What is the best forex strategy for beginners?

[xelmo]

I'm not really a beginner, because I start trade a few months ago. I'm a self-taught!

The purpose of this post is to start a discussion about what are on the market today the best resources/courses for newbie, both free and not-free.

Thanks

 

[Pharaoh]

The best strategy is to start by spending NO money. Go through all the free forex education materials at the FPA and elsewhere. When you are done with that, you'll be in a far better position to determine which (if any) commercial products you may want or need.

Here's a quick listing of a lot of the items available at the FPA:

https://www.forexpeacearmy.com/fore...950-guide-fpa-s-free-education-materials.html

 

[iownatm]

To learn Forex you do not need to buy any product as there is enough Study Material on FPA and baby pips.

But you are after a Strategy for a beginner, and I would recommend any strategy which is based on longer timeframe 4HR, Daily, Weekly. Most traders loose money when they do overtrade or chase loosing trade and that normally happens in IntraDay trading. Search for Fibonacci Makeover for trading once in a week system.

 

[perryfx]

I'm not really a beginner, because I start trade a few months ago. I'm a self-taught!

The purpose of this post is to start a discussion about what are on the market today the best resources/courses for newbie, both free and not-free.

Thanks

FPA, Babypips,FF are some of the best places to learn about forex trading free of charge. To get updates on news, trends and read articles you can go to forexlive, dailyfx, 02ndskies forex, etc.

 

[capitano]

I'm not really a beginner, because I start trade a few months ago. I'm a self-taught!

The purpose of this post is to start a discussion about what are on the market today the best resources/courses for newbie, both free and not-free.

Thanks

There is a great buzz about an Italian profitable strategy called Smalfi.
They state that with only 10 mins a day they can manage all and make profits.
Do you know it?

 

[Pharaoh]

If it works, I'd be interested in more info. However, publicity can be purchased. I'd like to see some real trading records to back up how successful Smalfi claims to be.

 

[yama]

I'd like to see some real trading records to back up how successful Smalfi claims to be.

They publish this account
Global Forex Forum ? View topic - MyFxBook: real account with SMALFI Method
and those records
2011 62,5%, 2012 29,5%
On the site there are a lot of stuffs about them

Seek and ye shall find!

 

[Pharaoh]

Balance graph looks good, but check out the equity line - that includes floating P/L. The floating losses at some points are huge.

 

[yama]

Balance graph looks good, but check out the equity line - that includes floating P/L. The floating losses at some points are huge.

If I read properly they never suffered any loss

They wrote that everything is calculated in advance

sounds interesting

 

[Pharaoh]

They never suffered any loss because they left losing trades open until those trades came back into profit. This can work some of the time, but can also result in a margin call if the market moves too far against those open trades.

Look at the yellow line undeneath the red line on those charts. Also note the 68.91% drawdown number. The system does appear to be making a profit, but it is taking very large risks to do so.