I am a full-time trader since the past 4 years I trade in Indian markets. I recently started to look into forex and I find it a lot of things like smart money and ICT and people naming basic Fibonacci retracements, equilibrium and support zones, order blocks, and whatnot. I really want to learn to be a profitable trader in forex. My strength is I am a disciplined trader and I barely overtrade since I’ve been doing it full-time for a while now. But I’m unable to devise a strategy. There are too many things thrown all at once. I’m trading on a demo currently and want to get familiar using MT5 as it is a new platform to me and see how things go. If you guys can help me to what to do or point me in the right direction if you’ve made it to being a consistently profitable trader. I know profitable folks don’t go on answering questions but please I won’t take a lot of your time. 
My advice is that when you see terms like ICT, SMC, FVG, animal soups, and other such ridiculous names… run away as fast as possible.
Oswin said:
My advice is that when you see terms like ICT, SMC, FVG, animal soups, and other such ridiculous names… run away as fast as possible.
Hahahaha… Can you please suggest to me someone who isn’t like these? I’m really looking for resources.
@Fife
Maybe you should first take the free course on Baby Pips to get a flavor of pretty much everything at a basic level.
Oswin said:
My advice is that when you see terms like ICT, SMC, FVG, animal soups, and other such ridiculous names… run away as fast as possible.
Order Blocks and Fair Value Gaps are working pretty well with DAX, XAU, and some forex too. I don’t know much about ICT and SMC but OBs and FVGs work.
@Bran
I also can attest that I use FVG & order blocks on DAX & XAU, & NAS100. It works exceptionally well, but my advice OP would be to truly study the market you’re trying to trade and really watch how it moves.
- Strategy 2. Risk management and proper execution 3. Journaling 4. Analysis and optimization. A data-backed approach with a mathematical edge over the market is the only way to achieve long-term profitability.
Hi just a few tips that I felt have helped me. I have tried many different strategies, you name it and I probably have tried it. What works for me might not work for you. So I suggest to just go and try different strategies, backtest it a lot and kind of get the feeling of how the strategies work. Settle down with the one that you feel is easiest to stick to the rule. Because at the end of the day, it’s all about being disciplined and consistent. With that, I’ll end with my favorite quote for trading: “quality over quantity, work smart not hard” you don’t have to work hard to make money in trading, just work smart by choosing quality setups consistently.
Tldr: try different strategies, stick with the easiest for you. Backtest, Work smart not hard. Quality > quantity setups.
@Scout
Thanks a lot for taking out your time I really appreciate it. Where can I look for inspiration for the strategy to be exact? I see a lot of fake people sharing some bs on YouTube.
Fife said:
@Scout
Thanks a lot for taking out your time I really appreciate it. Where can I look for inspiration for the strategy to be exact? I see a lot of fake people sharing some bs on YouTube.
You can’t go wrong with the basics, namely support & resistance.
Just trade real-time prices. That’s all. Don’t overcomplicate. I have been trading for the last 10 years and a simple 8,21 EMA cross strategy. That’s all I need on 5 min chart. Any future product. My 2 cents.
Same journey, left NSE 6 months ago and haven’t looked back, best thing I ever did. My advice would be stick to basics, don’t overcomplicate stuff, day trading is already hard enough. Most terms you hear or would hear like ICT, SMC etc. are one way or another just repackaged stuff so if your basics are on point you will learn to add 1 to 1 and make 2 just by trial and error.
Fife said:
@Rayne
Thanks man, big help… Mind if we connect on DM?
Sure.
Hey, thinking of quitting Indian markets. Are you trading using any funded firms?
Risk management… risk management… risk management…
You can pretty much make anything work if you put enough time into refining it through hundreds of trades and trial and error. But if you’re already a profitable trader, why are you looking into forex? You’re going to get a million different answers from a bunch of different people, most of which aren’t profitable. Try to implement what’s already working for you. Do whatever you did to become profitable in Indian markets.
@Riley
I’ve been thinking about moving out of India hence I was looking for something I could trade irrespective of the country I stay in. I am an equity trader and the setup I have in my market isn’t profitable in FX.