Best strategy for a new person.

Discussion in 'Forex' started by tedmos38, Feb 25, 2021.

  1. newcomers should choose the strategy which is more appropriate to the concept of trading that will be used , if love doing scalping should choose the broker which allows trading concept such as this.
     
    #71     Apr 12, 2021
  2. kroxobor

    kroxobor

    OP asked a wrong question.
    Because it is not possible for a new person to profit reliably .
    It is like to ask what is the best method for a new chess player to get world chess champship.
    Or how to become a NBA player after you learn playing basketball for a few months. Experience builds slowly and sometimes successful decisions is a result of intuition which is basically unconscious experience.
     
    #72     Apr 12, 2021
    tomorton likes this.
  3. tomorton

    tomorton

    Indeed.

    The purpose of the first strategy (which should of course have been learned and adapted in demo trading beforehand) is to learn how to judge strategies, how to cope with your own psychology and how to manage risk when real money is involved.

    Making a profit is not a realistic objective, though it should be a minor by-product of a settled strategy.
     
    #73     Apr 12, 2021
  4. tedmos38

    tedmos38

    Yes, that is a good point. My current broker does not restrict any kind of trading styles.
     
    #74     Apr 12, 2021
  5. Kodakoto

    Kodakoto

    In any case, no matter what strategy a beginner takes until he tests it, it makes no sense to work on a real account for at least 3 months on a demo account?
     
    #75     Apr 13, 2021
  6. tedmos38

    tedmos38

    Obviously, there is no point of testing a new strategy on a live account. So the best thing to do is testing on demo.
     
    #76     Apr 13, 2021
  7. Who is your current broker?
     
    #77     Apr 13, 2021
    tedmos38 likes this.
  8. tedmos38

    tedmos38

    Its Fxview, I really like their trading conditions.
     
    #78     Apr 14, 2021
  9. Dugrel

    Dugrel

    That's right, if some conditions do not suit you, then it is better not to work with which broker?
     
    #79     Apr 15, 2021
    tedmos38 likes this.
  10. Oh. I’m demo trading with them too. I like their spreads and commission structure. What about you?
     
    #80     Apr 15, 2021