Forums Free Forex Trading Systems What's the best trading system for a beginner?

What's the best trading system for a beginner?

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19/08/2011 09:11 AM

sadscorpion User

Posts: 508
Member since: 08/02/2011

This is a question asked by so many newbies to me so i try to ans this question in this thread....

The best system for you is probably the one you make up for yourself.
This takes a lot of time and effort.
This process usually involves buying, looking for and testing others' systems anyway, despite the advice, and realizing the truth of my original statement after years of failure.

Like any business, you will need to invest something before you see a return.
Get a trial copy of "Forex Tester", just Google for it.
You will probably want to purchase it.
This will allow you to experiment and test strategies in a very efficient manner.

Forget EAs. They are for entertainment only and a waste of money at that.

Don't believe most of what you read or hear. 95% of it is worthless, including all the business about stops. 95% of what you hear and read is from the 95% who cannot trade.

You should be able to trade without any indicators.
As said above, it is all about money management.

Contrary to what you will read, entries are nowhere as important as exits. If you know what you are doing you can enter at random and profit.

95% of traders do NOT succeed. Do not make the mistake of automatically thinking you are one of the 5%. Statistically you probably are not.

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23/08/2011 03:49 PM

widhie75 User

Posts: 105
Member since: 05/12/2010

The best trading system for beginner is same as best as professional trader.........coz market can't see if you newbie or expert.

But I guess the best technique for trading is trade follow trend & no trading when sideways, & not open order too much.......1 order at time is good i guess.

26/08/2011 12:42 PM

ironical User

Posts: 299
Member since: 22/04/2011

The best system for you is probably the one you make up for yourself.

True. There can be many strategies and systems that work best for others. But best system for a trader is the one made by him. That is why it is normally said that all strategies and systems given on different forums are useless. They cannot satisfy you. It is best to practice ur skills by trading. It takes a long time but its the only way I think.

The good or ill of a man lies within his own will. – Epictetus

26/08/2011 08:06 PM

index1php User

Posts: 38
Member since: 12/08/2011

I believe that if a trader knows the behavior of a certain EA it can be very useful. EA or Script can do repeatitive work for traders...

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27/08/2011 11:56 PM

Champ User

Posts: 276
Member since: 17/05/2011

Originally posted by index1php
I believe that if a trader knows the behavior of a certain EA it can be very useful. EA or Script can do repeatitive work for traders...

Its hard for beginners to run an EA properly. There is another option too. It is to follow expert traders which you can find on websites like fxstat. But both of these options are good if the main objective is only profit making. If a trader wants to be a good trader and wants to develop a strategy or want to be an expert of a successful strategy then its only practice that can make him successful. No EA or Signal can make you an expert trader. These things can make you profitable. The problem with practice is that u will loose and invest ur time too. The result is better but only for those who can wait and have the courage to loose.

28/08/2011 10:05 AM

megrawab Hostedslavebeta

Posts: 270
Member since: 16/08/2011

"You should be able to trade without any indicators.
As said above, it is all about money management. "

- I worry if I can do this. Or is it really a rule?

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28/08/2011 10:38 PM

uniquetrader User

Posts: 464
Member since: 21/04/2011

I also want some more explanation of this sentence

You should be able to trade without any indicators.
As said above, it is all about money management.

What does it mean? Why we need to trade without any indicator? Do you mean that traders should understand chart movements and analyze them without any indicator?

Trading is a discipline.

31/08/2011 06:40 PM

Jogi User

Posts: 294
Member since: 06/06/2011

Originally posted by uniquetrader

I also want some more explanation of this sentence

You should be able to trade without any indicators.
As said above, it is all about money management.

What does it mean? Why we need to trade without any indicator? Do you mean that traders should understand chart movements and analyze them without any indicator?

I think it is simple price action strategy. Where u just analyze chart movements and enter or exit a trade. Very popular strategy

The road to success is always under construction.

09/02/2011 05:41 PM

sadscorpion User

Posts: 508
Member since: 08/02/2011

Originally posted by widhie75

The best trading system for beginner is same as best as professional trader.........coz market can't see if you newbie or expert.

But I guess the best technique for trading is trade follow trend & no trading when sideways, & not open order too much.......1 order at time is good i guess.

yaa you are right that market dont care who you are and your experince and effoort to learning thhe trading but 1 oder at a time i cant understant that bcs if you have a good money managment then you can open more but if you can handle them at a time without stress.

09/02/2011 05:44 PM

#10

sadscorpion User

Posts: 508
Member since: 08/02/2011

Originally posted by megrawab

"You should be able to trade without any indicators.
As said above, it is all about money management. "

- I worry if I can do this. Or is it really a rule?

dear if you have good money managment and price move of a currency then you dont need any indicator but first to go like this add two more things in your trading style one fibonachi and trend lines and trade on them i see more than 10 peoples trading without any single indicator but they just see the price move and candle formations.

15/09/2011 05:29 PM

#11

illiterate User

Posts: 271
Member since: 21/04/2011

I liked the 2nd line of the first post by sadscorpion.

The best system for you is probably the one you make up for yourself.

Actually it takes time, money and maybe frustrating sometimes. But its very true that the system you make urself will work best. It was a nice article :).

"There is no such thing as a functional illiterate."

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