How can a newbie trader apply the systems developed and used by other people? - Forex Questions and Answers - FXAnswer

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How can a newbie trader apply the systems developed and used by other people?

I realized that every system out there suits different personalities. I tried demo-ing some systems but my trials just left my account dead. I donâ€™t want to stop trading but it seems this profession is not for me. :( Can anyone show me how to find the right system for me?

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- thegreeks
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1 year ago

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0 Votes There are many systems which work very well but the winning or loosing depends on how you control your emotions while trading.So Trading Mindset is more important. First you demotrade the system and see how it fits your trading style. by Suneetha 1 year ago by Suneetha 1 year ago
0 Votes Maybe you can try tinkering with several technical indicators, such as EMAs, oscillators, or Fibonacci tools, and try to develop a system of your own - even if it just a very simple one. Try to figure out which indicators are highly predictive and those that you are most comfortable with using. You can backtest a set of indicators to see if your system is profitable. I think it is important that you first understand the dynamics behind trading systems before you implement them... and experimenting with technical indicators should help you with that. You can also start with the basic systems first before moving on to more complicated ones. Don't give up so easily! Your account may be on the downside in the meantime but if you do find that system that works best for you, then all the effort would be worth it. Patience. Practice. Good luck trading! by Harold 1 year ago by Harold 1 year ago
0 Votes First of all you need to understand the system that is provided. You should then try to mix and match with other system taking maybe some of their indicators to match creating your own system. Test it and see how it reacts to the market. It takes a lot of time and patience before you can find one that works for you. by RPT 1 year ago by RPT 1 year ago
0 Votes You shall study the concept behind the system and applying it to your trade step by step. by Kingpin 1 year ago by Kingpin 1 year ago
0 Votes You need to stick to a system first before switching to another. Just because a system does not give 100% accuracy, does not mean it fails as there is no system that is fool-proof. If you try a system for a certain period of time until you are skillful in determining the good setups for entry and exit, then you will know the percentage of gains it provide vs losses. You can even work on improving the system but if it fails generally, then move on. Helpful tip: Understand the concepts of technical indicators first: what they do, what they signify- what you will learn will help you in using technical indicators more effectively rather than just blindly following them without understanding. by fxpie 1 year ago by fxpie 1 year ago
0 Votes yes by Dave 1 year ago by Dave 1 year ago
0 Votes by first reading the forex for beginners courses available. then try others' systems following their instructions by slim 1 year ago by slim 1 year ago

Votes

There are many systems which work very well but the winning or loosing depends on how you control your emotions while trading.So Trading Mindset is more important. First you demotrade the system and see how it fits your trading style.

Suneetha

1 year ago

Votes

Maybe you can try tinkering with several technical indicators, such as EMAs, oscillators, or Fibonacci tools, and try to develop a system of your own - even if it just a very simple one. Try to figure out which indicators are highly predictive and those that you are most comfortable with using. You can backtest a set of indicators to see if your system is profitable. I think it is important that you first understand the dynamics behind trading systems before you implement them... and experimenting with technical indicators should help you with that. You can also start with the basic systems first before moving on to more complicated ones. Don't give up so easily! Your account may be on the downside in the meantime but if you do find that system that works best for you, then all the effort would be worth it. Patience. Practice. Good luck trading!

Harold

1 year ago

Votes

First of all you need to understand the system that is provided. You should then try to mix and match with other system taking maybe some of their indicators to match creating your own system. Test it and see how it reacts to the market. It takes a lot of time and patience before you can find one that works for you.

RPT

1 year ago

Votes

You shall study the concept behind the system and applying it to your trade step by step.

Kingpin

1 year ago

Votes

You need to stick to a system first before switching to another. Just because a system does not give 100% accuracy, does not mean it fails as there is no system that is fool-proof. If you try a system for a certain period of time until you are skillful in determining the good setups for entry and exit, then you will know the percentage of gains it provide vs losses. You can even work on improving the system but if it fails generally, then move on.

Helpful tip: Understand the concepts of technical indicators first: what they do, what they signify- what you will learn will help you in using technical indicators more effectively rather than just blindly following them without understanding.