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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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    Quote Originally Posted by ngalapreceh View Post
    if you have a new strategy, you have to test the trading strategy on a demo account first, do not be directly used in a real account. using a new strategy, you'll start from the beginning again. an evaluation, so that you will be able to assess the strategy, if you do not fit in with that strategy, do not use the new strategy.
    Well we have many trading strategies choices, so is not necessary to do trade with one single trading strategy if its not working. There is no need to rush and jump at once in real trading account with any strategy, so I am agree with you that we have to starting from the beginning again. Its not very easy to get the reward of successful trader, we need much time, and experience for that.

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    Quote Originally Posted by Khimi234 View Post
    Well we have many trading strategies choices, so is not necessary to do trade with one single trading strategy if its not working. There is no need to rush and jump at once in real trading account with any strategy, so I am agree with you that we have to starting from the beginning again. Its not very easy to get the reward of successful trader, we need much time, and experience for that.
    Lots of ways are there for traders to trade, but never you be switching trading strategy too much, it would really affect your trading more than you expect. Let your system of trading be strict, if that system lose for you today, it doe snot matter it would not make more money for you the next day. I do not like a trades that do not stable with their trading system, this is the way you can mage your system better.

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    Registered user lawners1791's Avatar
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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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    the strategy may be as a private usage , the thing which we can not replace it with the others . for as like our minds is differs also their strategies differs from one trader to the other . and it is not necessary of being a successful strategy with more than one trader . depending on the usage of the strategy

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    Quote Originally Posted by Hukam View Post
    No matter how much time you are taking, its important to check that you are gaining consistent profit or not, if you are following the same approach in both demo trading and real trading account then result would be same in both accounts. But I can't say about trading psychology control, beside of it, 2,3 months are good to test any strategy in demo account.
    Do not make this mistake sir. Although the use of the demo accounts and real accounts are looking same, but they are not the same in its full entireties. It is only the way the trader could be selfless with the both. I have read what the silverlady has said, and I believe it makes sense. Forex traders might not waste too much tome on demo before they start little account in real money, this would bud more than strategy, but the psychology of the trader as well, and I n no time.

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    Quote Originally Posted by cozard007 View Post
    Lots of ways are there for traders to trade, but never you be switching trading strategy too much, it would really affect your trading more than you expect. Let your system of trading be strict, if that system lose for you today, it doe snot matter it would not make more money for you the next day. I do not like a trades that do not stable with their trading system, this is the way you can mage your system better.
    If once we are getting good trading consistently in our real trading account with the use of a single trading system, then we don't need much change in it. More changes will not bring any good result, because then trader's try to do a lot of experiment which make his trading a complex way of trading. So I am agree with you that switching trading strategy too much is not a good idea at all.

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    Registered user techboy's Avatar
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    Quote Originally Posted by cozard007 View Post
    Lots of ways are there for traders to trade, but never you be switching trading strategy too much, it would really affect your trading more than you expect. Let your system of trading be strict, if that system lose for you today, it doe snot matter it would not make more money for you the next day. I do not like a trades that do not stable with their trading system, this is the way you can mage your system better.
    Agree, it is important that we test a particular strategy for a certain period of time before we decide shifting to another strategy, we should familiarize a particular strategy very well and know its strong points and weak points and make necessary tweaking for it to perform better, if after we have done everything and still it performs bad then that will be the only time that we shift strategy.

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

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    Off course a trader need to have a trading strategy. Also the trader has to made that trading strategy by himself/herself. Because if a strategy we made then it will be better for the trader to know the market condition. We have to make a trading strategy that suits us. There are so many traders are trading in forex with others method. But I think they should create a method by themselves. Thus they will be able to make consistent profit.

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    Quote Originally Posted by hosny55 View Post
    the strategy may be as a private usage , the thing which we can not replace it with the others . for as like our minds is differs also their strategies differs from one trader to the other . and it is not necessary of being a successful strategy with more than one trader . depending on the usage of the strategy
    [lang=id]everyone have different ability to understand something and feel comfortable, so they will take their own ways as the choice and use it for trading, and you are right about it, they only need to understand for what they are doing with the system in there and follow it,[/lang]

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    In accordance to a trader having his or her own trading system well this is what I have to say about it. Learn and know that you have your own personality in forex trading and know how to trade your own way.

    Some rules to me are not effective I mean you should not blindly follow rules, you thus should learn and not to be afraid of trying something new. Well, like I believe in trading without trading indicators.

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