Hi everyone I have been looking for a real system that works, does anyone know of such of a thing. I am not looking for an EA but a real method that works.
Best you do what the rest of us have done and develop your own. No short cuts here my friend.
I’ve found all systems require work and knowledge.There is no,“Sure Thing” or,“Fire-and Forget” system as far as I can see.Don’t pay for anything.
There are a lot of free Strategies on this site,
http://www.forex-strategies-online.com/
but try them out on free Demo accounts.Every one I have tried as sometimes added to my knowledge even if I didn’t like the Strategy or was no good with it.
If you are in forex for the long-haul then you could become good.If you want a get-rich-quick system then over 90% of people wanting this fail AFAICS.
I agree with the other replies. I got a Forex Tester and I have been able to fully test strategies no matter what they are.
Its my personal experience that price action strategy on daily time frame with no indicators works. I kept on losing for like 18 months and when I seriously practiced this strategy I got positive results and then I dropped all other fancy indicator based system and started only on D1 chart. This method really requires a lot of patience. I once remember that I didn’t get any setup for 11 days but I kept calm and remained strict to my system. Overall its giving me great results.
Those methods which truly work (I mean arbitraging or latency trading) in most cases are easily smoked out by brokers. You’re risking to get your account banned and profits confiscated (in shady broker it means that initial deposit is swiped out too :D)
If you are still looking for shortcuts in FX, the only suggestion there is to tie up your capital in managed account (PAMM). Thus you can avoid rough going associated with personal trading but yet make good bucks with hands down.
As my first exposure to online trading I have a couple of hundreds bucks invested in some HF PAMM accounts (check this stuff there http://bit.ly/1DE6LYR) on a put-n-hold strategy (means I don’t check and reallocate funds for 6 month).
But still, before putting your money somewhere think twice and I would advice you to understand basics of money management and broker reputations as it is two core factors that greatly raise your chances to avoid quick blowup.
I know a really good system which works long term. You spend a couple of months at pipschool here, open a demo account and practice some of the many strategies in this forum until you find one that suits you or that you can tweak.
Without the knowledge gained at pipschool you won’t understand half the reasoning behind thr strategies on here so will not know if/why things go wrong
Love it… LOL!
Many people will have “systems” which is said to work. Most people now and days identify a system as"working" based on the life of the account (1+ year without margin call), when the reality is not margin calling account doesn’t mean your system is any good. Although we have many different “systems” which can be used to gain profit, almost no system is based on accuracy. Accuracy upon entry allows you to exerciser trade/money management correctly. I would suggest looking at “trade explorers” or myfxbook portfolios which have a very low pip-drawdown. The lower the pip-drawdown then that results in a very accurate setup.