Hello guys. What are the possible Currency pairs trading strategies that a newbie can follow up. It should be from personal observations, beliefs and practices. Thanks.
In my opinion, the most accessible strategy for a novice trader is trading the same signal based on some indicator or chart. Many traders say that it is worth trading what you understand best, a certain signal. Many beginners, after watching various video courses, cover their trading terminal with a million technical indicators and think that the more indicators on the chart, the better. In fact, it turns out that they overload themselves with unnecessary information and instead of a good signal, they get continuous indicator noise.
I would recommend choosing simple indicators like levels or trends. They are the easiest to remember and most often are good signals to open a trade. For example, when I started my trading, I always looked for trendlines on the chart and waited for the price to go beyond its limit. After that, I opened a deal. Then I repeated the same thing many times and looked for just such a pattern on the chart, so I formed my strategy and statistics. Based on just one pattern and without using a million technical indicators.