Basic strategies

shadowninja said:

Over the last couple of days, I've read about 5 different basic strategies... (on the forum itself and in the traderpedia/knowledge section)... random thoughts:
-Makes for a more efficient day
-Gives a better understanding of how things work
-Could you just get confused trying to remember them all?
-Probably better off just choosing one or two for different timeframes and focusing even though you'll miss potential chances for profit

What do you more experienced traders think?

Personally, I think I am just going to trade the trend. It's worked in the past and I will just lose more money experimenting.

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brutusdog said:

shadow,

1. decide what market you want to trade.
2. decide what time frame you are comfortable with / suits your situation.
3. research this market, understand it what hours are volatile / fast which flat / slow.
4. what do you want from trading it relative to your level of experience...be realistic.
5. will you use indicators or price only.
6. if indicators understand how and why they display information.
7. if price the importance of various times / figures eg round numbers.
8. you say you want to trade the trend?....how will you define the trend? over what time period?

this is to start. when you know all of this then maybe look at systems ideas. any that you take from somewhere else you will need to backtest to have the confidence to use profitably.

all the best in your journey.

bd.

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ceydababy said:

Quite agree BD....

However, I would add as we have discussed previously that all these "systems" work to a point..The problem is the man who is pushing the buttons.

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