Would I not be better off trying to trade using a system I found online? Of course in due time I would like to develop my own system. It’s just that it’s something i’d rather do with more experience under my belt. I feel like trying to develop my own system is too challenging for a rookie such as myself. Give me time though and i’m sure I can think of something.
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Being a successful trader has a lot more to do with learning about market behavior than it does a mechanical set of rules. And ultimately the knowledge that will set you up for success wont come from books or articles, but through hundreds and thousands of hours studying charts and price behavior. But as a new trader, a good way to get kickstarted is to find quality information to help start your journey.
Assuming you have already gone through babypips free Forex school(if not do this first!), I would encourage you to study “price action”, “price patterns”, “candlestick patterns”, and “technical analysis”. Every successful trader takes their own journey. Start by looking for quality articles and videos on those above mentioned topics and likewise begin studying price charts and applying what you are learning. Once you are ready to start trading and practicing your newfound knowledge, I strongly urge you to do so in a demo account. When you have solid profits for at least 12 months then you may be ready to go live, and will have knowledge, experience, and confidence to back it up.
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This. 
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Thank you for your response! I love being able to ask whatever wierd question I have, and ALWAYS getting it answered! I feel like I can shorten my learning curve tremendously with the help you guys give It’s in my opinion, the second best thing to having a mentor.
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It depends on the individual…
If a successful system on average takes years to develop…
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Do you choose to go through that same process? Even if it means no profits for years?
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Do you look for a profitable one that is for sale where the person is willing to share it with you?
There are those who like the feeling of having gone through the process to create something from scratch. Especially if they will want to sell the system. But since there really arent any rewards or badges for going through a long process, others may choose to simply buy a system as long it is clearly profitable and easy to use and fits their personality etc…
It all boils down to wehteher you want to be a car manufacturer or just want to buy car and go about your business…without the stress or responsibility of building it.
Duane
DRFXTRADING
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As a beginner, you won’t be able to develop a new SUCCESSFUL system that nobody has ever thought of and tried before. So don’t try to do that. Just take the simplest strategy you can find from a book, website, Youtube clip, forum or whatever source, and run it in demo until you understand it, then run it with tiny positions until you learn how the market works. By the time you have done this you will understand the strategy inside out and also see how it can be developed for your individual requirements. Of course, re-test the modified strategy, then trade it.
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As a beginner, my suggestion is you can follow a master forex trader that has proven his real account was generate profit.
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You don’t have to develop a system of your own from scratch - it takes years of knowledge and experience to do so. The best thing you can do is find such a system and stick to it.
Here, you have to follow your own path. No doubt, Forex is challenging & here knowledge is the key! So, as a newbie you have to spend here long-long sessions to develop your trading skill.
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YES. Create on and stick to it. Trust , it will make things much easier.
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Actually yes. Ready made strategy doesn’t help at to develop your trading skills. As you newbie you have to learn how price works, how an indicator works, why and when an indicator gives any buy or sell signals. When you are newbie, you are like an intern. You work to learn the skills not for money.
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I was going to post on this topic with long ass list but @krugman25, @DRFXTRADING, and @tommor have given you some sound advice. All I would add is that don’t worry about trying to get a system under your belt super quick, for instance I’ve been working on a system for 8 months and only in the last 5-6 months it’s become profitable not very large gains only 3-4% month. One thing that I have to always keep reminding myself is that we’re in this for the long run 10 years + and don’t worry about missing trade set ups there will always be more aha. I’m guilty of this aha as I trade trends mainly and only really on daily charts I often used to make the mistake of the trends started better at on it and not really picking my entry properly and rushing. Just take it chilled man aha.
Also another bit of advice for the future which i think is useful to know is learn two markets. Like for instance I’m now learning how to trade bonds, but obviously still learning/ working forex( have much to learn still), but it’s another market that you can work on so not all your eggs are in the forex basket
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Don’t short change yourself friend. If you kept this up MoM, you would be tripling-quadrupling the long term average gain of the SP500. Any trader that can hit those numbers on a regular basis is on their way to owning a private island, no doubt. Good on you BTW.
The trouble with other peoples systems is that you need your own edge, and this is something that other people won’t tell you - and even if they did, it’s such an individual thing that it might not suit you and your own individual psychology. Apart from your own edge, all you have in any trading system is the generic advice that we can all spout off without being profitable e.g use a stop-loss, don’t risk more than you can afford, wait for confirmation etc etc…
I don’t trust anyone elses system. For all we know these “master trader/guru accounts” are demo accounts or the only profitable account they have out of 10 different ones! Ask yourself why someone would give away their profitable trading secrets in a zero sum game… The answer is usually so they can make money or gain cudos cos they’re not doing great just trading.
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This question has made me realise just how new I still am to trading after 1.5 years. And I think it’s a very difficult one to answer.
I would lean towards copying a proven system BUT you can’t do either unless you understand price action, why and how the market moves, and the context of the current situation. If you don’t understand any of those things then you will struggle even if you have the ‘best’ strategy in the world.
Unfortunately, all of those prerequisites take a hell of a lot of time to develop (and never stop developing) which is people (me in particular 
) system hop - they don’t understand why they are losing when the strategy should work.
What is working for me at the moment is that I have found a Youtube trader that I find both entertaining and likeable and I’ve taken 2 of his 8 setups that I am practicing and practicing and practicing and practicing…and I’m finding that I’m making tiny little tweaks to those 2 setups to better suit me. Once I’m fully happy and confident with those two then I’ll look to backtest and practice a third before deciding yay or nay and moving on to the next one.
Basically, what is working for me is making my own Frankenstein system from pieces of other proven systems. It’s super slow going but that’s what’s reassuring me that it’s the right thing to do 
-you try systems out ,to locate who you really are, what you believe and whats your worst fear.
-only after thousands of fails ,you will develop your own system.
-after ten of thousands fails,your’ll realize its all a lie,that’s how you getting close to it.
-giving up and picking up for countless time ,there you have the answer,■■■■ …its that simple
Wow.
If that has been your own experience, I’m sure it must have been soooo painful.
Have you posted on babypips about your trading history? There might be very many members, especially new traders, who could benefit.
Process of stock trading for beginners
- Open a Demat account.
- Understand stock quotes.
- Bids and asks.
- Fundamental and technical knowledge of the stock.
- Learn to stop the loss.
- Ask an expert.
- Start with safer stocks.
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A very good piece of advice
Personally I think most strategies can stop working or really work depending on the market so you just end up making the strategy that makes sense to you and is beneficial to you and your trading style. Backtest your strategy if you feel your strategy is losing an edge.
Simply because every trader has a different trading style and risk tolerance, shouldn’t their trading systems be too? Idk just my 2 cents.