we the traders should develop price action trading strategy otherwise trading life will be more hard.
I think it's essential to define preferred stock types, trading style and set-ups. Learning about the technical indicators and using them synergistically is key to create trading strategy and methodology.
I personally recommend new traders practice more and more on a demo account and then enter into the live trading account. Before that you need to you learn how to trade.
There are bots on EliteTrader who the hell is that person impersonating multiple accounts that post random messages with no majuscule whatsoever and no ponctuation if only a dot a the end.
New traders must opt for the strategy that they are comfortable with. Study all the strategies and pick the one that suits your trading style.
The absolute best strategy for a new trader is CAPITAL PRESERVATION. Period. Take what Warren Buffet said to heart: Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1.
Well, that is something one has to figure out on their own as they start trading. I entered the market as a scalper but that may not work for everyone. But just spend time on learning price action as that is very much needed no matter which strategy you follow.
Yes, it is more important for a beginner to practice on demo and to build new strategies there while practically trying, since only after understanding the technical functionalities and fundamentals we can build strategies.
Best strategy- 1. Learn more about the basics of forex. 2. Read about news and their effects on charts. 3. Learn about every tiny detail in your platform and the techniques which supported by your broker in opening and closing orders.