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advice regarding trading systems

  • #1
  • First Post: Feb 24, 2018 7:06am Feb 24, 2018 7:06am
Hi All,
most of us are here to learn and earn through forex, however 95% of us fail and end up losing their capital I believe... including myself.... I want a sincere advice if there really is any comprehensive forex system or strategy available to be successful trader and an independent one... I am willing to pay for it... but I really want a sincere suggestion from your guys.

thank u and looking forward to your responses.
  • #2
  • Feb 24, 2018 7:46am Feb 24, 2018 7:46am
Every systems that's on sale on FF are successful only if you can' make it to work for yourself. Nobody pays nothing to learn Forex. Nobody will sell to nobody nothing becos everybody is willing to pay anybody who will sell successful system becos nobody will sell them if none have it.
Do you seriously know how much a successful system is worth? All I know is retail traders will never be able to afford it.

Hehe
GS
  • #3
  • Feb 24, 2018 8:34pm Feb 24, 2018 8:34pm
Check this out.

Even if someone gave you a system with a 10% edge, you'd most like lose with it. You need to find your own system and edge.
  • #4
  • Feb 24, 2018 9:05pm Feb 24, 2018 9:05pm
Quoting alij79
Hi All, most of us are here to learn and earn through forex, however 95% of us fail and end up losing their capital I believe... including myself.... I want a sincere advice if there really is any comprehensive forex system or strategy available to be successful trader and an independent one... I am willing to pay for it... but I really want a sincere suggestion from your guys. thank u and looking forward to your responses.
All trading systems are suited to the creators personality and their goals. That's why most of the time they don't work for others. You are not a machine you bring yourself along with the trading system that's where the problem lies. All the successful traders I know created their own system by trial and error. In my opinion that the only way to go. Create a system for yourself trade a demo account, test it tweak it until it works for you. There is no holy grail system out there. If you don't have patience forex is a wrong place for you. Just because a system works for someone not necessarily work for you. Forex Factory has tons of indicators for free, download them and create a system. Don't trade with real money until you are confident you have a slight edge over the market.
  • #5
  • Feb 24, 2018 9:21pm Feb 24, 2018 9:21pm
My sincere suggestion...

Do research, a lot of it. Learn as much as you can.

Scheme. Think outside the box.

Develop a strategy.

Test the strategy. (If it doesn't work, do more research and scheming)

Turn the strategy into an EA.

This could take years! And a lot of sacrificed energy and hours. Like said many times before, there is no "holy grail". But there are individuals who make money through the markets. You just have to develop the strategy that works for you.
  • #6
  • Feb 24, 2018 9:35pm Feb 24, 2018 9:35pm
Here is my advice for what its worth.
The successful traders I know all use a very simple method or system and discretion.
Start with a simple and probably very old concept such as a short term MA cross or a DeMark trend line cross as a starting point. Then test it, and record your results.
Perhaps you get a 40% win rate. Now look closely at the losers and try and determine what could have prevented you from taking those trades. For instance you could add a Stochastic or MACD and see if the indicator was going down when you went long. Or were you trading against the trend (compress the chart). If you find that one or more of these 'filters' would have stopped bad trades, you are probably up to a 50 or 60% win rate or better. You now have the basis for a system, and it can be further improved with some discretion (which is usually a result of experience).
I want to emphasize that you should NOT pile on the indicators, or you will forget to look at what price is doing (which is where discretion comes from).
Good luck on your journey.
  • #7
  • Feb 24, 2018 9:57pm Feb 24, 2018 9:57pm
Quoting OneOracle
{quote} All trading systems are suited to the creators personality and their goals. That's why most of the time they don't work for others. You are not a machine you bring yourself along with the trading system that's where the problem lies. All the successful traders I know created their own system by trial and error. In my opinion that the only way to go. Create a system for yourself trade a demo account, test it tweak it until it works for you. There is no holy grail system out there. If you don't have patience forex is a wrong place for you....
I beg to differ..a successful system must works for all...don't believe those systems vendors whose aim is to sell and make profit for themselves. Period

Cheers
GS
  • #8
  • Feb 24, 2018 11:39pm Feb 24, 2018 11:39pm
Quoting alij79
Hi All, most of us are here to learn and earn through forex, however 95% of us fail and end up losing their capital I believe... including myself.... I want a sincere advice if there really is any comprehensive forex system or strategy available to be successful trader and an independent one... I am willing to pay for it... but I really want a sincere suggestion from your guys. thank u and looking forward to your responses.
you have heard that saying that we learn by experience? this is valid for forex.either you copycat the rules of entry and exit of strategy you purchased or you formulate your own strategies and test it,from every losing instance you learn,so its ok to lose with small live account and you become better day by day.
  • #9
  • Feb 25, 2018 12:43am Feb 25, 2018 12:43am
Quoting genghistar
Every systems that's on sale on FF are successful only if you can' make it to work for yourself. Nobody pays nothing to learn Forex. Nobody will sell to nobody nothing becos everybody is willing to pay anybody who will sell successful system becos nobody will sell them if none have it. Do you seriously know how much a successful system is worth? All I know is retail traders will never be able to afford it. Hehe GS
I actually have it posted for free with EA included. Anyone can make money from it.
Grind until you no longer have to introduce yourself. 4:30am club
  • #10
  • Feb 25, 2018 5:07am Feb 25, 2018 5:07am
Quoting Fxmd
{quote} I actually have it posted for free with EA included. Anyone can make money from it.
Whoa fantastic...alright before I become madly excited, a few basic questions about you FREE EA making money pls:
1. What is the the RRR.
2. Which currency are traded.
3. How long have you been using your money making EA.

If I assess the EA to be truly profitable with sustainable RRR I will personally donate some funds to you even though it is free becos not only do you really deserve it but I will be made to eat my own humble pie.
Await anxiously for your wonderful reply.

Cheers
GS
  • #11
  • Mar 1, 2018 11:08am Mar 1, 2018 11:08am
Quoting genghistar
{quote} Whoa fantastic...alright before I become madly excited, a few basic questions about you FREE EA making money pls: 1. What is the the RRR. 2. Which currency are traded. 3. How long have you been using your money making EA. If I assess the EA to be truly profitable with sustainable RRR I will personally donate some funds to you even though it is free becos not only do you really deserve it but I will be made to eat my own humble pie. Await anxiously for your wonderful reply. Cheers GS
I’m not working for you keep your money and do your own research.
Grind until you no longer have to introduce yourself. 4:30am club
  • #12
  • Last Post: Mar 1, 2018 11:14am Mar 1, 2018 11:14am
As long as you can manage capital risk and control your emotions, any system will do. I still advise new traders to start with a MA cross-over. These work OK, but you need tight risk controls, some limited understanding of price action for managing the exit, and the discipline to follow your own rules. The major upside, outweighing the profits is running a simple system like this will teach the trader so much about their risk tolerance and psychology.
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