The Importance of Creating a Trading System! - Page 399
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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. #3981
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    We need a system that would possibly guide us through on the technique of working for the best in forex. Traders need a system they can depend on and this is one of the best thing that would keep them going. Forex is a profitable business and if we can learn to make a good trade the better for us in this trade. Let's work hard to learn and let's understand how important it is to build our system.

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  3. #3982
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    We should make sure that we have learned and understand way we want to trade, but I will suggest that we shouldn't think about making the choice of making use of scalping trading method. We should learn instead and know how the market works. Then that will give us the idea of which strategy is suitable for the market.

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  4. #3983
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    Quote Originally Posted by usama aziz View Post
    We cannot create a trading system until we have good experience on this business. we must make first a strong and powerful trading system that is help us to earn daily basis profit on forex market and to use a strong and powerful trading system we can determine the market trend easily. we must focus on learning because without learning traders success is never possible.
    Of course, trader can create good trading system when he has good experience and market knowledge. New trader will not build profitable trading system because he is lack of knowledge and experience. Good trading system has simple entry and exit rules that trader can follow and earn money. Every trader must have a trading system.

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  5. #3984
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    We must build a plan and after it to follow the working plan with generating more ideas and getting the experience also all are the key factors to maintain our place in this market so we should use the correct skills to ought the basic aspects and to build own trade systems after a long time will help in defining the trade process into the right manners and help in getting success surely .

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  6. #3985
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    We all need to create a good trading system so that we can have the opportunity to always make money from this market, whenever we trade and don't have retracement anything that supports what we are doing, that automatically means we are going to have serious challenge which is something that we should avoid as traders.

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