Hey Zest, welcome!
I invest in both ASX equities and trade FX too. You'll find that a lot of the skills, knowledge and psychology you learn will transfer across the two. I'd say that my discipline from trading FX has made me a better stock investor for sure..
If you're looking for some good EA advice, this is the right forum - a lot of the guys on here have some good info. I tend to me more of a... "old-school" trader...
As for a system, make sure you stick to one and make minor adjustments from there. I see a lot of guys get into FX and constantly change their method because "it doesn't work". You need to work out whether it's the system that doesn't work or if it's just a draw-down period.
On the topic of learning, I'm in the process of helping a buddy of mine (he's only new to fx) and he found this example useful. I tried to explain that it doesn't matter what strategy you use - there's no "holy grail" for all.. only a holy grail for each individual. The below is a standard text-book downtrend on the 1hr in GU from not long ago.
It looks confusing but see below:
Black lines: trendline traders
Blue lines: moving average traders
Orange lines: pattern traders (flags, pennants etc)
Grey lines: horizontal S/R traders
Pink lines: candle-stick pattern traders (false-break, engulfing etc)
Turquoise lines: stochastic traders
As you can see, all strategies had multiple entry opportunities. So Sharks is 100% correct in saying find a system that works for you. I had to show this chart to my buddy because he kept pushing to learn my strategy since it works and I keep telling him - what works for me might not for you.
So, good luck and I look forward to seeing your progress and results - keep us updated!
