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Thread: The Importance of Creating a Trading System!

  1. #1
    Trader 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. #3861
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    We should try to create a good strategy before we should invest money to start trade in the live account. Even if we can construct our own strategy there are many strategies which we can use to trade and make money in the market. We just have to choose one strategy and learn to understand the strategy very well first.

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  3. #3862
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    Quote Originally Posted by missphat View Post
    We should try to create a good strategy before we should invest money to start trade in the live account. Even if we can construct our own strategy there are many strategies which we can use to trade and make money in the market. We just have to choose one strategy and learn to understand the strategy very well first.
    Trader will never create a good trading strategy if he has never tried trading in real account and only in demo account. Demo trading differs very much from real trading as trader does not worry about virtual money. Trader should invest little money into real account and see the difference between demo and real account and only then he will be able to create a trading system.

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  4. #3863
    Trader Rylai's Avatar
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    Quote Originally Posted by Rola View Post
    Trader will never create a good trading strategy if he has never tried trading in real account and only in demo account. Demo trading differs very much from real trading as trader does not worry about virtual money. Trader should invest little money into real account and see the difference between demo and real account and only then he will be able to create a trading system.
    Preparing a strategy must be done in demo account first. there's no point of doing that in real account because it's a wrong way to go. creating a trading system is better to be done safely in demo without risking anything we have. understand our own risk in using our money first before we can handle our trading account once we're prepared with the knowledge and ready for real trading.

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  5. #3864
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    Having a good strategy is very necessary for the trader for getting success in Forex business. I think making or choosing a good trading strategy is not easy work it is hard and tough work and cannot be possible without good knowledge and trading skills. If trader get success in making good strategy then he can easily make good capital from Forex business.

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  6. #3865
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    Quote Originally Posted by Rylai View Post
    Preparing a strategy must be done in demo account first. there's no point of doing that in real account because it's a wrong way to go. creating a trading system is better to be done safely in demo without risking anything we have. understand our own risk in using our money first before we can handle our trading account once we're prepared with the knowledge and ready for real trading.
    when we know about own risk we can choose a good strategy, some time we do not know about own targets, about own strategies and anything we blindly trade that is wrong, make sure you have a good target into trading you have good skills and management if you have these all you can do trade in right way, most important thing is our proper learning and proper time giving if we have these all we can do trade in right way

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  7. #3866
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    Trader who don't have the interest of creating a trading system is not yet ready to achieve success, though not everyone can succeed in the task of creating their own trading strategy, that's why a lot of strategies has already been created for those trader's, if you cannot create your own strategy at least choose one of those strategies that has been created already, strategy is important because it's the only thing we need to analyze the market well.

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  8. #3867
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    If we able to build a working system then use of working skills and the ability to manage the trade properly and also have the capacity to trade very rightly are making our dreams possibly accomplished so comprehensive own knowledge and get more information with build planning very better is useful to do so it .

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  9. #3868
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by Eneregha View Post
    Trader who don't have the interest of creating a trading system is not yet ready to achieve success, though not everyone can succeed in the task of creating their own trading strategy, that's why a lot of strategies has already been created for those trader's, if you cannot create your own strategy at least choose one of those strategies that has been created already, strategy is important because it's the only thing we need to analyze the market well.
    Soon after getting along with market for some time, traders will find their interest in making their own trading system, which may take longer or until they lose several times with market. People usually learn new things after they make mistakes somewhere inside their strategy and with their personal challenge to know what happened, they will take their time to evaluate their strategy until they come up with this trading system idea.

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  10. #3869
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    To really know and understand the forex market so well then we all needs to make sure that we starts learning how the forex market works and understanding the best means to make sure that we follow the main trends at all the times and that is only possible whenever we have been able to develop a good trading system which is easy to follow and make trading decisions without must stress most times. creating our trading systems is the best way to understand when to start buying or start selling and we should be willing to invest enough time into learning how to make use of these things before even starting out on the real tradings.

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  11. #3870
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    The important thing when trading with the use of a personal trading strategy is that you already know the in and out of the business and then you trade with the risk management as you understand. Forex is a risky business and traders should know what he is doing in the market and how he is going to earn. So we need a trading system or strategy to know how we will be earning money.

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