"Trading on the market shows that the most good results are achieved by combining the various trading systems. But finding a good system is not so easy.
Maybe we can share here some experience and results of using different trading systems?"
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Maybe you need to use the search button.
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As far as I understand it is almost impossible to trade in the forex market and not to lose but if you use scalping with a short stop or arbitrage, then the risk can be reduced to almost 0.
Theyâre in the section called âFree Forex Trading Systemsâ.
This is very, very wrong. Itâs true that it isnât easy at all to trade in the forex market and not lose, but trying to scalp is a way of making winning less likely, not more likely.
Well, if you take my thoughts into consideration, it is true that some of the best results are obtained by combining different trading systems, but it should be noted that they donât live for the long run and generate profit on a routine basis. hence it is better to try oneâs own rather than building upon otherâs experiences or trading results.
Itâs great that you are searching for a strategy instead of a prediction method.
I recommend forward-testing several strategies.
Al Brooks is one of my favourite authors. Check out the chapter titled âBest Setupsâ. I actually use his books and I use his swing trading strategy on forex markets.
The main thing is that trading takes several months or years to get proficient, depending on how much time you have. Keep learning!
There are lots and lots of strategies in Forex Trading and we need to choose a correct one in Forex Trading. Also we need to change our strategies from time to time, if we wanna survive in Forex Trading.
What does this mean, âwe need to change our strategies from time to timeâ?
Why, and to what and from what, and when?
Think he/she means undies bro
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Iâve seen this comment crop up a lot in this forum, admittedly from people who âappearâ to be new at this game [going by what they are asking].
Perhaps Iâm missing the point here, but constantly changing a trading system in its entirety is a fruitless endeavor. All youâre doing is accepting failure and continuing to stall in the learning process. Rather, would it not make more logical sense to figure out why you want to change your system, or perhaps why it is no longer profitable. These are the lessons that move you from newbie to experienced, these are also the lessons that no one can teach you as they form self-development?
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Absolutely right RISKonFX.
Lot of people with poor skills and badly designed systems are fond of saying, âOh well, my systemâs good but the market has changed so it no longer worksâ. But none of them can explain how the market changed or what;s the evidence for that or what it might change to next. Theyâre either new traders deluding themselves or theyâre old traders who should know better than to try to delude other people.
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I am not saying that you need to change the strategies constantly, but you need to see that if one strategy is not earning you enough profits, you need to change it and if you donât you will be just losing a lot in Forex.
Itâs not about finding, itâs about working out successful trading strategy, itâs not the EASIEST thing to do, but if we are dedicated and if we are really serious then it can be done. For me, itâs the only way to reach our ultimate destiny of success; I always practice hard to get to that. I have been doing well in recent times but I like to do even better, itâs not easy but still something that is fairly doable thing.
Some strategies based on indicators should be changed or re-optimized.
The two things often overlap because itâs possible to earn a lot from studying other systems and understanding why they have an edge.
The only strategy that works, in Forex Trading, is changing strategy from time to time, we need to understand that if you wanna become successful, you need to have lots and lots of practice and select the strategy which is beneficial for us.
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I think trying to combine a bunch of losing trading systems to come up with a winning system makes no sense.
If you want a winning system, here it is:
- Identify a trend
- Trade the trend
- Let a winning trade run and become more profitable set a trailing stop
- Cut losers short as early as possible
There you go, a winning system. Now thereâs more than a few details left out but I think people make this whole âtrading systemâ far more complicated than it needs to be with a bazillion fancy indicators and trading on ridiculously short time frames.
Stop thinking about what youâre doing as âtradingâ and instead start looking at it more like âinvestingâ
I think that will help you pick your head up and consider longer time frames and longer holding times for your positions which gives them time to mature and become actually profitable.
My .02
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I have worked as a floor trader on some exchanges, and all i can say is that I have seen millionare scalpers, and millionaire long term traders. Some take the tiny pips on offer daily over and over, and some take a 5 year view on the market. Depends on your personality. Choosde the system that matches your personality. Best of luck!
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Thank you, Jeffrey! Iâll look through
When I first started trading, I was always looking for the answer to, why do most people fail in trading. Well, one conclusion that people can come to, is, it must be someoneâs system of trading that makes them fail. I think that one of the biggest keys is to learn that it probably is not the system that makes traders fail. Here is the natural tendency of most traders. When they start to lose, they let the trade run, hoping that it will come back. They are afraid of losing, and they want to try to find a system that will never loses. This fear of losing causes them to hold losing trades hoping that the trade will come back. When they get into a trade that works, they cut the trade off early in profit. They are afraid of ending up losing the trade, so they donât hold onto it. These actions in trading result in people ending up with a very bad risk to reward ratio. In other words, their losses are much bigger than their wins. Now, go do some math. If someone has a 1 to 0.001 risk to reward ratio, what percentage of trades do they need to win to make a profit. Answer: they need to win almost every trade they ever will take. This proves impossible, and they fail trading. Fact: no matter what strategy you use trading, you will lose trades. Answer: plan for losses. Your biggest goal in trading is to get to the point where you can make more on your wins on average than you lose on your losses. If you see yourself getting to that stage, you will have a lot easier time making money. After that, successful traders simply find a strategy that has an edge. What does it mean to have an edge? Having an edge means that you believe that your system will win more than 50 percent of your trades over time. Successful traders usually use a simple trading system. Knowing they will lose and planning for losses allows them to simply exit losing trades, and they are not upset. The key here is to understand that your system will not make you make money. All systems lose trades. Create a trading plan and plan for losses within it. Try simple systems, and seek to get a good risk to reward ratio. Eventually, create your own system, and trade your plan.
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