Newbie: Develop my own system or use existing free system?

Dear All

I am a Forex newbie and going thro’ the classes at babypips. I have just started to learn to understand the various technical parameters, charts etc.

I intend to start live trading from Jan '08 until then to hone my skills.

I was wondering if it is worth to develop my own system or use any of the existing systems which people claim it works and makes 500 pips in a month or so. What is your advise on this??

Also, I would like to have a Forex Mentor who can spend a little time (maybe 2 hrs in a week or so at his/her leisure time) on yahoo/gmail email/chat to guide me thro’ the initial learning process. I would greatly appreciate if anyone who has good deal of experience and making consistent profit to guide me. I will be thankful for you for ever.


What I did was to study all of the indicators that I was intested in and try a few systems (all free) and then make up my own system. If you want a mentor then tell us what area you are in and what times you plan on being online. Maybe offer a email address, but make it one that you don’t mind closing after a few months.

After about a year of struggling in the market I have come to the conclusion that it is best to try to develop your own method of trading. When you use someone else’s system it is unlikely you will get the same results as they do. They probably have way more experience than you. Also, you do not see the system the same way they do! However, if you make your own methodology of trading then you will see things as you see them. Thus improving your chances of success. I recommend playing with a lot of indicators and seeing which one fits your fancy. However, only play with a few at a time. Once you figure out which ones you like then try to develop your plan of attack using those indicators. I think this is the best way to go about making a plan. This way you become more invested. It is so easy to go from one system to another looking for what fits your trading style. Instead of going through that ordeal make your own that you are personally invested in and that will improve your chances of success. Perhaps go around looking at systems seeing how people use indicators to work wish each other.

Thanks Bazooko and Swordofrue. Appreciate your replies.


I live in Singapore (GMT + 08:00). I check my emails every hour. I am online for almost 16 hrs a day, but preferably (to have a relaxed chat) between 8-11 PM Singapore time. I can be reached at rsaxena1965 at yahoo dot com or iamsekar at gmail dot com . If someone can reply to my email, THAT WOULD BE GREAT.


When I actually registered at this forum and went to the free trading sytem room, and started to read/follow some methods there, my head started to spin. I was also wondering if I am taking the right approach and hence thought of posting here for help.

As of now, my knowledge on Forex is little bit of academic rather than practical, I would like someone who can help me get started. BTW, I have been a good student in the past :slight_smile:

Does any newbie out here have a mentor from BabyPips :slight_smile: