The Importance of Creating a Trading System! - Page 351
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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 ! "

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    Registered user cutiekc's Avatar
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    Once you have been able to have a simple strategy for your self, things will become more simple for you, we all need to have a good trading strategy that we will make use of. It will not be simple, but then again, we should be disciplined and precise, a good trading strategy makes us focused, it gets to make us have the best trades taken, depending on how disciplined we get to be with it.

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    Its important for a trader to have his/her trading system to meet set goals because no one is expected to do this but you what pairs and time frame you prefer, what's kind of trader you want to be, your risk capacity, your psychology aswell. So many things are considered in creating a trading system that would accommodate your person at the it all comes down to what work best for you.

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    Registered user sniper007's Avatar
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    Quote Originally Posted by Osas Lugard View Post
    Its important for a trader to have his/her trading system to meet set goals because no one is expected to do this but you what pairs and time frame you prefer, what's kind of trader you want to be, your risk capacity, your psychology aswell. So many things are considered in creating a trading system that would accommodate your person at the it all comes down to what work best for you.
    A trader who dont have a trading strategy it will seem more like they are gambling and not being serious about the market. You know a lot of things needs to be learned. The trading strategy that we have will determine on how successful we get to be. Therefore, the way to create a good effective trading strategy is to make sure we are using the higher time frame as well.

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    If we create own working system and try to work in accordance to that system which is created by using own plans and ideas always give us the advantageous results so we have the enough experience and solid plans to make the strategy very profitable and if we create own system them we will became near to the success easily .

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    We need to have our own person trading strategy and methods so that we can really be sure of our input in the market. We make trades based on good analysis we have made and one important thing is to make sure we have learned them on the demo account. Without the demo account it will be hard to have one. General importance is to have a good trading implementation. Never to take trades without good quality analysis.

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    Trader must have a trading system in any case because it is impossible to earn in forex market if we do not know how to trade and how to earn money here. Only trading system lets us to make a winning plan and earn the profit in forex market. The other thing is what trading system is better, what are advantages and disadvantages of particular trading system.

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  8. #3507
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    creating of a trading system is good and the trader can be able to create the trading system that let him to know how and when he can trade and make money, the trader should be able to make good trading system that keep trading safe with low risk and also can let the trader to read the chart better to know how to set the trades on the positions.

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  9. #3508
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    One of the most important things a trader must do is learning how to create a trading system of their own,once you can develop a good trading style you are definitely on your way to being successful in this market,Forex trading is very simple but technical if we understands how the market works then we can earn very well.

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  10. #3509
    Registered user sniper007's Avatar
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    You should know that having a trading system means and shows that you are serious with the way you want to trade the market, creating a trading strategy will only get to make you be more serious with the market. so therefore when a trader has their own trading strategy which they make use of when trading, it will enable them make the decisions and also know why the loss, what they should do and what they shouldn't.

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    Registered user Goldenstein's Avatar
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    Quote Originally Posted by sniper007 View Post
    You should know that having a trading system means and shows that you are serious with the way you want to trade the market, creating a trading strategy will only get to make you be more serious with the market. so therefore when a trader has their own trading strategy which they make use of when trading, it will enable them make the decisions and also know why the loss, what they should do and what they shouldn't.
    few traders really implement their understanding to their trade by creating their own best trading system that works according to their experience and knowledge. the rest traders who also got their own system, they do not really able to create their working performance as they still lack of things in emotional control, money management, or stop loss placement. soon such things shall be fixed with evaluation.

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