New strategies

[CortneyWilliams]

So far, I'm only familiar with the stop loss strategy in forex. I vaguely know other strategies as I've only started a while back. What other things could do so I'd have better chances of gaining a trade profit?

Oh yeah, I've read somewhere that "hedging" is not allowed in forex trading? I don't what that is and why it's not allowed.

 

[intradaybill]

Stop loss is not a strategy in itself. It is more of a risk management method.

http://en.wikipedia.org/wiki/Technical_analysis

 

[CortneyWilliams]

Stop loss is not a strategy in itself. It is more of a risk management method.

http://en.wikipedia.org/wiki/Technical_analysis

I may have to study this a bit more. From what I understand, these are charts and graphs that shows current trends? Are there any videos for these? And are there other analysis?

Thanks a bunch.

 

[OliverMatt]

well, in my opinion one of the simplest ways to determine a trend on a graph is to use a moving average. So i would suggest you to research that area.

 

[Jason101]

I may have to study this a bit more. From what I understand, these are charts and graphs that shows current trends? Are there any videos for these? And are there other analysis?

Thanks a bunch.

Just remember it is FREE to learn to trade.

There is no need to put any money in any trading account.

Just practice in a free demo account and read lots.

 

[CortneyWilliams]

@OliverMatt: I've tried looking it up in wikipedia but it looks complicated.

@Jason101: Yes, thanks for the advice. I'm trying to find a free demo account. Are there any differences from one demo account to another?

Edit: BTW, I found this video on the forums that shows moving average cross system with metatrader. What's the ideal span of time to calculate moving average? I think 30 days is a bit short.

 

[OliverMatt]

It does look ridiculously complicated in wiki, but the truth is it's one of the easiest formulas in statistics. I strongly suggest you to research it somewhere else. There is no ideal timeframe to use moving average (MO) so it's up you the tinker with it till the results suit you.

As for demo accounts. there might be some differences. For example some brokerages offer demo accounts for limited period of time.

 

[Jason101]

@OliverMatt: I've tried looking it up in wikipedia but it looks complicated.

@Jason101: Yes, thanks for the advice. I'm trying to find a free demo account. Are there any differences from one demo account to another?
Edit: BTW, I found this video on the forums that shows moving average cross system with metatrader. What's the ideal span of time to calculate moving average? I think 30 days is a bit short.

There are plenty of demo accounts that use metatrader.

 

[CortneyWilliams]

There are plenty of demo accounts that use metatrader.

Oh okay, thanks a lot. I'll look into some accounts now.