There is no reason to seek a complex or convoluted strategy. The best strategies are perhaps the simplest, which involved fewer elements when making decisions. By most indicators, graphs, ratios, oscillators, etc. you use will not have better results, even it is more likely that your results are worse long term as many indicators can give you conflicting signals.
Specialize in a single currency pair
Following the above, simple works. Needless to handle and all currency pairs because this way we might escape interesting things. Focus on a single currency pair allows us to concentrate all our efforts to understand how their trading moves.
If we try to trade with 5 pairs at the same time, learn to negotiate it becomes very difficult. We will have to learn the characteristics of each currency pair separately as each pair is unique. Each currency pair:
Reacts differently to the news
They are moving at different speeds
Experience different movements depending slots
They must be managed in different ways as it remains an open position
If you are new, you start with a single pair. Once you are consistent with one, you can start to learn the characteristics of another.
Choose one term
In the same way as the above, it is advisable to start trading always using the same time horizon. This has several benefits:
allows us to focus on learning one time, therefore, we eliminate the confusion that can lead us to operate in multiple time horizons.
We should only look at a single graph, thus improving the efficiency and quality of our analysis.
We avoid conflicting signals that can occur if you use different time horizons.
Remember that all this is to make everything easier. Once you go through experience can start your analysis more complicated.
simple graphics
Most rookies accumulate as many indicators as possible within a price chart. They feel that the more indicators will fare better use.
The reality is that more indicators, the greater the degree of confusion as many are contradictory and give conflicting signals. Besides graphics become more difficult to read and have no clear signals.
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