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How to master a trading system

  • #1
  • First Post: Dec 12, 2012 3:54pm Dec 12, 2012 3:54pm
How do i master a trading system so i enter and exit as per plan?
  • #2
  • Dec 13, 2012 3:56am Dec 13, 2012 3:56am
Quoting junkone
How do i master a trading system so i enter and exit as per plan?

I believe you are referring to a trading plan.

Every trader should have a trading plan to dictate how he should approach and trade the market.

A trading plan should include, but is not limited, to the following:

1. A daily trading routine
2. Sources for market news and events for an overall market view, to form a fundamental analysis
3. Chart time frame for analysis and time frame for entries and exits, to form a technical analysis
4. Entry and exit criteria
5. Market conditions to trade in, e.g., trending market, ranging market, significant news events
6. Trading strategies for the above market conditions
7. Currency pairs to trade and pairs to avoid
8. Market conditions to stop trading
9. Mental conditions to stop trading
10. Amount to risk per trade ? i.e., money management
  • #3
  • Dec 14, 2012 4:43am Dec 14, 2012 4:43am
Quoting Frankxyz
I believe you are referring to a trading plan.

Every trader should have a trading plan to dictate how he should approach and trade the market.

A trading plan should include, but is not limited, to the following:

1. A daily trading routine
2. Sources for market news and events for an overall market view, to form a fundamental analysis
3. Chart time frame for analysis and time frame for entries and exits, to form a technical analysis
4. Entry and exit criteria
5. Market conditions to trade in, e.g., trending market, ranging market,...


Very good reply
  • #4
  • Feb 3, 2013 7:05pm Feb 3, 2013 7:05pm
1. Determine which TF you want to trade in
2. Find or Create a trading plan that suitable for your personality and the TF you are trading in
3. Do Backtesting on the strategy
4. If backtesting result is good then have confidence in the strategy
5. Open a demo account and execute the trade signals with discipline until you doubled your account twice....
6. after you passed no.5, you can start to trade in live account

Good luck

Quoting junkone
How do i master a trading system so i enter and exit as per plan?
Failure leads to Success if one learns from mistakes and never give up
  • #5
  • Feb 4, 2013 5:45pm Feb 4, 2013 5:45pm
Leave creativity to your art classes and piano playing.

Good traders make decisions ahead of time. The act of trading is essentially mechanical... rather, mathematical.

The easiest way to kill an account is to trade for "wins" over "losses." Trading has nothing to do with wins and losses. It has everything to do with equity.
  • #6
  • Feb 4, 2013 8:03pm Feb 4, 2013 8:03pm
Quoting junkone
How do i master a trading system so i enter and exit as per plan?
Each trading plan has strong poins and his weakness.

Just trade as how the tradig plan it says, or write an EA and when you see you are loosing in consecutive or to much than you know where is the weak point. ( most trending system weak point is the ranging market).
When you win consecutive or "to much" you will know where is the strong point.

This is knowing your system.

Mastering it, for me it means: you will know each of the point why exactly it is there, and you know what happens if you modify a little bit. For example the last tading system on what I have take a look it was the: easy as PI.I have asked why is MA22/MA7 and why not MA22/Ma5 and I have checked and saw what will change, when will change and so on. But the same with entry , exit points, money management rules, timeframe and so on.
I want to buy PATIENCE
  • #7
  • Nov 26, 2020 3:06am Nov 26, 2020 3:06am
If you want to become successful in the forex market, you have to make a good trading plan. Without a good trading plan , you can not make money form the forex market.
  • #8
  • Nov 26, 2020 5:18am Nov 26, 2020 5:18am
It is never possible to gain profit without a trading plan and proper money management. Trading discipline and emotion control are required to make a profit. If this is not done, success will never be achieved.
  • #9
  • Nov 27, 2020 1:00am Nov 27, 2020 1:00am
Quoting Frankxyz
{quote} I believe you are referring to a trading plan. Every trader should have a trading plan to dictate how he should approach and trade the market. A trading plan should include, but is not limited, to the following: 1. A daily trading routine 2. Sources for market news and events for an overall market view, to form a fundamental analysis 3. Chart time frame for analysis and time frame for entries and exits, to form a technical analysis 4. Entry and exit criteria 5. Market conditions to trade in, e.g., trending market, ranging market, significant...
Nicely said. Very informative comment. Thanks for your valuable info.
  • #10
  • Nov 30, 2020 7:45am Nov 30, 2020 7:45am
If you want to become successful int he forex market, you have to learn all the basics of forex perfectly. Besides, you should practice more and more to become an experienced trader.
  • #11
  • Dec 9, 2020 6:53am Dec 9, 2020 6:53am
Before mastering any system, a trader needs to know various types trading of methods. Then from all those methods, he should pick one that he understands the most. It's a long process. It takes years to get the edge.
  • #12
  • Dec 9, 2020 9:12am Dec 9, 2020 9:12am
Quoting Frankxyz
{quote} I believe you are referring to a trading plan. Every trader should have a trading plan to dictate how he should approach and trade the market. A trading plan should include, but is not limited, to the following: 1. A daily trading routine 2. Sources for market news and events for an overall market view, to form a fundamental analysis 3. Chart time frame for analysis and time frame for entries and exits, to form a technical analysis 4. Entry and exit criteria 5. Market conditions to trade in, e.g., trending market, ranging market, significant...
Very true by referring to my own experience. All these rules are easy said than done because of emotions affecting execution.

By statistics, many trading systems are actually profitable in a long run, more than we think.
  • #13
  • Dec 9, 2020 7:32pm Dec 9, 2020 7:32pm
Success in trading requires a plan. It is never possible to survive in trading without a plan. Every trader should work by maintaining a plan and discipline.
  • #14
  • Dec 10, 2020 1:35am Dec 10, 2020 1:35am
Practice makes a man perfect. If you want to become successful in the forex market, you have to practice more and more.
  • #15
  • Last Post: Dec 11, 2020 1:48am Dec 11, 2020 1:48am
Quoting junkone
How do i master a trading system so i enter and exit as per plan?
Forex trading requires specific knowledge and skills. You need the ability to find a good trade and control your emotions. New trades most of the time focus on making profit. They ignore learning and skills. As a result they take impulsive decision.
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