Hi Guys,
I am trying to learn trading - and as suggested by many, trying to learn what is the best technique that suits me.
I just want to understand how sophisticated does a trading system have to be ? How sophisticated is your trading system ?
Do you just use a few technical indicators? Or do you use some advanced technique named after some expert or some pattern or something like that ?
Thank you
Keep it as simple as possible.
Many favour Pure Price Action, I personally like the 3 Ducks System which is very simple
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You don´t need a sophisticated system to make money. Keep it very simple. Entry techniques are not the most important aspect of a trading system. Newbies mainly focus on searching a confluence of indicators that lead to a hig win/loss ratio, but they are missing the most important picture which is managing the trades once you are in. You can choose any entry method that you want, there are thousands that work, but if you dont know when to exit then you won´t make money on the long term.
I always tell these advice to new traders: Focus on this 5 principles and try to translate them into your trading:
Is easier to say than do it, but I promise you there will be a eureka moment when everything in your brain will be so clear, that you will start to make consistent pips on the long term. In my own experience, I would say that if you dedicate to study forex, watch videos, read books, post threads here, it will take you 2-3 years to find this eureka moment. Some traders take less time and some traders more, and some never make it.
Thank you guys for the replies 
My techniques aren’t overly complicated (mainly based on candlestick patterns and shifts in volatility). After awhile, you’ll find your favourite indicators and create techniques based on them (mine are RSI, ATR and ADX).
It is important to keep it simple because once the stress and doubts will kick in any hesitation can kill you.
[QUOTE=“VladWulf;743060”]It is important to keep it simple because once the stress and doubts will kick in any hesitation can kill you.[/QUOTE]
Yeah, if it does get too sophisticated & complex then you’ll be waiting on too many things to occur & line-up so you’ll find excuses for not taking perfectly good set-ups & you’re trading is crippled by analysis paralysis.
You can do “Naked Trading” - no indicators at all, just support/resistance levels and chart patterns - and it works. Using many indicators might clog up your judgment.
My strategy isn’t sophisticated at all - I use a combination of candlestick patterns and the Moving Average indicator to ascertain when to trade. I am not fond of sophisticated approaches - in the end I find them more confusing then helpful.
I think its very important to constantly track, re-evaluate and modify stop loss strategy based on current market conditions
There are probably so many strategies and techniques as there are traders, so no matter what people will tell you about their strategy is not going to work for you (which means you should develop one for your self).
Change the question to ‘how sophisticated is your money management technique’ and you are on the right path 
Simpler is better and its very much possible to trade on a simple plain chart then a chart loaded with too many indicators.
I agree - filling your chart with indicator only end up confusing you.
I have a feeling (from your sense of usage) that by sophisticated you meant mature, professional,polished technique. I am not there yet but I am not too far away. I run a thread here. Its my journal. I invite people to review my trades. I believe it is mature though little polishing may be required.301 Moved Permanently
It’s been my experience that simple is best. The replies I’ve just read just a few minutes ago could have saved me so much time. I use zero indicators. I use a stop and a take profit. I agree with 95% of the above replies. I do use an atr before pulling a trigger as I’m into market movement. Money management and trade management is absolutely PRICELESS. Read books and when you get bored; read more books. Hope this helps. 3 ducks is simple and very good by the way.
Well I tend to put everything simple in my trading strategy with plain calculations (only for money management) and basing my analysis on fundamental data. I also use Hotforex trading analysis reports but they’re focused on technical interpretation so I don’t take them as a basis just to get additional confirmation on risky trades.
So do you really on your own analysis or can resort to other sources?
my personal techniques? hmm i never really thought about it, its based on a couple of basic things like support and resistance, trends, and some major news, and a couple of trades a month, nothing really crazy, i do check other peoples trades especially xauusd.
Sophisticated? Okay! Actually the sophistication lies in your discipline and the following your stops and targets which allow you to make good profits at reasonable time. Doesn’t make you greedy and keeps you on your toes and pushes you to become a great trader!
I am also like wih this way, simple than complicated, using so many indicator will not help much and only makig confusion in trading, forex can treat as simple trades if we want to making it being simpler.