I am new to Forex and I am about to start my first trades.

I am new to Forex and I am about to start my first trades by mapping the EUR/USD and JPY/USD pairs. After watching many videos, I adopted the strategy of using MACD and a 200-period moving average, always following the trend. When the MACD line crosses with the 26-period average, I enter a sell or buy position depending on whether it is above or below the 0 axis. My leverage today is 1:1000 and my account balance is $1,000. For the experienced traders here in the forum, is this a good strategy? Can you give me tips? Do you make a living from trading?

I will be doing Day Trading on MT5.

hello

Hello

Hey, Ollie.
Believe me or not, I wish I could go back to 3 years ago and start my career with the simplest strategy available and focus on it for the next 2 to 3 years!
Different indicators, youtube videos, trading tools like Ninja, TradingView,.... cannot create a trader.
That's the general part.

But for your setup:
First of all, you confirm wich setup is good for you, not other traders. Go back to the last year and start from 2023/01/01. Check your setup for this period. Check how your setup responds to trend moves and range periods. Every setup or trading method is good for an small portion of the market. In trend market, almost all strategies work! But range market wears down your account. At the end, remember that EURUSD is the hardest pair to trade but USDJPY is a good one. To learn how to overcome ranges deal with EURUSD. but do your trades on JPY.

Best regards.

Findforex_demo posted:
Hey, Ollie.
Believe me or not, I wish I could go back to 3 years ago and start my career with the simplest strategy available and focus on it for the next 2 to 3 years!
Different indicators, youtube videos, trading tools like Ninja, TradingView,.... cannot create a trader.
That's the general part.

But for your setup:
First of all, you confirm wich setup is good for you, not other traders. Go back to the last year and start from 2023/01/01. Check your setup for this period. Check how your setup responds to trend moves and range periods. Every setup or trading method is good for an small portion of the market. In trend market, almost all strategies work! But range market wears down your account. At the end, remember that EURUSD is the hardest pair to trade but USDJPY is a good one. To learn how to overcome ranges deal with EURUSD. but do your trades on JPY.

Best regards.

Thanks for the tip, I intend to start my operations next month. I am studying a lot and I am going to take this test in the period from 01/2023 until today. I really want to live from this fascinating market that is Forex, nowadays I work in a way that I don't have time for myself or my family

That strategy sounds pretty easy to code into an EA. I would do that and back test it. You should find out if it is profitable

Oliveira27trader posted:
I am new to Forex and I am about to start my first trades by mapping the EUR/USD and JPY/USD pairs. After watching many videos, I adopted the strategy of using MACD and a 200-period moving average, always following the trend. When the MACD line crosses with the 26-period average, I enter a sell or buy position depending on whether it is above or below the 0 axis. My leverage today is 1:1000 and my account balance is $1,000. For the experienced traders here in the forum, is this a good strategy? Can you give me tips? Do you make a living from trading?

I will be doing Day Trading on MT5.

It sounds like you're already trying to trade, so are you getting proven success with your strategy? For example, you can use a demo account to verify this.
Honestly, I use a different method, I use bollinger bands and RSI and MA, but with the 1h timeframe chart at the upper and lower bollinger bands, I check the position of the RSI and if both are at good highs or lows, I set the order. I think this method is very accurate.
I can trade if you want to use this method. Also, I trade using AI which is great.

SGForexTrader posted:
That strategy sounds pretty easy to code into an EA. I would do that and back test it. You should find out if it is profitable

Do you use EA trading?

Using an EA for my trades really helped. I realized that one strategy I was using was not working properly when I back tested it

tdj120 posted:

SGForexTrader posted:
That strategy sounds pretty easy to code into an EA. I would do that and back test it. You should find out if it is profitable

Do you use EA trading?

Sorry me for the question, because I'm still a beginner. The strategy I put as the main subject (MACD and moving average of 200) I will still test and confirm if it is profitable. About EA, what would it be? And about your strategy, do you have any videos that you can recommend me to test as well?

How much monthly profit do you consider for your account?

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Fu7Ke posted:
How much monthly profit do you consider for your account?

Hello bro!

At the moment I don't have a monthly profit in forex, as I'm still studying. I want to find a strategy and focus on it.

Oliveira27trader posted:

tdj120 posted:

SGForexTrader posted:
That strategy sounds pretty easy to code into an EA. I would do that and back test it. You should find out if it is profitable

Do you use EA trading?

Sorry me for the question, because I'm still a beginner. The strategy I put as the main subject (MACD and moving average of 200) I will still test and confirm if it is profitable. About EA, what would it be? And about your strategy, do you have any videos that you can recommend me to test as well?

EA is an automated trading system, especially in the age of AI, where automated trading systems developed by professional financial analysts will become the mainstream traders of the age.
Sure, but not here. Do you have any other contact information?

Oliveira27trader posted:

Fu7Ke posted:
How much monthly profit do you consider for your account?

Hello bro!

At the moment I don't have a monthly profit in forex, as I'm still studying. I want to find a strategy and focus on it.

At what percentage return per month do you think you would be satisfied?

Oliveira27trader posted:

Fu7Ke posted:
How much monthly profit do you consider for your account?

Hello bro!

At the moment I don't have a monthly profit in forex, as I'm still studying. I want to find a strategy and focus on it.

OK, if you are interested, you can take a look at some of my signals and copy them for free，I prefer high profits, but at the same time I also use low-profit robots as risk control, so the monthly profit is between 8% and 32%.

@Fu7Ke Where does one find your signals in signalstart? I could not find a listing neither under Fu7Ke nor The Star of Forex Profits.

Hi, If you are new to trade. First, learn real-time trading experience, maintain profit, and drawdown, and then start with the live trading platform. If you want to know where you can get all the stuff like expert advice, real trading experience, and evaluate your trading skills. Best evaluation as per my suggestions!

thomaslampe65 posted:
@Fu7Ke Where does one find your signals in signalstart? I could not find a listing neither under Fu7Ke nor The Star of Forex Profits.

I use a lot of robot signals, usually they are free for the clients, not paid.