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Thread: Why We have to select our own trading system in forex market?

  1. #1
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    Why We have to select our own trading system in forex market?

    There are many trading strategies in forex market. Even we can see better trading strategies in e books, article, and any other source of forex trading education. Most of time new trader's don't want to use their own mind and they don't want to create their own trading strategy I think a new trader should use their own trading system because they are many advantages of it. They are as follows:

    Attachment 11970

    1. Its free: We will able to make our own trading system for free. Because most of time we see that many people buy differ kinds of strategies from all over the internet sites who sell strategies and robot on a very high price. We can start with demo trading account and can build our own trading strategy

    2. No faulty system: I am sure that after reading my 1st point many people are thinking that they can follow other trader's strategy too but I want to tell you that can provide you wrong result too in trading. There could be man fault in other trader strategy. And you need a long time to improve those faults so it will be better if you will use your own system.

    3. Discipline and Confidence: If you will try to make your own trading system in demo trading account then it will help you to learn about discipline in forex and will help you to build your trading confidence too. By spending a lot of time with your learning you can get these two advantages too in trading

    4. Good mindset: And one day it will come when you will able to better trading with a good mindset. Because you have a good trading system already for your trading and its already well tested by you. So your own trading system will give you good trading mindset too.

    Conclusion: Personally I believe that we should try to use our own trading system and should build a good trading system for our trading. I am not saying that other trader's strategies are not effective at all they are also good but not all the time. Hope you will read my thread carefully and will act upon it.

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  2. #241
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    Well, having our own trading system is really important, it will make us be disciplined therefore making us know how to handle the business, in forex trading we have to know that though the business might be simple, but then we have to understand that to make money from it is not that simple so therefore we have to be careful.

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  3. #242
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    We need to make selection of the strategy that works. We have to follow the market and not just be a trader that follows other traders at all times, but we have to learn to be independent and follow mostly our trading plan and avoid what others are doing. If we have an independent trading strategy we call the shot our selves.

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  4. #243
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    Quote Originally Posted by Striker$ View Post
    We need to make selection of the strategy that works. We have to follow the market and not just be a trader that follows other traders at all times, but we have to learn to be independent and follow mostly our trading plan and avoid what others are doing. If we have an independent trading strategy we call the shot our selves.
    If other traders are more better than you are and they are doing good for themselves, then it will be okay to follow them and learn from them as well. No man knows it all in forex business, we keep on learning and growing with time. Those strategy we are making use of are strategies that we have to really learn from other traders and follow the market the way they have successfully done it. Then we grow from there.

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  5. #244
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    Quote Originally Posted by Khimi234 View Post
    There are many trading strategies in forex market. Even we can see better trading strategies in e books, article, and any other source of forex trading education. Most of time new trader's don't want to use their own mind and they don't want to create their own trading strategy I think a new trader should use their own trading system because they are many advantages of it. They are as follows:

    Attachment 11970

    1. Its free: We will able to make our own trading system for free. Because most of time we see that many people buy differ kinds of strategies from all over the internet sites who sell strategies and robot on a very high price. We can start with demo trading account and can build our own trading strategy

    2. No faulty system: I am sure that after reading my 1st point many people are thinking that they can follow other trader's strategy too but I want to tell you that can provide you wrong result too in trading. There could be man fault in other trader strategy. And you need a long time to improve those faults so it will be better if you will use your own system.

    3. Discipline and Confidence: If you will try to make your own trading system in demo trading account then it will help you to learn about discipline in forex and will help you to build your trading confidence too. By spending a lot of time with your learning you can get these two advantages too in trading

    4. Good mindset: And one day it will come when you will able to better trading with a good mindset. Because you have a good trading system already for your trading and its already well tested by you. So your own trading system will give you good trading mindset too.

    Conclusion: Personally I believe that we should try to use our own trading system and should build a good trading system for our trading. I am not saying that other trader's strategies are not effective at all they are also good but not all the time. Hope you will read my thread carefully and will act upon it.



    we really need to choose what strategy we will use for forex trading.
    This is very important because trading is not just a matter of just clicking buy or sell.
    we need knowledge, we need skills, we need a strategy to deal with the market.
    notes or learning about trading strategies are widely scattered in cyberspace. you just choose one.
    and basically we can have our own trading strategy because all existing strategies are the development of basic forex techniques that are tailored to the trading style of each trader

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