consisten systems.

[traitor]

Hello all, I'm am in the market for a consistent performer. Are most systems geared towards more profit than loss? I understand there is inherent risk in any given system, but are there systems that prove a (reasonably) consistent growth in your account? I don't really have time to back test every idea in order to ascertain its winning vs. loss %.

I guess I don't have a question but can we discuss this for a moment, in reference to all the systems out there/here.

[toptick07]

Traitor: First off, welcome aboard!

Are most systems geared towards more profit than loss?

Um… Yeah, in general we’re looking for more overall profits than losses. (sorry – couldn’t resist.)

Relative to your question on systems available “out there/in here”, there are hundreds of vendors offering “automated” trading systems and “purely mechanical” systems. I’m sure you’ve run across more than a few. Many of them show consistent account growth with acceptable drawdown over X historical period. The trick is that these are often just back tested theoretical results, not actual trade results. I believe there are more than a few traders on this site that could create a system that would back test equally well and “show consistent returns.” IMHO, the problem with any of these, of course, is implementing the system going forward. (Can you system guys add to this? Elang, james, pipbull, pipgod… Anyone?)

Which system works best? IMO, often the answer is in the operator’s skill and understanding in applying the system. No matter what approach you choose, you have to put in the time to learn the “system” as well as learn a few things about the market. For example: As a trader, should you take a valid signal generated by your system immediately before a major news release, or is it more prudent to ignore it and wait for the next signal? What are the considerations in your decision to ignore the signal or to execute the trade? (Does anyone else care to share an experience with this?)

I don’t know what your life experience is or what prompted you to consider trading the forex. The Babypips school and forum is a great place to start. The school won’t answer all your questions, but it will help guide your thinking. The forums can be confusing when you start out, but stick around – some of these guys seem to be doing well. Bottom line: No one can hand you a system, give you a set of rules, and guarantee you a consistent return. Take some time to explore and add to your understanding of the market before you begin trading. The market will be here tomorrow. Best of luck in your trading…

[james]

Hi There and welcome again
This is very ture what toptick has said the key is to pick one system and learn it well stick with it and stick to the rules of that system.

also dont expect to earn thousands all at once it takes time and stick to your money managment rules like glue.

[traitor]

Well here is my situation. I'm familiar enough with forex to understand most of these systems. I haven't gone live yet, but when I do I'd like to go in with a system that, at least in theory, is going to serve me well. A system I can learn inside and out in preparation for the real thing.

I believe that some systems work better than others even if the operator is a robot. I really like the systems James has posted. They're simple and should provide good results. Non-the-less there ARE going to be losses...

But I guess everyone is looking for a system that provides a 70% or greater success rate, huh? I guess I want a system that will guarantee success on its own leaving me as the only liability. I'm just looking for security of my strategy.

[toptick07]

I guess I want a system that will guarantee success on its own leaving me as the only liability. I'm just looking for security of my strategy.

It's natural to be uncertain and to want some "guarantee" of success. As you know, that isn't the way things go in trading. James has posted a couple good ideas on systems. Those are a good place to start. (I think james himself cautioned traders not to implement the systems until they demo them for a reasonable period. Good advice.)

IMO, Your system of entry and even your timing is not as important as tight risk management (also known as money management).