Starting your trading journey can feel overwhelming. With countless indicators and complex strategies, it's easy to get lost. The key to success as a beginner is to start with a simple, effective, and repeatable strategy. This article will outline one of the best trading strategies for beginners on Quotex: Trend Following with Support and Resistance.
The Strategy: Trend Following with Support & Resistance
This strategy is based on a classic trading principle: "the trend is your friend." Instead of trying to predict market reversals, we simply aim to join an existing trend at a high-probability entry point. It combines two core concepts:
- Trend Identification: Determining the overall direction of the market (up, down, or sideways).
- Support and Resistance: Identifying key price levels where the market has previously bounced off.
Your 4-Step Trading Plan
Here’s how you can implement this strategy in just four simple steps:
- Step 1: Identify the Main Trend. The easiest way to do this is with a Moving Average. Add a 50-period EMA to your chart. If the price is generally above the EMA, the trend is up. If it's below, the trend is down. You can learn more in our detailed guide to trading with Moving Averages.
- Step 2: Find Key Support or Resistance Levels. Look for obvious price areas where the market has reversed in the past. In an uptrend, you're looking for previous peaks that can now act as 'support' (a floor). In a downtrend, you're looking for previous lows that can act as 'resistance' (a ceiling).
- Step 3: Wait for a Pullback and Confirmation. Don't enter a trade when the price is far from your key level. Wait for the price to pull back to your support (in an uptrend) or resistance (in a downtrend) level. Your confirmation is a candle that clearly rejects this level and closes back in the direction of the trend.
- Step 4: Place Your Trade. Once you have your confirmation, place your trade in the direction of the main trend. For example, in an uptrend, after the price bounces off support, you would place a 'Buy' or 'Up' trade.
Why This Strategy Works for Beginners
This approach is ideal for new traders because it builds good habits. It teaches you to be patient, to wait for high-probability setups, and to trade with the market's momentum instead of against it. It removes guesswork and provides a clear, rule-based system for making decisions.
The most critical step is practice. Before you risk a single dollar, test this strategy thoroughly on the free Quotex demo account. This will allow you to build confidence and ensure you understand the mechanics in a live-but-risk-free environment.