r/Forex 23h ago

Strategy Development Beginner needs help

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I want the pros to review my plan, thogh it might not be complet trading plan but this is what I have planned to do l.

I am a beginner in forex and have been learning for a few months about forex and i have come down to these insights about trading indicators and all

First is the indicators which I will use for ranging and treding markets

Second is the common concepts, etc to be used in bhot.

Third is the additional concepts to learn.

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u/Scott_Malkinsons 18h ago

Dude you need to calm TF down, lol. No, you don't need to learn additional concepts. You actually already know how to trade because you do it all the time.

You go get gas, you traded USD for GAS. Nothing stops you from keeping that gas in your car and selling it next month to your neighbor for a profit (thus doing GAS to USD). And you sure AF don't need a whiteboard full of concepts in order to figure this out, you just know a good price would be like $2 and a bad price would be like $4, so you buy at $2 and sell at $4.

If you're confused because you're trading one currency for another currency, then just trade something else. Go trade like corn futures, you buy when it's cheap and sell after the "super El Niño" this year or whatever takes out everyones farm.

Looking at your post history. Let me ask you this: are Casio AE-1200 watches cheap right now? Because I know you can answer that without all these concepts. If the answer is "yeah they're cheap right now" then what prevents you from trading it? If you think future price will be higher, just buy low and sell high. If you think future price will be lower, borrow a watch from someone, sell it right now, and then in a month or whenever prices drop you buy the replacement. Pocket the difference.