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Desperate to learn a new strategy

  • #1
  • First Post: Aug 10, 2015 1:07pm Aug 10, 2015 1:07pm
So, this happened. I have lost my initial deposit, most certainly because I was using stupid strategy. I got another small depo, do not use high leverages, but I do feel that I am stuck with the same trading technique. Are there any good methods to learn new trading technique, because my brain certainly cannot adjust on its own?
  • #2
  • Aug 10, 2015 3:13pm Aug 10, 2015 3:13pm
Quoting nolimitz
So, this happened. I have lost my initial deposit, most certainly because I was using stupid strategy. I got another small depo, do not use high leverages, but I do feel that I am stuck with the same trading technique. Are there any good methods to learn new trading technique, because my brain certainly cannot adjust on its own?
first learn ourself, about our limitation, greed, fear, conscious mind unconscious mind etc.
then watch and learn price candle on all time frame, just watch and try to tune with it without indicator system or anything, and read learn all about this forex.
and the journey finding our arsenal tools begin.
we don't predict, we only ride
  • #3
  • Aug 10, 2015 3:27pm Aug 10, 2015 3:27pm
Quoting nolimitz
So, this happened. I have lost my initial deposit, most certainly because I was using stupid strategy. I got another small depo, do not use high leverages, but I do feel that I am stuck with the same trading technique. Are there any good methods to learn new trading technique, because my brain certainly cannot adjust on its own?
1 st of all ,you belive yous stg ....love your stg system .it may raw chat only PA ..it may only MA ..fibo..s/r...wave ...what ever it is ..ask your self what you did wrong? may be you enter emotionaly..your chart/knoledge stg/systen said no trade but you pull da triger.and loss ocur.....you said small dep..how small ..some i just depo 1/2 and try make 3/4 time (gain) just to build my patient..test nerve .remember smal is not small ..smal your thought if can make 1usd to 2 usd it is double and it is too tough then 100/1000 ..may be you loughing..but it is damn true
Say something meaningful or Silence!!
  • #4
  • Aug 10, 2015 5:07pm Aug 10, 2015 5:07pm
Quoting nolimitz
So, this happened. I have lost my initial deposit, most certainly because I was using stupid strategy. I got another small depo, do not use high leverages, but I do feel that I am stuck with the same trading technique. Are there any good methods to learn new trading technique, because my brain certainly cannot adjust on its own?
Hi - there are lots of different strategies you can try. The key to them all is yourself and discipline.

If you want to check out some of them on the strategies section you'll find lot's there. I have one in there as well http://www.forexfactory.com/showthread.php?t=551541

but it really comes down to yourself.

Good luck
  • #5
  • Aug 10, 2015 10:42pm Aug 10, 2015 10:42pm
Hi,

Sorry to hear about your losses, it's an experience that you can learn from if approached with the right attitude. I suggest that you take any system that you read about with a grain of salt, and research it thoroughly (how great is it really?) before you commit live funds.

I've traded many systems, and have made several EA's some are great others not so much, I try to run multiple systems incase one method fails. To be specific what I'm saying is:
Just about any system can fail so try and trade a few systems that are decent. But alas even with good systems there will be periods of losses and drawdown, that's when it's important to be patient and rely on your research, if you didn't do enough research you might be tempted to ditch the system and jump ship to another.

Best of luck!

