First thing to ask yourself when starting to trade Forex is what is my strategy? It is important to have a good strategy and it doesn’t have to really be perfect so long as you have something to work with. Many beginners think that they need a perfect strategy and they never start actually trading before they find one. The truth is, you may never find a perfect one, veteran traders perfect their strategies throughout their careers.
As a beginner you should start with a simple strategy. You shouldn’t try to jump on complicated indicators or techniques while you learn. Start small then add to your trader’s toolkit. A very simple yet powerful strategy is using the Moving Average indicator. It works on higher timeframes so you can’t make many trades with it, but it’s perfect to begin with. And many traders base all their trading on it.
The system is simple. Use the Moving Average indicator and simply wait for a trend to turn around. Once the price crosses the indicator’s line, wait for 2-4 candles to be entirely above the line, then open a trade in the respective direction.
This is best traded in non volatile markets and on 1 hour chart and above. You can also combine several timeframes to further qualify your trades. This makes for a long term strategy that doesn’t give you fast profits, but it is quite reliable.