Question on the best currency trading system
- Some Question...
- # crossing method #
- [WARNING CLOSED!] Any newbie question, so as not to clutter up the forum. Professionals, don't go by. Can't go anywhere without you.
There are free forex trading strategies and systems and also paid forex trading systems that you can search for and use but before you go down that path here is a bit of food for thought:
If you want to make consistent profit in the forex market, you need to implement a forex trading strategy which will allow you to see the market for what it really is.
The forex market is where sellers and buyers meet to determine the exchange rate between two currencies. The movement of price you see on a forex price chart reflects this process of exchange. The main objective of profitable forex trading strategies is to provide you with a system of rules to take advantage and profit from these price movements.
Many new forex traders often run into forex trading strategies that simply do not give them the tools they need to profit consistently off the price movement. Many of these forex trading strategies may look or seem to be effective at first but sooner or later as you keep digging in trying your way around these forex systems, you end up realizing that they are just too confusing, too complicated and will leave you frustrated.
So how on earth can you determine if a forex trading strategy will be profitable or not?
To be quite honest, it is hard to answer this question simply because as I used to say “the forex trading strategy is as good as the trader who trades it”. However, even in saying that, there are certainly differences. What differences? Well, for instance the effectiveness and accuracy of various forex trading strategie
Let me talk about effectiveness a little bit here, ok?
If you have traded long enough and tested hundreds or if not, thousands of forex trading strategies (hah hah!) you will notice that the most profitable forex trading strategies are simple in design and implementation. What that simply means is that you should never get a headache because of trying to implement a particular forex trading strategy. If you do so, then guess what? You have stumbled onto one of the many complicated and confusing forex trading strategies out there.
Many say that success in forex trading has very little to do with the forex trading strategy and that being successful in forex trading largely depends on being consistent and disciplined in following your risk management and stuff like not overtrading.
But I don’t believe that is all true
Why? Because you can’t be consistent and disciplined if you don’t have a profitable trading strategy! That’s wh
The profitability of the forex trading strategy gives you CONFIDENCE because NOW you know you have an edge in the forex market.
Let me give tell you a story about what having an edge means:
In June 1967 six day war, the Israeli soldiers had to face the brunt of the Syrian Army in the Golan Heights. Now, the Syrian Army had the Golan Heights littered with concrete bunkers and with thousands of Syrian Solders armed to the teeth. AK47 was their weapon of choice. No Israeli tanks could fight this ground battle as the Golan heights was littered with volcanic boulders-a tanks nightmare! The Israelites soldiers had the Modified Uzi sub machine Gun. Now, the AK47 was a longer weapon compared to the Uzi which was very short. Guess who won the battle of the Golan Heights?
The Israelites. Why?
Simple… the battle had to be fought in close combat in underground bunkers and the Uzi was way superior weapon compared to the AK47 in close combat situations
The point here is this: it makes a whole lot difference in what type of weapons you use.
So now that your history lesson is over, let me bring you back to the present and ask you this simple question: what kind of “weapon” are you using to trade the forex marke
Sometimes you don’t have to be so harsh on yourself and blame yourself too much because it is the forex trading strategy you are using that is not profitable enough which means you don’t have confidence in that forex trading strategy so what do you do? You try this and that…you tweak and test this and that…and still you are not happy yet. So when you are frustrated beyond belief with that forex trading strategy, what do you do? You search for other forex trading strategies again…and the process is repeated…again…and again. You become a monkey trader: jumping from one forex trading strategy to th
If there is anything thing worth saying then this is it…this is the one:
If you are not using a method that you know can be profitable over-time, you will not be able to develop the confidence and discipline to follow it.
Gold is rare and is hard to find… so are profitable forex trading strategies. For many, it may seem like profitable forex trading strategies are elusive and it is also no wonder that you may even have to spend a lot of time and money on many ineffective forex trading strategies on the internet. Sometimes the most profitable trading strategies are those that look so simple to you that you think “geez! this is just too simple” and what you do is you would continue searching for the most sophisticated, complex and advanced forex trading strategy imaginable because you think that the more it is that way, the more profitable it will
How wrong you are!
So how do you find profitable forex trading strategies?
Well, the first thing you do is research. Research about the particular forex trading strategy that you want or are thinking about of using before you decide to commit your time and or money to learn it. Be very wary of any forex trading strategy that makes outrages claims of instant trading success. The truth is there is no such thing as instant trading success. Successful trading in forex takes time and experience and there is no shortcuts.
So what you do is check out all the options out there and find a simple forex trading strategy that has been used effectively by other traders for many years. In other words, look at their results and reviews or what they are saying about a forex trading strategy. The longer it is used by many traders, that mean that the forex trading strategy has stood the test of time.
Then next thing you do is demo test this forex trading strategy and see what results you get. Never get into live trading without demo trading first. Never get into live trading within 1 week or 2 weeks when you see how profitable the forex trading systems is in the first few weeks. You must test the forex trading strategy and see how for at least 3-6months or more and see what kind of results you get. Once you are confident that the forex trading system is profitable then go to live trading.
So in summary, the best forex trading strategies are:
Simple (that means not too many indicators and rules, ok?)
Easy to understand and implement
Profitable
Lots of traders having success with it.
Stood the test of time.
Now, here it the problem: you can get one of the best forex trading strategies and you know it works because you have seen that the trading strategy works but then you do these things like not waiting for the right setups, overleveraging and taking larger risks thinking you will make a killing in one go, over trading and you name it…and guess what happens
You start to suffer some serious losses!
Who do you blame now? The forex trading system or yourself?
Good luck in your search...
Remember a recipe may work for other but may not work for you!
there are 10 plus forums do offer free system created by it's member, you may search google for forex forum.
Note:
here the step that I using to test the system.
1. chart. if the first impression, that you like the system try it.
2. follow the rules. (most trader failed for the system is they do not follow the rules).
dont buy create yours, it's hard work but it pays off
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