free trading systems question

[Rosemary]

I hope I am posting this on the right board. Does anyone know if any of the free trading systems posted on this site work well for those who can only trade the ny and asian sessions? Thanks so much in advance.

[potOgold]

The best way to tell is to demo trade it and see how it goes. I've been demo trading a lot of different systems talked about here and changing them a bit here and there to experiment.

[Rosemary]

thank you, I appreciate it

[outspan]

Originally Posted by Rosemary

I hope I am posting this on the right board. Does anyone know if any of the free trading systems posted on this site work well for those who can only trade the ny and asian sessions? Thanks so much in advance.

You really need to test a system thoroughly and see for yourself. You'll find that the hardest thing of all is to always stand by the rules of your system even when your judgement says it'll bring to a bad decision.

If you don't respect the rules of a system, one doubt will soon bring to another, and you might end up trading a completely different system which hasn't been properly tested, which is potentially very dangerous.

In my experience the best way to avoid this is to test the strategy in demo account until you're truly convinced that it works for you. Make sure you use a sensible risk/reward ratio and if you incur in a losing streak, don't just try to "get back" to the market, take a day off instead and try again the next day :-P

Also remember that if you earn 10% and lose 10% alternatively, you'll lose in the long term (even starting with a winning trade). This is why your risk/reward has to be < 1. Or at least -- if you're mathematically inclined -- that your best guess of the expected value (prob. of winning * possible win - prob. of losing * possible loss) is > 0 .

[gasanvill]

I trade only the assian session too, so i´m back testing some of the systems, to see if the work with pairs like USD/JPY, EUR/JPY. I try different timerames and play with the settings of the indicators, to see where can i get better results..

[NewFX]

Personal experience is always the best parameter to decide what works for you.

I've used a lot of free systems while trading stocks, but the fact remains, they can do only so much for you.

[Rosemary]

thanks for all your responses