For a new person in forex, it is best that s/he gains proper knowledge and develop appropriate trading skills, trading demo.
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Best strategy for a new person.
- Thread starter tedmos38
- Start date
It is better if you choose your trading strategy on your own based on your trading style, rather than getting opinions from other. You must not understand that what is working for us might not work for you.
Work on your emotions, in fact pay more attention to controlling than anything else. Because regardless of all you have learned and practiced means nothing if you can't keep your emotions in check.Any reliable trading style that you would suggest to a new trader?
Practise on demo and see what works well for you that fullfils your trading goals and comply with your risk tolerance.
Have flexible approach towards trading and don’t be rigid when it comes to making changes in the strategy. The market is ever changing and traders need to be adaptable to these changes to survive in the market.
As a new person focus on analysing your personal preferences in order to pick a suitable trading strategy. Consider your risk tolerance and financial goal. I’d suggest pick a strategy that is less risky as you have just begun.
Swing trading strategy is the best option for new traders as it is less riskier and does not require traders to stick with their trading screes unlike scalping.
Exactly, it's just about what you know or how far you've come, but how well you handle the emotions that comes with the market and it's uncertainties.I think the best strategy is to have specific objectives in mind, after which you should confirm that your trading strategy can help you get there. Each trading strategy has a unique risk profile, so to trade successfully, a particular mindset and technique are needed.