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From my experience the best trading system is "patience", lol... If there is a forex "holy grail", I haven't found it. However, more to your question: if you apply "filters" to systems that you know are profitable (and there are a lot of them, they just tend to be streaky), you will do very well in this market. Filters will help you weed out most of the bad trades. I know now from my own experience and from mentoring other traders; most new traders fail for 2 reasons:
Over-leveraging their funds (400:1 is crazy!)(even 200:1 is too risky)
Forcing trades when market conditions aren't set-up yet
Most new traders want the "get rich quick" plan, instead of a well planned "slow n steady" approach. I shoot for about 20% per month, but usually do much better than that. Keep your goals realistic, your leverage low and your patience high...
agree with u riffster , slowly but sure , stable 5% a month better than 200% a month then colaps
follow your rules consistently
=================== Forex Indicators Collection
agree with u riffster , slowly but sure , stable 5% a month better than 200% a month then colaps
follow your rules consistently
=================== Forex Indicators Collection
This is my second posting... after joining this forum more than 1 years ago..
in my journey in forex trading, most of people who trade in forex market, less of patience, and also greedy. Just made 4-15 % /month you will be enjoy your life in few next year... ( depend on your margin too)...
you may need two kind af acounts, why??
if you fulltime trader,
1, First account is provided to back up your life ( eat, shopping..etc)
2, Second account is managed for your investment.
The question is: how much money do you need for a month?
the result on first account should be enough to cover your monthly life
if so? you wil enjoy to trade in second account.
this is just my opnion..
__________________
Looking For Holy Grail Forex System ? May Be there is no Holy Grail.
There's one aspect of trading Forex which never fails: The price moves either up or down. That's a fact. So trading up or down will over time theoretically be a break even system. Easy, eh? You can say you're not loosing! Not bad at all since most traders around here are actually losing!
I know that if I was loosing all the time I would be yelling at my broker, yell at someone for trying to sell me a worthless piece of c*** system or be out looking for the next big thing that doesn't exist.
What I have found is that traders make the same mistake most humans do: They think too short term. I've heard people say after three unseasonably cold summer days: "So much for global warming!". There's too many traders with that kind of perspective on things. They can never win.If four trades in a row goes against them they stop and miss the next six they would have won because they are trading a system that wins 60% and looses 40%. It was just that the whole 40% came up front, but the trader will never know because he/she gave up.
I have to admit that I am human also. I keep making this mistake myself. I mostly trade a daily breakout system. This week has been horrible for my EUR trading since the pair hasn't been going anywhere looking at the daily's. It brought me three days of losses. And even if I know the system works long term I couldn't take it anymore and took a break by not setting charts last night. And guess what? I would have had the perfect trade lined up this morning which would have raked in all I've lost this week and more. I hate myself for doing that, but now and then I do. Can't help it!
I do not think the perfect system is one that never fails. I think it's one that presents it's ugly side evenly so it doesn't kill your confidence before you even get to see it's potential!
That was much-adoo-about-nothing. Sorry. Just beat break even and you're golden....literally!
There's one aspect of trading Forex which never fails: The price moves either up or down. That's a fact. So trading up or down will over time theoretically be a break even system. Easy, eh? You can say you're not loosing! Not bad at all since most traders around here are actually losing!
I do not think the perfect system is one that never fails. I think it's one that presents it's ugly side evenly so it doesn't kill your confidence before you even get to see it's potential!
yeah that's the fact.!!!
What pair u usually trade?? for up and down market??
sometimes market break it's own range eurusd range= 110 but sometimes 200 pip range.
how about EurGbp?? its seem like small range.....
__________________
Looking For Holy Grail Forex System ? May Be there is no Holy Grail.
There's one aspect of trading Forex which never fails: The price moves either up or down. That's a fact. So trading up or down will over time theoretically be a break even system. Easy, eh? You can say you're not loosing! Not bad at all since most traders around here are actually losing!
I know that if I was loosing all the time I would be yelling at my broker, yell at someone for trying to sell me a worthless piece of c*** system or be out looking for the next big thing that doesn't exist.
What I have found is that traders make the same mistake most humans do: They think too short term. I've heard people say after three unseasonably cold summer days: "So much for global warming!". There's too many traders with that kind of perspective on things. They can never win.If four trades in a row goes against them they stop and miss the next six they would have won because they are trading a system that wins 60% and looses 40%. It was just that the whole 40% came up front, but the trader will never know because he/she gave up.
I have to admit that I am human also. I keep making this mistake myself. I mostly trade a daily breakout system. This week has been horrible for my EUR trading since the pair hasn't been going anywhere looking at the daily's. It brought me three days of losses. And even if I know the system works long term I couldn't take it anymore and took a break by not setting charts last night. And guess what? I would have had the perfect trade lined up this morning which would have raked in all I've lost this week and more. I hate myself for doing that, but now and then I do. Can't help it!
I do not think the perfect system is one that never fails. I think it's one that presents it's ugly side evenly so it doesn't kill your confidence before you even get to see it's potential!
That was much-adoo-about-nothing. Sorry. Just beat break even and you're golden....literally!
i agree with you 100%
the fact remains that once your system fails 4x in a row,it is very difficult to summon the courage to enter the fifth,possible the first winning trade,especially when someone around you is telling you how many wins he has made with his system over the same length of time when your system is busy recording losses.
anyway,experience does take care of all that.
happy pipping
Greed and fear is your biggest enemy, you need to take care of that first. Sadly, you won't truly know how to deal with that unless you experience watching your live account dwindle.
When one day you don't feel the fear of pulling the trigger when you are supposed to, that's when you are going to start profiting.
after joining this forum more than 1 years ago..
Linear Mode
