There are profitable forex trading systems. If you look at the charts backwards, you will be able to come up with a profitable forex trading system that would work 80% of the time.
The problem lies with the implementation. Many aspiring forex traders simply do not have the emotional and psychological tools required to implement profitable forex trading systems. I can give you mine for free. I used it to grow my account from $502 to $12,666 in two months and yet, many people can still not follow the simple rules.
So my advice is this, forex trading system is just part of the puzzle. You must learn to bring your emotions under control and get it out of your trading. Start really small with real account, work with a mentor. Join a forex trading room, where traders gather every trading day live to discuss setups. When you do, you will be able to find a mentor in that trading room, who can help you avoid common mistakes. Without a mentor, it will very tough for you to grow to your next level as a forex trader.
I watched an interview the other day on forex trading at the London Close and it was eye opening. You can watch it for free. It is in two parts. First part is 15 minutes and second part is 10 minutes.
It really will help you. You can see the interview here at this blog post:
Which ever profitable system you decide to use, be sure you trade with a mentor.
· 9 years ago