The most "consistent" method/system?

[mraugustyn]

Hi guys,

I have been trying systems and techniques on here left and right and I just can't seem to make consistent pips.

I am just looking for a strategy that could make me make 30-40 pips a week but "consistently." That is the key word here. I'm not looking to go for 200, 500, or 1000 pips a day like some claim or aspire to.

Does anyone have any suggestions from their experience what the most consistent method/strategy out there is? I have tried the EMA step, james' systems, etc etc.

Any thoughts? I'm still committed to becoming a successful trader but I'm a bit frustrated currently.

[kockneerebel]

There are no guarantees in trading. many trading systems will give you what you want but you must stay with one system and really learn how it works. As the great Tymen says don't be a system gypsy. A good system does not have to be a compleated one and often the simpler the better. Tymens candle patterns on this thread work well given time to learn and implement
best regards

[trading801]

hi there.. is your money management ok?

Imho, that is the best and most consistent method around..

works for all market conditions too!

if you want additional reading, you can visit my blog for newbies to forex too!

hope you find success !

[mraugustyn]

Thanks for the info guys..... I think that may be what my problem has been. I've been bouncing from one system to the next. Time to get back to fundamentals. I just feel like if I could just make consistent pips with my money management I could be making some killer profits, but I'm sure that's the dream we are all hoping for.

[tymen1]

Originally Posted by trading801

hi there.. is your money management ok?

Imho, that is the best and most consistent method around..

works for all market conditions too!

Yes!!
I will second that!!

In addition, as far as choosing a system, I think it is more important that you choose a system that you like and goes with your personality.

If you do that, then you are more likely to make consistent profits, even if your chosen method is not as good as some others.

There is nothing worse in forex that working with a system that you hate!!

[trader545]

I would also suggest simple method you understand. I agree with those, who say that simple is better!

Main reasons that 95% traders fail are:
- they don’t keep money risk management rules,
- greedy,
- absence of patient while waiting good enter/exit point,
- poor knowledge of analysis,
- absence of trading system.

[Mrgreener]

People seem to think that with forex you can consistently lock in 40-50 pips, its never ever guaranteed.

To be successful in Forex you have to learn, learn, learn learn and even then there are no guarantees for anyone.

Babypips is a fine place to start, a bit like reading the highway code before your driving test. There are many books and info on the subject online.

And also there is much to be learnt from the great traders on here who invest there time in helping newbies and traders alike to be successful.

Ask yourself is Forex for you? can you afford to take the risk? have you the necessary capital in order to take part, are you prepared to lose or win?

Do you really understand what you are getting into? you have to educate yourself so that you can comfortably make the decision to be in the game.

I started trading Live last Thursday, my account is up by 75%, Im glad in a way that I took the plunge when I did, because alot can be said for "on the job training" i.e know your currency market. It hasnt all been a bed of rosies, I suffered a drawdown of 50% of my capital on my 3rd day of trading (during the Sunday opening and also overtrading - bad mistake and lesson learned, it was my fault for getting trigger happy), but I more than recovered from this.

To be good at Forex means you have to be in control and are accountable for your own actions. I owe my thanks to Babypips for my successful start to currency trading and the traders who sell there patter very well on here and the net.

I dont know if Im in the 5% of traders who have succeeded in Forex, I didnt believe it was possible for me, as the odds seem very much against me.

Trade well
from one newbie who has just graduated :-)

[pipso facto]

"I have been trying systems and techniques on here left and right and I just can't seem to make consistent pips."

Perhaps more consistency in you "systems and techniques" might bring more "consistent pips"

[soul786]

Originally Posted by pipso facto

"I have been trying systems and techniques on here left and right and I just can't seem to make consistent pips."

Perhaps more consistency in you "systems and techniques" might bring more "consistent pips"

'Tis a good point. Flipping system to system isn't giving the system a chance to prove its profitability. When testing you have to understand some weeks, some days, some hours will not be winning ones. No system is 100%.

It is possible a system is consistently profitable on a longer term basis, month to month, even quarterly.