When it comes to forex trading, most forex traders would agree that the system is key. Of course, you have to have emotional control and all that, but mastering a good system is key.
Most traders then start the search for the "best" forex trading system. Some even take it so far as to be hunting for the "Holy Grail" of forex trading. They want to be able to take trade after trade and never lose.
Well, that's just not going to happen.
So, the real question is... is there a "best" forex trading system? I think there is, but not in the way that you are thinking about it. There is a best system for you, but not a universal best system.
That just couldn't be. You see, you'd have everyone jumping on board and diluting the effectiveness of it. It's really not possible.
But there is a system that's best for you. You have a certain amount of capital. You have a certain time you can trade during the day or week. You have a certain amount of experience right now in your trading, etc.
All those things lead to the fact that that you can't just use any system and expect it to work for you.
Let me give you an example. If you can only check your charts once per day, but it's not always the same time each day (for example, due to your job), then a day trading system isn't going to work for you.
You need to quit striving for that, if you are. You should be trading an "end-of-day" kind of system where you check the charts just about once per day, and you are trading off of daily bars or candlesticks.
Most traders then start the search for the "best" forex trading system. Some even take it so far as to be hunting for the "Holy Grail" of forex trading. They want to be able to take trade after trade and never lose.
Well, that's just not going to happen.
So, the real question is... is there a "best" forex trading system? I think there is, but not in the way that you are thinking about it. There is a best system for you, but not a universal best system.
That just couldn't be. You see, you'd have everyone jumping on board and diluting the effectiveness of it. It's really not possible.
But there is a system that's best for you. You have a certain amount of capital. You have a certain time you can trade during the day or week. You have a certain amount of experience right now in your trading, etc.
All those things lead to the fact that that you can't just use any system and expect it to work for you.
Let me give you an example. If you can only check your charts once per day, but it's not always the same time each day (for example, due to your job), then a day trading system isn't going to work for you.
You need to quit striving for that, if you are. You should be trading an "end-of-day" kind of system where you check the charts just about once per day, and you are trading off of daily bars or candlesticks.
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