03 April, 2008

Beginners trading strtegy ??

Hello There!!I need to know what simple strategy I need to employ base on the following facts.I am a newbie1. I have an access to FXCM practice plarform.2. I can only place practice trades early in the morning 4:30 - 6:00 am. than leave for work, while at work entry positins w/ stop and limits are unattended.3. Home by 3:30pm to look at the results.A- What time charts I need to study in the morning ( monthly, weekly, daily, hourly etc.)B- What pivots points (PP) I should use on what charts/ using Peter Bains trading strategy. His strategy is to place daily PP on 15min. chart and weekly PP on daily chart and also placing weekly PP on 60min charts. I basicly need to scale it up or similar to my time frame charts as mentioned above. C. What technical indicator(s) I should use.At this point I want to keep it simple. Master this techniqe first and than move to higher level. I also dont care about profits that much since I am paper trading. As you may know one can learn a lot from loosing games than from winning games. My tennis coach at ASU (AZ State Univ.) told me that many times.

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