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Thread: The Importance of Creating a Trading System!

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    Registered user techboy's Avatar
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    The Importance of Creating a Trading System!

    Hi fellow traders, today I just want to give emphasis on how important a trading system is for us to succeed in trading, I notice also that some strategies presented here are just based on a particular indicator, for me nothing is wrong in using a particular indicator but it is not enough, indicators are lagging in nature and its reacting based on past data so more often we have false signals. What we really mean when we say a trading system? my simple understanding about it, is an strategy used by an individual trader that uses set of indicators or patterns to timed his entry to the market but with defined risk level, defined stop loss and target profit, defined time to enter, defined time to exit,in short it must be a complete trading strategy. A trader must not trade just because an indicator tell him to enter a trade, we must consider first a lot of factors before clicking the buy or sell button, for example what time of day the signal occur, is it in the Asian or US sessions? obviously a signal in the Asian session may yield different result if it occur in the US session, or are there fundamental news scheduled for release in the next hour or less?In conclusion traders must develop the skill of filtering his trading signal by applying set of parameters before considering to click that sell/buy button for him to have a high probability of winning. Any ideas to add on these topic will be highly appreciated.

    "What we sow today is what we reap tomorrow"

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  2. #1001
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    Forex market is full of risk and with fear for those trader who do not have a good learning and a good trading system that will be useful for trade we must make it sure we are trading with such ideas for getting success , with learning properly and with good efforts we are able to make own trading plan and will applied according to own way so make easy for us to get results .

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  3. #1002
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    when you create your own strategy it means that you can observe the market carefully and have few years experience which can help you to used such type of indicators and tools from which you are very familiar it is the best thing that now you can learn from your mistakes and improve yourself by keep in your mind that avoid greed because there is no shortcut way to earn money.

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  4. #1003
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    Quote Originally Posted by melan View Post
    Forex market is full of risk and with fear for those trader who do not have a good learning and a good trading system that will be useful for trade we must make it sure we are trading with such ideas for getting success , with learning properly and with good efforts we are able to make own trading plan and will applied according to own way so make easy for us to get results .
    such bad emotions only comes to traders still does not have any good trading system with them. not all of us has such fear in trading because since we are improving every day and always learning from our past mistakes i am sure we can get over with such bad habit of emotions inside us. we can easily defined as good traders once we have a strong trading system with us.

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  5. #1004
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    no doubt that you are mentioned a good thread about the importance of own trading system, when you can work on your creativity and skilled than you can improve yourself by find out your mistakes and avoid it in next trades it is a business that find smart trader than gambler so try to work on quality of trades with a good trading system which you make after practice not depend on others strategies.

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  6. #1005
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    to match with the personal profiles as having with the basics on customs with the ideal preference on leaving of options to work with the selection of preset on initial variable to work with the rules of strategy by the chance on running of the trading works of the good schemes.

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  7. #1006
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    We create a trading system to make money, it will be confusing to trade in forex trading when we don't have a trading system that we are making use of, But when we have one, when we have a good working trading system that is profitable, it will be all simple for us. There is also no easy way to profitable trading. Creating a trading system takes time, more like a slow and steady movement.

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  8. #1007
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    Quote Originally Posted by elenor View Post
    no doubt that you are mentioned a good thread about the importance of own trading system, when you can work on your creativity and skilled than you can improve yourself by find out your mistakes and avoid it in next trades it is a business that find smart trader than gambler so try to work on quality of trades with a good trading system which you make after practice not depend on others strategies.
    Yes, the forex trading is the business that is good for its traders, and not the gamblers. What will make traders a real trader is the way they are doing their job. The traders with low skills or that are making mistakes with what they know will never get what they need in the market. We all have to build a qualified trading system that will help us to earn securely.

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  9. #1008
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    We must make proper provisions to see we build our very own trading system which will give us the opportunity to manage risk and give us a better chance to see we make a good and perfect entry. Forex is a good business and what is important in this trade is for us to ensure we have what it takes to win in this very business. Creating a system will help us manage our trade and will help see we make good trading which will give us more opportunity to enjoy forex.

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  10. #1009
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    Quote Originally Posted by Tonycee View Post
    We must make proper provisions to see we build our very own trading system which will give us the opportunity to manage risk and give us a better chance to see we make a good and perfect entry. Forex is a good business and what is important in this trade is for us to ensure we have what it takes to win in this very business. Creating a system will help us manage our trade and will help see we make good trading which will give us more opportunity to enjoy forex.
    If we have our own trading system or indicators then we can understand better this business. Normally I mostly like to trade with support and resistance levels. When I work with these levels then I earn good profit from this business because this is my own strategy and I have good experience in this strategy. If I use any other strategy then definitely I face losses in my trading account.

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  11. #1010
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    Though having our own trading strategy does not says we will be able to keep on making money from the market none stop without having some losses, but I learned that it helps us be successful on the long term, we gain much better experience if we get to have our own trading strategy, there is no simple or easy way towards being successful. having our own trading strategy is the key to successful trading.

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