Rpamr
A Positive Mind, and Positive Spirit lead to True Happiness
  • #6
  • Aug 11, 2015 3:15am Aug 11, 2015 3:15am
Martingale, surely :3 No one here will teach you profitable strategy, so you have to learn it by yourself. Personaly me, have lost a lot of depos before I learned how to get profits. Don't give up and read\watch videos\think
  • #7
  • Aug 11, 2015 3:34am Aug 11, 2015 3:34am
Quoting nolimitz
So, this happened. I have lost my initial deposit, most certainly because I was using stupid strategy. I got another small depo, do not use high leverages, but I do feel that I am stuck with the same trading technique. Are there any good methods to learn new trading technique, because my brain certainly cannot adjust on its own?
Can I ask you a few things? What timeframe are you trading? How long have you been trading for? Have you at least tripled your demo account first before trading live?
  • #8
  • Aug 11, 2015 3:45am Aug 11, 2015 3:45am
Learn Supp/Resist, Candlestick analysis, chart patterns. I have tried "Systems" that have all kinds of indicators that tell you when to buy/sell and not a single one of them has ever worked in the long term. The only consistent profits I have ever made is from my technical analysis. I would recommend picking up a some books or e-books on the subjects I listed above. All good technical analysis books should provide insight on what I mentioned. Good Luck.
  • #9
  • Aug 11, 2015 4:40am Aug 11, 2015 4:40am
Counter trend line trading is the lowest risk, most proven strategy in existence. See my thread, the ' counter trend line '. Basically, find a trend on whatever time frame you use, and wait for a pullback, then using a counter trend line ( and experiment with moving averages so that you also have one of these to aid you with your entry) enter you trades in the direction of the trend. The exits are trickier, but either set a pre-determined exit, or exit when the candles indicate that the price has stalled. The best thing about this strategy is that your pips will usually come very quickly, as the price usually moves off very fast once the pull back had come to an end. Avoid trading against the trend at all costs, no matter how tempting it may be. If it's a change of direction, you will usually have a chance to get into it once it is confirmed.
  • #10
  • Aug 11, 2015 5:00am Aug 11, 2015 5:00am
Hi, the best strategy is the one you've developed yourself through the years of hard, hard work. YEARS. There is no short cut. I would suggest to first learn as many methods as you can that are vastly presented on this website. Then, you will begin to see that you like a tiny little bit of one method and a tiny little piece of another method. You may stich them together, now you have 0.01% of your future strategy. Read more, ask traders and your little system will grow and develop. In 5 years from today you might get to something that is kind of good... then another few years and you'll be there. That is if you arent being lazy and really work hard everyday! Sorry, not trying to discourage you or anything like that, but that is how all successful traders that I know develop...with TIME and HARD WORK.
  • #11
  • Aug 11, 2015 5:23am Aug 11, 2015 5:23am
Quoting nolimitz
So, this happened. I have lost my initial deposit, most certainly because I was using stupid strategy. I got another small depo, do not use high leverages, but I do feel that I am stuck with the same trading technique. Are there any good methods to learn new trading technique, because my brain certainly cannot adjust on its own?
wich strategy did you use?
Bulls are stupid Animals!especially when Im short!
  • #12
  • Aug 11, 2015 5:33am Aug 11, 2015 5:33am
Quoting adil.trader
that is how all successful traders that I know develop...with TIME and HARD WORK.

This.

Very, very, very, very much this!

The huge mistake is to look for short-cuts, which is why the word "Desperate" in your thread-title alarmed me: desperate people tend to be the ones looking for short-cuts. That's just a way of stacking the deck even further against yourself, in a field of endeavour in which the success-rates are very low to start with. Sorry.
  • #13
  • Aug 11, 2015 6:44am Aug 11, 2015 6:44am
Quoting adil.trader
Hi, the best strategy is the one you've developed yourself through the years of hard, hard work. YEARS. There is no short cut. I would suggest to first learn as many methods as you can that are vastly presented on this website. Then, you will begin to see that you like a tiny little bit of one method and a tiny little piece of another method. You may stich them together, now you have 0.01% of your future strategy. Read more, ask traders and your little system will grow and develop. In 5 years from today you might get to something that is kind of...
You are of course right, there are no short cuts in trading and anyone looking for them will be disappointed. However, I credit most aspiring traders to realise this, or at least to realise it pretty quickly after starting out. What anyone can be helped with by more experienced traders is what to concentrate on and what to avoid. There is no single strategy that can be applied to anyone without a great deal of testing and learning because around any strategy there are a whole multitude of factors which have to be learnt - how the markets move between support and resistance being the main one. That said, there is no harm in asking for a strategy/method here on FF, taking anything people may suggest, exploring and testing and then adapting to suit one's own style. That is not a short cut, that is listening to others who have greater experience and using that experience to improve one's own trading.
  • #14
  • Aug 11, 2015 11:46am Aug 11, 2015 11:46am
Money management. I have yet to master it trading fx but I use this for trading binary Options. I very much doubt it's the strategy your using, But feel free to give this a try.
Start of small say 5%
Level 1/
$10 100% win = $20
$20 = $40
$40 = $80 / this buys you 8 x $10 trades / Total risk = $10 = 8/1 risk reward

Work on compounding these three trades and simply repeat the process. /
Later you can then move up a level.

