Traders, at some point in their lives, have tried searching far and wide for the fabled “Holy Grail” of the forex market. Unfortunately, none have succeeded. Maybe it’s time we put our heads together and find it as one! Join the Babypips.com’s search for the BEST FOREX TRADING SYSTEM OF THE MONTH and see if traders think it’s the bomb-diggity-bomb!
The FX-men are calling upon awesome traders to come forth and showcase their trading systems through this amazing competition. Just like my Trade of the Week contest, participants are to submit their trading systems per month for the BabyPips.com community to vote on. Winners will be determined by the amount of votes their entries generate.
Why should I join? What’s in it for me?
Besides being able to apply everything that you’ve learned from the School of Pipsology, you will also get the chance to be featured in my blog that is seen and followed by thousands of readers. You will become as famous as Justin Beiber. Okay, that’s a little exaggerated, but you get the picture.
More importantly, you will have the chance of ending the suffering of those who have been in desperate search of a trading system that they could also call their own. Of course, you’ll also get a lot of eyeballs to critique your system and further optimize it to get those pips easier!
What should be in my system?
To convince us all that your system is off the heezy fo’ sheezy, you’ll need to give us a clear description of how it works by providing us with the following information:
1. Philosophy behind the system. This is probably one of, if the not most, important part. When you submit your system, tell us why the system works, what you love about it, and why you think others will love it, too! Take this opportunity to really market your system.
2. Indicators and parameters. Give us a complete listing of all of the necessary indicators and their respective parameters. Oh, and if you’re using a custom indicator, please be kind enough to upload it for others to test out!
3. Entry and exit signals. Mechanical systems are all about signals, so you need to tell us what qualifies as a valid signal to buy, to sell, and to exit a trade.
4. Stop loss and profit target placement. No system is complete without risk management, so we also need to know where we should place our stops and profit targets.
5. Sample chart with signals. They say a picture is worth a thousand words, so let’s get those charts up, fellas! Just make sure that your charts show your system in action, (i.e. valid entries and exits).
6. Backtest results, if available. Of course, you’ll have an easier time convincing us that your system is supah fly if you have the stats to back it up. If you have backtesting results, don’t be afraid to share ‘em with us!
Where can I submit my trading system?
You can submit your systems in the “Free Forex Trading Systems” forum. Just make a new thread, and put the name of your system in the title. You can name your system anything you want BUT they must adhere to the rules and regulations of the forums.
This means no ridiculous names like ”WWW.GO-TO-MY-SITE-FREE-SIGNALS.COM Awesome Trading +1500 pips per day System.” If you’re going to include outbound links, you also must have more than 5 posts. Otherwise, our mods may mistake you for a spammer!
After you have posted your system, post the link of your system in the thread that I will create for the month. This is so that other readers can run through the complete listing of the month’s submitted systems.
For example, if I created a system called “Ninja Pips,” I will first make a thread entitled “Ninja Pips” in “Free Forex Trading Systems.” Once that’s done, I’ll post the link to my system in the “Mechanical System of the Month: June” thread.
Do note that only systems that have been posted in the “Free Forex Trading Systems” will be considered as valid entries. Links to other forums not be accepted!
To recap, here are the steps to submitting your entries:
1. Go to the Free Forex Trading Systems forum.
2. Post your system as a new thread. Make sure you label it properly. (Or else our mods will hunt you down.)
3. Copy the link of your system to the thread that contains all the submissions for that particular month.
When can I submit?
You can submit your systems during the first three weeks of the month. The long submission period is to allow those who want to participate to formulate their systems, tweak them, and make a nice post!
Just take note that you can only submit a system if it hasn’t been chosen as a winner in the past. We already know your system is awesome, so give other systems the chance to shine.
Who can vote?
Anyone that has access to the internet can vote! You don’t even need a BabyPips.com account (although it would be nice if you had one)! Just be sure you make your vote count because you only get one!
When can I start voting?
The voting period will be on the last week of every month. I’ll be sure to announce it on my blog when the submission and voting periods begin and end.
Can I post other people’s trading systems?
We here at BabyPips.com take plagiarism very seriously, so if you’re going to submit a system that you did not come up with yourself, you better make sure that you cite your sources. This also includes systems that you altered and tweaked a bit. Please credit the original author of the system!
And of course, don’t be afraid to browse the forums! There are several pip-generators out there that you can draw inspiration from. Petefader’s Mad Scalper system and james’ 45 pips per day system are two of the popular ones in our forums.
The first contest will start in June. You can submit for the first three weeks. Voting will take place during the last week of the month.
I repeat, the first contest will start in June. You can submit for the first three weeks. Voting will take place during the last week of the month.
GOOD LUCK ROBOTS… ERRR, TRADERS!
Last edited by ForexNinja; 06-07-2011 at 04:15 AM.
To make the forex trading system best, there are three main aspects to keep in mind always : the time frames use, trend indicators and confirmation, and money management rules. You can also buy stocks and bonds or you can try something different.