2 – Try One Trading Strategy and Stick with It
I have seen it often many of beginners in forex trading run behind the different strategies to trade, they want to try all of them without any knowledge, and it is highly dangerous. I recommend you, choose one strategy and try to trade with that strategy keeping mind, more confusions lead you maximum failures.
In my past experience, more than 75% traders have to suffer losses due to changing the trading methods and strategies trade to trade. Logically it is not good one attitude. If you jump strategy to strategy, you are simply operating on false hope and being illogical, and you will lose money.
There are numerous methods, strategies, studies how to take position of an order in forex trading; it is not possible to understand all or many of them for a new trader. Think a while, it will be much better to try one study, not try to all. Mind it, each study and strategy has genuine logics and principle, if you choose any one, definitely it will create perfection in your trading attitude. You cannot let losing trades affect you too much; you really do need ice cold discipline to excel at trading.
I exemplify myself, in beginning I chosen candlestick study with RSI forex chart analysis, I learned a lot of the practical behavior of RSI line on the chart. There were many other studies such as Parabolic Forex Trading, Forex Fibonacci Studies, Elliott Wave Theory and so many others, but I did never try all these. I focused only RSI and Candlesticks, by the grace of God, I gained much more in forex trading. When I felt somewhat how perfection in RSI studies, then I tried others. So I recommend you to follow the tips too that have made me successful in forex trading.