Different Trading systems

Hi,
There are different trading systems regarding manual and the automated... Can anyone share the trading system, which one is best on for forex trade? Hope many thoughts!

Hello my friend,

Try sma 16 on close and trade 1-2-3 to start.

Determination is the key to success.

Happiness for all

Search the web for a tried and tested methods, like the MA cross, breakouts, or learn to play bounces on trends. Don't go for the newest thing out there you will burned. The old ways will work if you stick to them for any amount of time and you also practice trading them with the back tester in MT4. Do this and keep sound consistent Money Management rules you can succeed. Its when you try to find some fly by night system that ends up wiping your account. Learn the charts like flash cards, pick a time of day your interested in trading and only then. A very good time is the first hour of new york session, thats when I trade. It helps you get a good point of reference and teach you to learn the patterns coming into the day and where they are going. I personally trade at the new york hour and my targets are just 30 or 55 pips, thats it. Don't get greedy.

The only automated/management software that I trust and believe me I have tried hundreds, is one that just handles money management because I like to trigger my trades manually. Can't remember the name off the top of my head but just Google Forex Money management or something like that. Think its MTP or something. When I get home I will post it.

Good trading.

Yeah, right now there are many software is for forex trading... But, i felt hard to find the best software. But, some of the reviewers list like forex software reviews doing good companion....

Follow the trend until it ends.

try the basics, S/R stuf, price auction etc (End of Thinking Capacity.. LOL)
but it does work, and from there you can work your way up in to a more complex systems and strategies. for automation, avoid them for now, it will only waste you time specially if you do not have the programming basics.

and best of luck

From your reply, i have found that you have some negative feedback with the automated trade.. Can you share here to help the beginners and traders to stop those automated package system!?

Before you start looking for magic robots, take the time to learn how the market works. Basic macro economics for instance, can be found for free at iTunes U etc.
I don't think you'd benefit from just setting up a robot without knowing how and why it works. I know I wouldn't.

Hello espen!

The earlier step is to learn how it works and knowing the purpose of the robots are good... You have shared some iTUBE free robot are looking interesting... Can you share some ideas to help the beginners!?

The purpose of a lot of robots might be good, but I have not yet heard of one that actually works.

What I meant by iTunes U is that you can download economics lectures from top US universities, to get an understanding of how the world works in terms of macro economics.

Nice espen! Its been used for learning proceeding for the economic plans like trade business and more... Is it a general information on economic or discussed about forex like trade aspects?

It's focused on economics in general as a whole, but I don't know if there is any lectures within those courses that focuses on trading. There might be.

ok espen! I think your share may help the beginners to understand the real economic on trade.. People also welcomed here to share their suggestions!

Well, my top tip is to stop hunting for indicators that will make a lot of money. In my experience, they only work for a short while. Price action however, works most of the time. Learn to spot support and resistance levels, and draw trend lines if the pair is trending. It took me a while to understand all this, but it's well worth the effort. Practice practice practice.

For the past 4 months I've spent around 12 hours a day on this, and only now am I starting to see consistency. Don't give up.

Just to show what I mean, this is my chart for EUR/USD just now, with only support/resistance and fibonacci. I don't use fibo that often, but some times it works quite well..

Edit
I should probably explain as well. This pair is ranging, and the yellow lines represent support and resistance. So when the price hits the lower yellow line, which is called support, buyers move in and move the price the other way. So that would be a good time to go long. Its so simple its ridiculous, but it still works like a charm.

Assuming you've read up on the basics, I would suggest you take a look at the "Trading Systems" section of this forum. Go through and pick one you like the look of, and follow it consistently. Even if you ultimately decide it's not for you, you will still have gained some valuable experience. If you are new to trading, look at a system as a learning tool rather than as a means of making money. Education is the name of the game at this stage.