Level 2/
$80 = $160
$160 = $320
$320 = $640

Level 3/
$640 = $1280
$1280 = $2560
$2560 = $5120 etc
You will have to work out lot sizes etc but the rules are the same.
  • #15
  • Aug 11, 2015 12:46pm Aug 11, 2015 12:46pm
lol...you just started trading forex..how come you learn a winning strategy so soon??

You have to lose many accounts first, then burn friends accounts, then many relatives accounts if you are so desperate...

after many years of doing all these things, one day you'll learn a great strategy which works for few days/weeks then again booom!!!!!!!

It is all about money management!!!
When Scalpers win, I lose and Vice varsa...
  • #16
  • Aug 11, 2015 4:26pm Aug 11, 2015 4:26pm
Quoting nolimitz
So, this happened. I have lost my initial deposit, most certainly because I was using stupid strategy. I got another small depo, do not use high leverages, but I do feel that I am stuck with the same trading technique. Are there any good methods to learn new trading technique, because my brain certainly cannot adjust on its own?
So, over 24 hours after you post this request and you've provided no additional information, questions or comments. Maybe your lack of follow through points to part of your problem as a trader. How the heck can anyone here comment on good learning methods for you? And more importantly, why would anyone be interested in helping you if you show such little regard for your own thread?
  • #17
  • Aug 12, 2015 3:58am Aug 12, 2015 3:58am
Quoting Goldflake
lol...you just started trading forex..how come you learn a winning strategy so soon?? You have to lose many accounts first, then burn friends accounts, then many relatives accounts if you are so desperate... after many years of doing all these things, one day you'll learn a great strategy which works for few days/weeks then again booom!!!!!!! It is all about money management!!!
Hi Gold Flake,

I have been following your replies to many threads. I am a new trader too and knows nothing about money management, I was wondering if I could learn for any videos or anything. Is there any video or tutorial that you would recommend to watch so that I can learn money management.

Thanks
  • #18
  • Aug 12, 2015 4:12am Aug 12, 2015 4:12am
Quoting vdubus
Money management. I have yet to master it trading fx but I use this for trading binary Options. I very much doubt it's the strategy your using, But feel free to give this a try. Start of small say 5% Level 1/ $10 100% win = $20 $20 = $40 $40 = $80 / this buys you 8 x $10 trades / Total risk = $10 = 8/1 risk reward Work on compounding these three trades and simply repeat the process. / Later you can then move up a level. Level 2/ $80 = $160 $160 = $320 $320 = $640 Level 3/ $640 = $1280 $1280 = $2560 $2560 = $5120 etc You will have to work out lot...

Hi ,
could you elaborate on this more please does this has to be one of martingale system ?
  • #19
  • Aug 12, 2015 4:20am Aug 12, 2015 4:20am
Quoting FXnitroC
{quote} Hi , could you elaborate on this more please does this has to be one of martingale system ?
martingale but backwards / Double your winnings not your loses
  • #20
  • Aug 12, 2015 4:30am Aug 12, 2015 4:30am
I will post in here once and once only - FORGET indicators FORGET martingale and all the other strategies that use lagging indicators. ALL indicators lag period, they move based on price moving nothing more.

You do not have to blow account after account, you need to realise there is order to this market and its supply and demand. You must learn price action and how it relates to supply and demand.

Set and Forget is what you want to put your effort into in my opinion. Its not costly and will keep new traders away from the lower time frame charts. New traders lose because they are looking for quick profits scalping......

just look at set and forget website, there is also a lot of free stuff from Alfonso on you tube and the biggest post of anyone here in forex factory which is all free. The cost comes in if you join the forum.......

If you cant be bothered to learn supply demand and realising you dont need indicators to trade then put your money somewhere else because forex is not a quick fix.....

http://www.forexfactory.com/showthread.php?t=428204
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