Complete Newbie to Forex

(I know I’m about to ask a bit of an off-topic question, but being my first post, I can’t do it in a separate thread)
I’m extremely new to Forex and I’m trying to get my feet wet with EAs since I don’t think I’d be able to do analogue backtesting.

Please, tell me why this strategy is gonna fail:
I’ve mashed together an EA, backtested it some and will test it on demo this week. I used a simple 2MA crossover and found five pairs where it was profitable over the last 18 months. I’m then using another EA to close all trades when they have collective profit of 50 pips. I’m hoping that this will ensure more trades being made and fewer being stopped out. The pairs are a little overlapping but not too much, so that I’ll hopefully minimize several of them going against me at the same time.

The details:

1. The pairs are AUDCHF, AUDUSD, EURCHF, EURUSD, NZDJPY. I deliberately didn’t test GBP, because wrapping my head around Brexit is beyond me.
2. All the charts are 30m charts. I’m not sure that’s smart, but the EA I tested didn’t have an option to optimize more charts, so there. I’m assuming the timeframes should impact on the size of my SL and TPs?
3. The 2MA are around 5-10 to 20-40, depending on the optimization. I’m not sure it’s important to have the same MAs for all the charts?
4. All of the SL and TP are around 30 pips SL and 30-40 TP. My closing EA is set at 50 pips (is this what you would call a “hedge” EA?). I wasn't able to test all of them together in MT4, so I've got very little idea how this will work in forward testing.

Am I missing something really obvious with this setup? I’m aware that I’m not “cutting my losses and letting my wins roll”, but I’m not quite sure how this is easily done in an EA.
Is it easier to test this in MT5? I'm using MT4, since that's what fitted the EA, but it might be better to use MT5.

On an overall note I think I’m mentally better suited for shorter time-frames, since I think I’d like the option of closing my trades before going to sleep

I hope this is not too off-topic and I hope none of this is easily googled

First basket is complete, so I'm cautiously optimistic.
AUDCHF for 27 pips, AUDUSD for 32 pips and EURCHF for -9 pips. While I'm ofc glad that something is working, I'm not gonna put too much stock on this first result. It's clearly the strong trend in the AUD because of the election. Also, I'm fairly certain that there were a lot more pips to be had from those two trends.

Risk management: My demo is at 3k since that's what I would realistically start a live account with. My trades are 0.1 lots at 1:100 leverage. With a 30 pip SL that means that each trade is risking 1% of my account, but I have potentially 5 trades simultaneously, so I'm actually risking 5% (although all of them stopping out at once is unlikely, imo). Am I being reckless?

for beginners it is more appropriate to learn Forex First of all , learning should with slow progress , but mostly newcomers try to learn Fx within very short time , as a result they got nothing.

Newbies first task should be learning and understanding the concepts of the market so that they can have idea of the risky market.

Second basket came in overnight. AUDCHF for 28 pips, AUDUSD for 25 pips, NZDJPY, EURUSD and EURCHF for combined -3 pips.
Trades are opening really fast, which makes sense since the 2MA are triggered as soon the trends shift (which I think is a bit too random for my taste). At the same time I'm catching the trends fairly late, so I'm missing out on a lot of pips.
I'm thinking that maybe a faster 2MA combined with some sort of overbought/oversold oscillator. Has anyone had any experience with that setup?

we always advise to learn basic level for beginners level , but learning can be useless if there is no regular practice in demo or micro account , so besides learning it is more appropriate to emphasis on practice session

First pair stopped out, EURCHF. It behaved crazy with the Brexit news, but in truth it would probably have stopped out regardless. My entry is way too random

I stopped trading any CHF currency pairs after the crash back in 2015.

Same here! Even, I never enjoyed CHF related trading pairs; difficult environment than any other major FX pairs.

Which pairs do you prefer to trade instead?

we the traders generally choose our trading pair according to our knowledge and experience. traders should choose the pair which is more appropriate to the concept of trading that will be used , if you love doing scalping should choose the pair which has most lowest trading spreads.

Which pairs do you usually choose?

actually it depends on trading conditions , when scalping and when news trading different trading pair i have to use , but in my demo account i use all pair to see the performance how it works.

in demo no emotions works ,
so we can trade here freely ,
but i dont think any experience that we take from demo practically at all works in a real account.

It doesn't, and that is one of the main problems with trading on a demo account.

yes, i know . but whats the main reason for that ? according to me, its all about psychology, nothing without it. what you think about that ?

I agree. Things are much different when you trade on a demo account than on a live acc. You experience a whole new set of emotions when trading on a real acc.
But still I would say, a demo acc is a must for beginners. Its like a blueprint for beginners.

Buddy; it’s all about your mindset! If you use your demo account seriously as like your real account with low trading balance; then why not?

ALL you need to be sucessfull in trading its this :

1.- LEARN how to read OHLC (Open/High/Low/Close)

2.- LEARN how to use limit orders

and the most important of all..

3.- Have a good reason to do this in the first place; something so powerfull for you that, just the act of thinking about it, it will make you move your ass soo hard and fast that nothing else will matter !! a real motivation for you, a gigantic kick in the ass to keep you pointed and moving in the right direction..


EVERYTHING AND ANYTHING ELSE its overthinking/complicating this activity, period


AND unless you are a mentally and emotionally unstable human, all will take care on itself.. Trust me =)

i have never seen a guy who can trade seriously in demo as like real account.
actually its a psychological issue , no emotions , no seriousness.