Forex Day Trading System

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Forex Day Trading System - What Every Day Trading System Should Have

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Forex Day Trading System

  1. 1. Forex Day Trading System What Every Day Trading System Should Have
  2. 2. Trading with a system? <ul><li>There are countless of Forex day trading systems available online for retail traders to follow. Unfortunately, most of them are either simply ineffective, or are downright scams. </li></ul><ul><li>Selecting a reliable online Forex trading system is not an easy task. In this slideshow, I will briefly discuss two main issues you should consider when looking to purchase your own trading system. </li></ul>
  3. 3. Issue #1 – What’s the biggest drawdown? <ul><li>It’s not difficult to make tons of money in Forex trading. A blindfolded monkey can probably do that. What’s tough is making lots of money, AND managing to keep it. </li></ul><ul><li>Be careful of Forex “systems” with unrealistic propositions that claim to consistently make 300 or more pips a day. Pay attention to the biggest losses that the “system” suffers from. A system that makes you 300 pips a day could very well lose you 500 pips in the next! </li></ul><ul><li>All reliable trading systems will have relatively low drawdown figures. You can’t be a profitable trader if your losses are too large. Remember, even if a “trading system” enjoys a high-winning probability, it can still be an overall losing system if the losses are large enough. </li></ul>
  4. 4. Issue #2 – Is the track record simulated? <ul><li>Even systems with the ‘best’ track records are essentially useless if the track records are simulated. </li></ul><ul><li>Simulated track records are easy to ‘manufacture’, since everyone already knows what has happened in the past. For example, if I know that the EUR/USD currency pair shot up 300 pips yesterday, it would be easy for me to come up with a ‘trading system’ that can make me 300 pips in only 1 day… I just have to test it using yesterday’s data! </li></ul><ul><li>The true acid test for a profitable system would be to test it using live market data. So try and look for a real track record for any trading system before purchasing one. </li></ul>
  5. 5. To Learn More… <ul><li>Get your copy of this 26-page report, ‘ Forex Trading Traps!’ </li></ul>

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