Best strategy for a new person.

what you think there is any difference between money an risk management ?

 

Yes there is a difference. Money management is more about position sizing, how much you bet on a trade. Risk Management is more about Stoploss.

 

I think traders should create their own trading strategies based on their aims and risk appetite. They can use demo accounts first to backtest their strategies for being sure.

 

a demo is a good place to test your trading strategies. but i have seen traders always ignoe this trading place.

 

Do not get too overconfidence after one or two wins & always use stop loss.

 

over confidence is the foremost enemy in this market place , due to this bad trading habit we the traders loss our huge equity . so we should remove this habit , otherwise it could be dangerous.

 

agree with your message.

 

Demo accounts can also be really helpful in finding an edge to the trading strategy.

 

Start with a demo account and after getting familiar with everything switch to live trading and initiate there with minor lots. Basically go slow and focus on growing steadily, Don’t rush.

 

Since I'm a scalper, I prefer trading with exponential moving average (EMA) indicators. It is easy to use, and it shows the underlying effect of a forex pair by highlighting the average price over a period of time instead of the current price.