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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 techboy's Avatar
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    Quote Originally Posted by budado View Post
    For me having your own trading system is good. But in term of benefits its the same as using existing trading system. In fact its more advantageous to use existing one than to have our own new trading strategy. As having new means its not yet tested and proven effective. Unlike an existing one that its already proven and tested being effective.
    A valid point also, if you create your own trading system from scratch it may take a little while before it will be perfected, but if you adapt an existing profitable system it will make you profitable right away, but we just have to select a particular strategy that will suit more to our personality or trading style and perhaps do some tweaking on a particular strategy to make it more productive. But of course implementation is also another thing, we may have a very good system but fail to implement in real trading, we still have unproductive trading.

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

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    as the symbolic of goods with the trader competencies as those to leaves with more on further to lifts with the higher on materialities as to shifts with the better on possession as to moves of the higher stages on compounding of more with the difference on relatives with the strategic capital with the good system with the authorization.
    (perfect day of lou reed, theory of goods of pierre bourdeou : international politics and economy , class of 3404 year of 1999)

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    Registered user rinaji's Avatar
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    Quote Originally Posted by techboy View Post
    A valid point also, if you create your own trading system from scratch it may take a little while before it will be perfected, but if you adapt an existing profitable system it will make you profitable right away, but we just have to select a particular strategy that will suit more to our personality or trading style and perhaps do some tweaking on a particular strategy to make it more productive. But of course implementation is also another thing, we may have a very good system but fail to implement in real trading, we still have unproductive trading.
    Implementation is another thing, implementation is not always as easy as learning theory, no matter we build our own trading system or adopt an existing profitable system, the most important thing is that we can understand the system that we use and adapt to our conditions. There are many good exsting trading systems that can be taken and studied by the trader, and then can be applied in real trading. But isn't mean that we can succeed instantly. But it takes time to adapt and understand the strategy that we use even though this strategy was give good results for other traders.

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    If you lose, be patient. If you win, stay humble

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    Registered user techboy's Avatar
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    Quote Originally Posted by rinaji View Post
    Implementation is another thing, implementation is not always as easy as learning theory, no matter we build our own trading system or adopt an existing profitable system, the most important thing is that we can understand the system that we use and adapt to our conditions. There are many good exsting trading systems that can be taken and studied by the trader, and then can be applied in real trading. But isn't mean that we can succeed instantly. But it takes time to adapt and understand the strategy that we use even though this strategy was give good results for other traders.
    I understand your point my friend, first we must build an strategy that is tested overtime, part of having a good strategy is a lot of testing and tweaking, once we are confident of its performance,it is now time to the implementation aspect, of course in order to consistently implement our chosen strategy, it is important that we trust and have a positive expectancy on the particular trading system. We are just talking about the basic here, all other the details will be done by the trader himself.

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    Quote Originally Posted by andry777 View Post
    It is right if creating system will need time and process because traders who want to create system, they must try the system to know its effectiveness before using it in real account. It means traders need to spend time for trying it in demo account and trading with it for several weeks to know good and bad timing to use it, how to create money management with it in every different condition of market.
    Creating a trading system is a very good thing for the trader to know, it is a means by which all traders could be absolutely independent from each other, it makes more trading confidence in the trader if he creates it based on what he really understands. Forex traders does not do trading with pride if they do not have their own system, and it take long process of getting.

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    Buying and selling program indicates exactly how investor buying and selling method. The majority of the investor help to make their own buying and selling program by utilizing numerous indications. Buying and selling is simple for everybody however lucrative buying and selling isn't simple. To create make money from currency markets we want organized buying and selling method, as well as we are able to phone this buying and selling program. Additional method we are able to phone this buying and selling strategy.

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    Quote Originally Posted by rinaji View Post
    Implementation is another thing, implementation is not always as easy as learning theory, no matter we build our own trading system or adopt an existing profitable system, the most important thing is that we can understand the system that we use and adapt to our conditions. There are many good exsting trading systems that can be taken and studied by the trader, and then can be applied in real trading. But isn't mean that we can succeed instantly. But it takes time to adapt and understand the strategy that we use even though this strategy was give good results for other traders.
    Yes buddy you are saying right there are many trading system in forex, we can create a new one or can use a old one but nobody can become a profitable trader instantly we have to spend many years to gain a very good knowledge and experience within our trading system. A real trading experience is much indeed term in forex

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    Registered user techboy's Avatar
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    Quote Originally Posted by Earnperfect View Post
    Yes buddy you are saying right there are many trading system in forex, we can create a new one or can use a old one but nobody can become a profitable trader instantly we have to spend many years to gain a very good knowledge and experience within our trading system. A real trading experience is much indeed term in forex
    Success of a good strategy must be combined with consistency and discipline in its implementation, otherwise a trader will fail over and over again if he cannot learn how follow its trading rule, the market is very dynamic that it can frustrate trader even if they have good strategy.

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    It is very important to create our own trading strategy. Though it is not so easy to create our own trading strategy so quickly, but we need to render our best efforts to achieve it. Without becoming skilled and experienced we cannot able to create our own proved strategy, so we need to give more emphasis to become skilled and experienced.

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    Quote Originally Posted by techboy View Post
    Success of a good strategy must be combined with consistency and discipline in its implementation, otherwise a trader will fail over and over again if he cannot learn how follow its trading rule, the market is very dynamic that it can frustrate trader even if they have good strategy.
    Right buddy we have to combine our trading strategy with a good consistency and discipline implementation. Breaking trading rules we are breaking our business slowly slowly. Market is very dynamic sometime and can make use looser and failure in forex. A trader should have good capability to control his emotion during frustration period

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