Other peoples trading systems won't work for you | Forex Factory

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Other peoples trading systems won't work for you

  • #1
  • First Post: Sep 17, 2018 10:02am Sep 17, 2018 10:02am
Other peoples trading systems won't Make you money!
To get rich you need to find your edge and what does and doesn't work for you.
Once you find your edge then you can build a system around it and your personality.

where to start?
When starting off Its impossible to build your own profitable system.
you don't have the skill, knowledge, or the 10,000+ hours of experience required.

So go ahead try lots of systems you read about...
Take notes of whats working and whats not for you.
Try different time frames.. Try everything you feel looks interesting.
Try trading naked charts too.
The more you try the more you learn.
One day something will click and you know you will have found your edge.

Don't expect to earn money from other peoples systems... expect knowledge.
Even if the knowledge is "these stupid trend lines don't work at all for me"
Even make notes about what times of day you have the most luck...
Make notes on everything...
Make note on your best days... And your worst days.
Make notes about news events and how you performed.
Build on the good and where your most comforable avoid the bad like the plague!
Don't waste too much money during the learning process... you will need it for later..

Once you find your edge, you can build your own system around it.
That system will only work for you!
Best of luck!
The only system that will work is one designed by and for yourself.
  • #2
  • Mar 10, 2019 4:01am Mar 10, 2019 4:01am
Seriously I wonder why nobody here
  • #3
  • Mar 10, 2019 7:00am Mar 10, 2019 7:00am
Agree with the post, every trader should build come confidence in their own self rather than relying upon others.
  • #4
  • Mar 15, 2019 3:31am Mar 15, 2019 3:31am
Very true, other people's strategies can never work well for you. In order to be more successful, you have to identify your edge and then build your system around it and your personality. You must try and backtest strategies to ensure the best results are achieved. Build more on what works best for you and drop trading methods that don't. That's why demo accounts are important
  • #5
  • Mar 15, 2019 11:55am Mar 15, 2019 11:55am
You will lose a lot while learning, but can absolutely anyone learn trading? I don't think so.
  • #6
  • Mar 26, 2019 2:24am Mar 26, 2019 2:24am
Quoting LanaBanana
You will lose a lot while learning, but can absolutely anyone learn trading? I don't think so.
I am not sure on the absolute terminology; but if new traders are dedicated enough, then they can build a good trading skill by long practice.
  • #7
  • Jun 9, 2019 7:04am Jun 9, 2019 7:04am
You mean here something like EA's ? "The forex expert advisor is a program capable of performing in the terminal any action following the instructions of a trader, without his direct involvement." But even if not it will not work in the long run anyway, only your mistakes.
  • #8
  • Jun 10, 2019 10:57am Jun 10, 2019 10:57am
Quoting GeorgeBaile
{quote} I am not sure on the absolute terminology; but if new traders are dedicated enough, then they can build a good trading skill by long practice.
How long should you allow yourself to lose so that it doesn't become addiction?
  • #9
  • Jun 15, 2019 4:56am Jun 15, 2019 4:56am
[quote=bloodpoodle;11487195]Other peoples trading systems won't Make you money! To get rich you need to find your edge and what does and doesn't work for you. Once you find your edge then you can build a system around it and your personality. where to start? When starting off Its impossible to build your own profitable

I agree with you.
  • #10
  • Jun 24, 2019 1:54am Jun 24, 2019 1:54am
[quote=salimc;12330907]
Quoting bloodpoodle
Other peoples trading systems won't Make you money! To get rich you need to find your edge and what does and doesn't work for you. Once you find your edge then you can build a system around it and your personality. where to start? When starting off Its impossible to build your own profitable I agree with you.
That’s the real fact; we should focus on our own path! There is no way to rely on others trading strategy or system.
  • #11
  • Jun 24, 2019 10:56am Jun 24, 2019 10:56am
Entirely reasonable argument.
  • #12
  • Jun 29, 2019 12:46am Jun 29, 2019 12:46am
Quoting clarke1386
Entirely reasonable argument.
There is no argument actually! It’s a clear massage; there is no way to rely on others!
  • #13
  • Jul 6, 2019 12:00pm Jul 6, 2019 12:00pm
I think that one can test someone else's trading approach and if necessary they can change it enough to fit their needs.
  • #14
  • Jul 18, 2019 12:24pm Jul 18, 2019 12:24pm
Perhaps one of the biggest misconceptions that most people seem to have about professional traders is that they are ultra-smart Ivy-League math-wiz’s who have some super-human ability to make money in the markets.
Whilst it is true that some people are naturally a little better at trading than others, it’s also true that the habits and mindset we need to consistently pull money out of the markets is not something anyone is born with. Basically, we come pre-wired to suck at trading.
Evolution has had a lot more time to have an effect on our more primitive ‘fight or flight’ brain areas than our more advanced brain areas which have evolved much more recently and are the ones we need to be good traders.
  • #15
  • Jul 18, 2019 12:27pm Jul 18, 2019 12:27pm
Other's system won't work for you because basically you are trying to force yourself to trade the trader's behavior and belief Easy as that
  • #16
  • Jul 21, 2019 12:15pm Jul 21, 2019 12:15pm
If another person's system is not working out for you generally the reason is because you are not doing it right. Maybe you don't have the time, maybe you have a different attention span, maybe your emotional response to trading is different, etc. But as dkrock says above, math is math.
  • #17
  • Jul 29, 2019 11:11pm Jul 29, 2019 11:11pm
Quoting mlawson71
If another person's system is not working out for you generally the reason is because you are not doing it right. Maybe you don't have the time, maybe you have a different attention span, maybe your emotional response to trading is different, etc. But as dkrock says above, math is math.
Learning& studying on others strategy maybe a good option; but replying on others & copying others system is quite bad!
  • #18
  • Jul 30, 2019 12:01pm Jul 30, 2019 12:01pm
Quoting ZikriIrfan
{quote} Learning& studying on others strategy maybe a good option; but replying on others & copying others system is quite bad!
True. Exactly copying a trading approach usually doesn't work because every person is unique. Learn a strategy and then adapt it to your needs.
  • #19
  • Jul 30, 2019 8:19pm Jul 30, 2019 8:19pm
If you are following/using a system thats its proven to works and its based on a repetable/exploitable (lol?) condition that present over and over again in whatever market you are using it.. then why the hell it would not work for you?? of course if you are following the rules right to the T..

the ONLY goal of this is to make money and if you found someone that its doing it consistently with a proven method then there is not a single reason why you wont make money with it..


what a load of nonsense in the first place !!
  • #20
  • Jul 30, 2019 11:51pm Jul 30, 2019 11:51pm
Quoting mlawson71
{quote} True. Exactly copying a trading approach usually doesn't work because every person is unique. Learn a strategy and then adapt it to your needs.
But I see; a number of traders try to copy others trading system; as a result huge loss!
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