellent points! I have found daytrading is really hard, and backtesting can easily mislead you...

 

Hi 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!

[Guest milete]

Hi 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!

 

You won't find quality courses online even paid ones that pretend to be not scam explain some basic stuff you can find after digging a bit deeper than first page of google search result. Same can be said about YouTube - comprehensive courses are **** but there are useful single videos on some subject made by some enthusiasts.

[Guest Siyan jheel]

When it comes to Forex trading for beginners, the pin bar is king. This is because it's a very obvious pattern, making it easy to identify on a chart. It's also one of the easier strategies to trade. Notice how the market came into resistance during a rally but was soon able to break through that resistance.

[Guest Siyan jheel]

I prefer to do the manual trading and hence I do not like to invest in certain trading systems.

[Guest machete]

95% of traders fail. Of these traders, most of them are using mechanical systems created by others. System's which can be operated by a brain dead chipmunk.

 

If you want to be in the 5%, trade without a system (Not to be confused with trading without a plan). Don't just short because an indicator turned red or go long because it's green. Use price action.

[Guest machete]

 

When it comes to Forex trading for beginners, the pin bar is king. This is because it's a very obvious pattern, making it easy to identify on a chart. Notice how the market came into resistance during a rally but was soon able to break through that resistance.

[samesheet]

Have you tried momentum or S/R trading. Easiest to grasp in view and despite of that those market anomalies persist which means relatively easy trading opportunities are still presented in the market.

[Investfox]

 

One of the simplest strategies, which is available even to market beginners, is the trend trading strategy. Its essence is that the price of any asset, such as currency or stock, has only three movement patterns – growth, decline, and sideways movement (as professionals say – flat).

[FXOpen Trading]

One of the simplest strategies, which is available even to market beginners, is the trend trading strategy. Its essence is that the price of any asset, such as currency or stock, has only three movement patterns – growth, decline, and sideways movement (as professionals say – flat).

 

When we are using such a trading based strategy that is easy to understand the income that we are going to get will also depend on many of the other factors, which also involve market dynamics and market trends.

[NicholaCarew]

The best trading tool for a beginner is the pinbar, which makes it easier to spot on a chart. It's also one of the simplest trading techniques.

[grahamb33]

If by "beginner" you mean undercapitalized and uneducated you are most likely doomed to fail regardless of which system you pick. As others have already pointed out, the majority of traders lose money (some 90%+). The majority of the traders are using all the same great professional tools, indicators, and systems that are available to everybody else, and they all lose. Some are even capitalized properly and are highly educated, but they still fail miserably. Therefore, success is really about psychology, risk management, and position sizing. Notice that the two latter things are not posible to do well with small accounts, but you have to start somewhere...

 

Start by educating yourself and reading Reminiscenses of a Stock Operator, The Market Wizards, and Best Loser Wins. Once you understand these 3 books thoroughly and can quote Reminiscenses of a Stock Operator in your sleep, then try using deep-in-the-money call or put options to cap your risk and leave the upside uncapped (asymmetrical leverage) to try to grow your small account in the most unconventional way. Since you can't risk just 1% on each trade on small accounts, you will need to break all rules of trding and have lots of luck in the beginning. But, if you hit a normal drawdown early rather than later, you will blow out your small account. Don't get discouraged, just go back to work, raise another stake and try again! But, be careful not to fall into a trap of switching systems, taking new courses, and reading new books every time you hit a streak of losers. It is not about the system! Nothing works all the time. Read about the struggles of Michael Marcus, Mark Cook, and Marty Schwartz (Pit Bull!) for inspiration. They all started with small accounts and achieved the impossible. Jesse Livermore himself started with only his lunch money.

 

Any entry system is OK, really. If you need some entry system ideas, read Linda Raschke's Street Smarts... Just assume that every trade is low probability and most likely will be a loser, and then place it anyway! Get out quickly if it doesn't work and don't ask why, just cut those losers short! When and IF a trade actually works, just SIT TIGHT and let the damn thing ride with a trailing stop, and even ADD to your position at progressively higher prices! It will be extremely difficult and stressful to do this, and everybody else will naturally do the exact opposite. The majority will ride the losers and even average them! Then, they will cut the winners short because they tell themselves that a bird in the hand is worth two in the bush! With such a recipe, you are guaranteed to blow out even if you have a lot more winners than losers.

 

Some people, like me, like to enter on overbought or oversold technical conditions (mean reversion). Trend followers, like some Market Wizards, like to enter on new high and new low breakouts. Some people even use fundamentals for trading (Jim Rogers, Victor Sperandeo, etc), but be extremely careful because that's the most dangerous way to trade of all. Timing and risk management are impossible with fundamentals trading and small accounts. Turn off ALL the news and only look at price. Do not listen to anybody, no matter how reputable they are, and never mix politics with trading. Turn off the TV, the radio, and the news webpages. It's hard enough to deal with your own psychology while on a trade. Reading the news and getting scared out of your trades will make you feel like a sucker every time. Shut it off completely. I really mean this.

 

To summarize, I think it boils down to picking either mean reversion or trend following, whichever goes with your personality more. Pick a time frame that you like. Some people like to trade daily bars, others like 5 minute bars... You can make money from a small position and large moves, or big positions and small moves. There are a million ways to make money. Enjoy the journey, because it will be a long and difficult one.

[samesheet]

The best trading tool for a beginner is the pinbar, which makes it easier to spot on a chart. It's also one of the simplest trading techniques.

 

How can I use it? Please explain. I use Hotforex micro account, EURUSD and USDJPY where can I see pinbars and how do I place trades based on their signals?