Best strategy for a new person.

Consider holding your positions for medium or longer time frames because it will give you enough time to analyse and identify the potential trades. In my opinion, the price action strategy is the best because when we start using too many indicators it usually blurs our analysis and we start relying on indicators to confirm which is clearly on the charts.

 

Well, how'd it go?

 

Be consistent in learning and use stop and loss.

 

using stop loss is a inevitable part of trading , without using this trading strategy your trading condition can be like a ship in an deep ocean without rudder.

 

Yes I agree as new trader. It is a smart and easy way to manage the risk of loss on a trade.

 

Finding an experienced trader with a long record of success and learning from him is the best course of action for a newbie. As it's easier said than done.

 

this is true but to make a perfect Stop Loss is a long time experience issue.

 

If you are a new person I would care more about fundamentals and the macro perspective and learn about interest rate differentials etc., how they move currencies. The basic strategies which are examined in the academic world are Carry, Value and Momentum strategies. Stick with them first. You can also pay attention to high impact news like FOMC, NFP and CPI and see how and why they move FX. There are also some good books about this published. Just have a look.

 

It's mandatory to have risk management otherwise you cant achieve a consistent profit.

 

but managing risk is a very good skill , and to be experienced about this issue a very long time approach.