The forex newbies should keep things very simple. There are a lot of very complex forex strategies and systems out there. The assumption is that the more complicated a system is, the better because a fewer amount of people use it. That is not necessarily true. If you use a strategy that many people use, then you are following the crowd, and you can make that work for you.
Once you have found a forex strategy or system that you clearly understand how it works and that is ultra simple, then you should test and practice using it. By testing I don't mean see if it is a viable strategy. If it is a basic technical analysis trading technique like support and resistance or trading based on a moving averages, these are widely accepted strategies that many traders successfully use.
|
