The basics are where it is at

It hit me tonight while I was screwing around, I have developed a pattern of visiting the same favorite sights, then doing random forex web searches, then researching ideas that come to me during the day. It is all Forex all the time. The one area that I am always drawn back to though on the weekends is this newbie forum. When I post, it is mostly on here, and I find the material always fresh, even though some questions are answered a million times over. I think what I and most are overlooking is the fact that we make this whole process to complicated. We are so intent on finding the perfect combination of sixteen indicators and getting our R2D2 droid to tell us when to trade we forget that this is all human driven. I am no expert, or even highly trained in the field, but in my opinion I think the simpler we keep this the better.I have had the greatest success with the very simplest of strategies. Getting the feel of how the market flows on a daily basis for a few months has made me more accurate than a pantload of indicators. This forum is the best on the internet and I hope I can contribute someday the way others on here do. Long story short. This forum always grounds me when I get brain overload. I think the money is made by the smart money managers not the system creators. If I made any sense at all you can thank the fact I just spilled my last Budweiser on the keyboard.

You hit the the issue right on the nose. I too came to that same realization tonight. I’ve had it before, and I base my trading around trying to keep things painfully simple but I spent the better part of the day and tonight backtesting a new way to take swing entries.

Six hours later, and 100 recorded mock entries, exits, different management techniques profits, risk ratios, everything recorded into an excel spreadsheet I stepped back, and just looked at the markets using the tools and the method I use everyday.

What i’m used to and what I trade with gave me better information, better entries, better exits, and more consistency than what I had been trying to get to work the entire day.

Trade what you know, keep things simple, and stop trying to constantly add to a system! It detracts more than it adds.

So, margarita in hand (keeping in theme), KEEP IT SIMPLE!

Hey “Spilly-Trader”, Sounds like you just graduated to a new level…so get a grip…on your Bud I mean! :wink:

Yup I too have checked out every indicator and combinations thereof I cared to, and likewise find my self coming back to just a couple of “goodies”. Frankly I’m getting just a little tired of re-setting my charts & creating templates for each “system” I want to try and am at the point where I now Want to decide on just one …at least for a little while anyways :rolleyes:

However, I’m starting to think that along with smart money management, one needs smart trading strategy management too where one either adapts ones indicator to the 2 main markets mood (trends & ranges), or has a different one for each. I mean if your only trading strategy has a higher success rate in a trend, then you ought to sit out when it’s not…right? Which is hard to do, and what I’m reading amongst us new traders is that we want to trade anyways …aka a human weakness… and do so against the rules of probability with the same tools/indicators, which then heightens our risk instead of reward! So why fight it and instead have one system of tools/indicators for trends, and another for ranges, which then will keep our money managment on course. :slight_smile:

It is a complicated process to go through right now to find out which indicators will do that for us and I’m thinking the holy grail isn’t just One system, but a system of systems…ok, it’s Friday night, and our hometown the Vancouver Canucks lost so I’m gonna have a couple more after the couple I’ve already had and call it a night. :cool:

Cheers!