How Can You Determine Your Own Trading Systems?

People trade their beliefs, not the markets. There are thousands of trading systems that work over there (I mean some of the systems that are being marketed), but the most important issue why many who buy such trading systems fail is that the systems don’t fit them. For example, someone who’s cut out to be a scalper will fail with a swing trading system. Therefore, how can you determine a trading system that fits your personality?

Look in the pip school. I believe there is a test that gives you an idea of what kind of trader you are.

You could also just start testing systems that coincide with your life and desired trading schedule. For example- I tried out a few different 4 hr and daily specific strategies because I didn’t want to be sitting in front of the charts for huge blocks of time to try and scalp. I also know I’m prone to fiddling with things that don’t need fiddled with. So I felt that a system where I could be as hands off as possible would be the best for me.

Depending how in-depth the test is in the school; you may also want to try googling around for a test of some sort. I’m sure someone has developed one at some point.

Try some reading material to find out - Google “5 Bullets” by Joe Trader for a (short) book defining a fast paced M1 strategy and then read Robert Miner’s “High Probability Trading Strategies” for a 1H/4H/D swing type strategy. Both are excellent - see which one suits you best by demo trading them and take it from there.

Try this trader quiz here ‘What Kind of Trader are You?’: Trader Quiz

Try, fail, learn and adjust. Know yourself. that is how I learned and determined my strategy.

Open a demo account, trade anything you want. Use other people’s systems, change it around, have fun. You’ll find out for yourself what you like. You’ll see if (like me) you like fast action, scalping and day trading, or if you like entering a trade and managing it for weeks.

With practice and fun you’ll slowly but surely define what’s working for you. Then you can start fine tuning a system of your own, maybe with the help of a mentor or someone knowledgeable.

I think the best things for you to do is to test many of these strategy using a demo and see which one of them best fits you. Start now, cus you have a lot coming.

Its not possible to test all the strategies there is. DO you know how many strategies out there. As a new trader, I am sure it would be very difficult to build your own strategies. I am sure you will need help from expert and also a good knowledge of how these strategies work.

Crawl. . .Walk . . Run. . .Run Long Distance

  1. Learn to crawl first Take What kind of trader are you. Next join , Pip school where you wil start to learn Next you should be ready to open a demo account by the time you finish grades school. While you’re finishing pip school practice in your demo account so when you’re ready to start trading real money you will know how your platform works and have a general idea of how YOU should trade.
  2. Walk next. Finish Pip School, watch video’s on utube, read articles, watch forex news. practice differnect types of trading, scalping, day, swing and position. (I didn’t do position). Narrow down info so that what you are learning compliments the type trader you are. Set your goals, make your trading plan using smart money management
  3. Run. Open your real money account, trade with the information you have learned since you start crawling. Keep learning webinars, video’s news etc. Streamline and make any adjustments you need to
  4. Run Long Distance. Start working your trade plan with increase the number of currencies you trade with

By the time you reach #4, you will have the right method, mind set and money management skills to avoid the new traders grave yard. Good Luck

(Tip) Don’t use the strategy of “if you throw enough **** against the wall something has to stick” or the OMG strategy
(Oh my God…please please let my trade work in my favor)
Good Luck
Gp

Love the tips :slight_smile:

TBH, you won’t know until you try everything.

I think the best way to find this out is trading (with a small account) and observing your emotions.
Do you want to make money right now? Do you sleep better, if you are flat overnight? Can you relax not watching two days in a row an open trade? Will this trade be far in the plus, as you had no opportunity to close it?

Everyone has to make this experience for himself, as everyone is different. Experience will show you, what’s best for you.