Questionnaire for "key traits of a winning system"

Hi guys,

Please feel free to answer the below questions to help me analyse the gathered data for my research project, look at the question and answer it by choosing one of the agreements or disagreements, by only writing one of them below the questions.

Key characteristics of a winning forex system

1 – Does the psychology of the trader determine the winning rate of the trader?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
2 – Having end of the week objective or aim help assist the trader towards success?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
3 – Does the ‘personality’ of the individual actually impact the success rate of that person?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
4 – Considering the philosophical thought “ignorance is bliss”, so having less knowledge of the way the market operates, and only knowing how to use the followed strategy, do you think it will increase the success rate?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
5 – In the market, do you think, ‘trend is your friend’?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
6 – Is the ‘Holy Grail’ the way the trader thinks and sees the market?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
7 – Is the ‘Holy Grail’ the trading system the trading is following?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
8 – Are new emerging technical indicators useful?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
9 – Does the use of few indicators compliment the trader’s confidence in taking a trade?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
10 – Can small start-up capital be a disadvantage for the new trader?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
11 – After 4 years of trading experience, does it mean the person is successful?
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
12 – Does back-testing blur the traders live perception of how a ‘set-up’ or ‘exit’ look like? (In a sense that: the back-testing is that past, it’s not live, but in the live trade price is moving consistently, therefore the indicator moves with the live price movement)
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree
13 – Do technical indicators give the trader false perception of the market? As they are lagging behind the actual price movement of the market
{C}1. Strongly agree
{C}2. Mediate agree
{C}3. Agree
{C}4. Disagree
{C}5. Mediate disagree
{C}6. Strongly disagree

1. Disagree
2. Disagree
3. Agree
4. Strongly disagree
5. Agree
6. Disagree
7. Disagree
8. Agree
9. Strongly Agree
10. Disagree
11. Disagree
12. Disagree
13. Disagree

1. Agree
2. Agree
3. Strongly agree
4. Disagree
5. Strongly disagree
6. Strongly disagree
7. Strongly disagree
8. Mediate agree
9. Mediate agree
10. Strongly disagree
11. Mediate disagree
12. Mediate agree
13. Mediate agree

Old thread that looks like it was ignored. The questions do not refer to a system, so perhaps that is why??

Does the psychology of the trader determine the winning rate of the trader? Of course

Having end of the week objective or aim help assist the trader towards success? Ridiculous. You get whatever the market gives you. Your only objective is to actually place trades.

Does the personality of the individual actually impact the success rate of that person? It is not supposed to, but depends on what you mean by personality? Intelligence? Self-discipline? Self-control? Work ethic?

Considering the philosophical thought ignorance is bliss, so having less knowledge of the way the market operates, and only knowing how to use the followed strategy, do you think it will increase the success rate? Stupid is as stupid does.

In the market, do you think, trend is your friend? I have no idea. A trend is just a range on a higher time frame. I trade ranges.

Is the Holy Grail the way the trader thinks and sees the market? I do not know how Jesus' cup from the Last Supper relates to trading, but I interpret it to mean having the best probability you can achieve.

Is the Holy Grail the trading system the trading is following? ????

Are new emerging technical indicators useful? The indicators given away freely in meta trader are not very useful. The predetermined period setting is wrong, probably intentionally, and a lot of them give false signals. As a general rule, if I cannot see the coding of an indicator, then I cannot trust it because I do not know what it is doing.

Does the use of few indicators compliment the traders confidence in taking a trade? I only use indicators. They show me when to enter, when to exit, and when to be cautious. They are rarely wrong, but can be occasionally because I am the only one using them, so other traders are doing crazy things based on their own reasons and that can disrupt things temporarily until the market consumes their mistake. However, it does alter signals, so sometimes you have to rely on your brain.

Can small start-up capital be a disadvantage for the new trader? Why would it be? You are either a winner or loser, no matter how much money you have.

After 4 years of trading experience, does it mean the person is successful? That has nothing to do with anything. I have 30,000+ hours of trading time. At one point, I only had 100 hours, lol. You must design a system that gives you an edge according to your personal knowledge and experience. For some, it is quick. For others, it takes a long time because they evaluate and modify and improve. How long does it take? It depends on your business plan.

Does back-testing blur the traders live perception of how a set-up or exit look like? Back testing is vital to evaluating your technique. Once you think you have a good set of rules for entry and exit, then you must forward test it. Historical charts have the adjusted values of indicator settings applied. Forward moving charts do not. There is sometimes a difference in how they react.

Do technical indicators give the trader false perception of the market? As they are lagging behind the actual price movement of the market. Most indicators are not lagging, so why would they give a false perception? Some indicators do not update until candle close, and some update over the past X candles, but most are following the live movement, tick by tick.

Now that I have answered the OP questions, here is my list for key traits of a winning system.
1. At the end of the day, week, month, etc, it makes consistent profit.
2. You understand how it works and trust its signals, win or lose.
3. You actually enter and exit in accordance to your signals and make an overall profit as defined by your business plan.

Well said mate! Trading process or the trading plan is like a map we need before starting to travel. If we do not follow the plan dedicatedly we have huge chances to be lost in midway. Following a well thought trading process can give the trader an opportunity to trade objectively with greater confidence and less emotional environment which can act as a major driver for success or failure in Forex trading.