Just starting out - Advice on trading rules | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Best Advice You Can Give A New Trader Starting Out 30 replies

Just a bit of advice, for anyone, for free 141 replies

Looking for general advice for starting serious trading 5 replies

If you could give just one piece of advice... 0 replies

Advice on Starting Out 0 replies

Just starting out - Advice on trading rules

  • #1
  • First Post: Feb 2, 2010 3:52am Feb 2, 2010 3:52am
Hi There,

I'm a newby to the trading game and am just trying to get a set of rules to trade by. So far I'm Looking at the following charts:
- Candlestick
-MACD
-Stochastic.
-ATR
So far just have rules regarding Moving Averages and the histogram on MACD. Understand ABC trading.
Just any advice or links to good threads/sites would be appreciated.

Dawfest18
  • #2
  • Feb 3, 2010 8:41pm Feb 3, 2010 8:41pm
i suppose you mean trading setup? like what trading signal and when to execute the trade? that you'll need to figure out yourself as it's a very personal thing. it depends on your personality, style, and trading preferences. I wrote about my setup here: An introduction to my Forex Trend Continuation Setup (FTC)

I also posted my general trading rules here - my 3 rules I explained how I came about those rules in a link on that page.

Hope this is helpful.
  • #3
  • Feb 6, 2010 9:59am Feb 6, 2010 9:59am

  1. No indicators! They only show the past. Trust me. (Method)
  2. Practice with a very small account so that you can see how you deal with wins and losses (Mind)
  3. Risk Reward Ratio >= 1:1 (Money)
  4. Never trade against the trend (look to higher timeframes, Method)
  5. Plan the trade, trade the plan! (Method)

"White collar crime deserves a blue collar beating!" - 8fingers
  • #4
  • Feb 6, 2010 2:16pm Feb 6, 2010 2:16pm
biggest loss should not be more than biggest gain...
  • #5
  • Feb 6, 2010 2:19pm Feb 6, 2010 2:19pm
.....

Quoting domino
biggest loss should not be more than biggest gain...
Annoying Precision
  • #6
  • Feb 6, 2010 2:20pm Feb 6, 2010 2:20pm
Read FTI`s thread..long but worth it.

take your time and digest..!
  • #7
  • Feb 6, 2010 2:23pm Feb 6, 2010 2:23pm
Read Strats thread

http://www.forexfactory.com/showthread.php?t=155459

Even more worth it
Annoying Precision
  • #8
  • Feb 6, 2010 2:47pm Feb 6, 2010 2:47pm
Quoting erikte279
.....
lol its better than use the search function right?
  • #9
  • Feb 6, 2010 3:32pm Feb 6, 2010 3:32pm
not following you. I suppose your reffering to a 1:1 rr, some strategies are built differently but as a general rule for a beginner I suppose your right.
Annoying Precision
  • #10
  • Feb 7, 2010 4:52am Feb 7, 2010 4:52am
Quoting Quantisan
i suppose you mean trading setup? like what trading signal and when to execute the trade? that you'll need to figure out yourself as it's a very personal thing. it depends on your personality, style, and trading preferences. I wrote about my setup here: An introduction to my Forex Trend Continuation Setup (FTC)

I also posted my general trading rules here - my 3 rules I explained how I came about those...
Much appreciated- Nice and simple
  • #11
  • Feb 7, 2010 8:00am Feb 7, 2010 8:00am
Quoting Dawfest18
Much appreciated- Nice and simple
Thanks. I second Strats' thread mentioned earlier.
  • #12
  • Feb 11, 2010 8:57am Feb 11, 2010 8:57am
Quoting Quantisan
i suppose you mean trading setup?...
Hi,
I have read your articles and I have found them quite helpful!
Thanks for sharing them
  • #13
  • Feb 11, 2010 10:23pm Feb 11, 2010 10:23pm
I don't believe in mechanical systems anymore, but here is a great tool to help you develop one.

http://forexsb.com/ (This is a freeware btw, not trying to sell anything here).

You can find a lot of great rules that is profitable from this back testing engine. Check the examples, I used to trade the factual rules with good results.

Play around with it and you will learn a lot too.

Hope this helps
Life is a school for the soul
  • #14
  • Last Post: Feb 12, 2010 5:44am Feb 12, 2010 5:44am
Quoting esuffw
I don't believe in mechanical systems anymore, but here is a great tool to help you develop one.

http://forexsb.com/ (This is a freeware btw, not trying to sell anything here).

You can find a lot of great rules that is profitable from this back testing engine. Check the examples, I used to trade the factual rules with good results.

Play around with it and you will learn a lot too.

Hope this helps
I guess is worth to try if it's free! And definitely another chance towards success
0 traders viewing now