leverage.fonetekno.com– Forex trading systems: 7 secrets to choose a profitable system. Do you have your own profitable Forex trading system? Do you intend to buy one or build your own?
The Forex Trading System is your rule to help you profit from the Forex market over and over again. This will help you decide from the entry to the exit of the trade. You must also protect your capital from adverse market conditions and maximize your profits during any favorable trends.
With a good Forex trading system, you don’t have to think twice about entering or exiting a trade. You know that it will generate great profits in the long run. However, with so many Forex trading systems, choosing one that is consistent is not easy.
Today, we are going to cover 7 secrets to choosing a profitable trading system that will keep you going day in and day out.
1. Don’t choose a day trading system
The idea of trading many times a day to increase your profits seems beautiful. You have to think that the more you trade, the more money you can earn! This concept has left many day traders searching for the perfect Forex Trading System.
However, most will fail and lose your money. There is a reason why day trading can hardly work for many people. When you trade during the day, you exploit the short-term movement of the day. The problem is that these intraday movements are very volatile and random.
This can be a huge increase either way and the average trader will find it difficult to keep making the right decisions. You won’t see many rich merchants in the market. Have you ever seen Warren Buffet boost day trading? Nope! He even convinced merchants not to trade unless necessary.
2. Simple trading system works well
Did you know that a simple trading system can work in all kinds of market environment? It doesn’t launch in tough market conditions because it doesn’t try to fit the curve.
A complicated system will try to use many indicators to arrive at trading decisions. Such systems often fail when the market changes its personality. In short, the complexity setting does not increase your earnings. The main reason why simple systems always outperform complex systems is the traders themselves.
When a trader understands a simple system, they are more confident to execute trades. He knows the principle behind it and will continue to use this system even during losing periods.
By using the same system over a large sample of trades, it will appear profitable with a balanced number of winning and losing trades. Therefore, a simple forex system often produces an overall net profit.
3. Understand how your trading system works
Never buy a black box system if you don’t know how it works.
There are many trading software that give you signals after entering some parameters. Let me be careful as this may be a poor choice.
Everything goes well when you win, but the problems grow when you lose. You don’t know why you’re losing money because you don’t know how it works. All the question marks begin to appear and soon you will lose confidence. A trading system is lost without your understanding and trust.
You will not be able to trade a large sample of trades to make a profit. This is why you should stick to Forex trading systems that you can understand and trade manually.
4. The worst withdrawal in history
All trading systems will be carded. This is unavoidable, but you want to focus on the worst disappointments in the system. You have to ask yourself if you can bear this % withdrawal. You also have to tolerate a possible number of losing days before you can become profitable again.
This is to help you prepare for the same scenario that happens. Once you understand this, you will be well equipped to get through it unscathed. You will not suddenly abandon your trading system and miss out on the next profit period.
5. Be careful with the curves according to your system
Never use a system that requires different parameters to sell different coins. This may be a curve fitting system and the parameters only work during post testing. Even if your system is profitable during live trading.
It rarely lasts long because it’s not based on how the market actually works. Currencies keep going up and down because human traffickers do. And human traffickers will never change their human behavior. So build your system on this principle and not on test results.
6. History tells you everything
A global trading system should be through live trading and be profitable. It should not only be profitable during the trial period. It should work now. Be careful with hypothetical notes that are, of course, made after the fact, knowing the closing price. Anyone can make a profit this way!
7. Money back guarantee
System builders will provide a money back guarantee if you trust their system. No one will ask for your money back if it is a profitable system.
So these should be the conditions given when you bought the Forex Trading System.
I have reached the end of these 7 secrets. Follow them and you will probably end up with a Forex trading system that is better than 95% of the systems on the market.