How to build up a trading system

[abeabe_1]

Hi all, I am new to trading. After long time following other's advices, I finally decide to set up my own trading system, but feel confused of how and where to start. Can I get some indications from the forum? By the way, as I know, some trading system is very complicated while some is simple. Is the complicated one better than simple one? Sincerely looking forward to the reply.

 

[lbranjord]

Most will say that simpler systems are better.

As a new trader, you will probably try every system once so I'd just get out there and start eliminating them. You'll likely go through losing cycles with all of them for awhile and then you may start winning, which will be because of you, not the system.

Best place to go for all the basics that I've found is www.babypips.com. Sometimes I still go back and visit it to get in touch with the basics when I feel I'm overcomplicating things.

 

[Jason101]

I agree that simple is best, this will allow you to concentrate on the most important things like self discipline and money management. A good start would be to choose your time frame. I think the longer the better when first starting out.

 

[lbranjord]

Most will say that simpler systems are better.

As a new trader, you will probably try every system once so I'd just get out there and start eliminating them. You'll likely go through losing cycles with all of them for awhile and then you may start winning, which will be because of you, not the system.

Best place to go for all the basics that I've found is www.babypips.com. Sometimes I still go back and visit it to get in touch with the basics when I feel I'm overcomplicating things.

I have to add to this, don't go trying to trade with the 'it's so easy it's ridiculous' system they show you in their teachings because it's a losing model. The information otherwise is good.

When I still had fuzz on my horns I thought that because the website was so great and the explanation made sense, the system was a winner. It's not. It's a habitual loser/break even at bester.

 

[jiggly]

Hi all, I am new to trading. After long time following other's advices, I finally decide to set up my own trading system,

Who's advice was you actually taking, the majority of the 'experienced' people will tell you from the beginning that you need to have your own trading system.

but feel confused of how and where to start. Can I get some indications from the forum?

yes, the forum is full of indications {hint, hint, ahem search}
the three pillars of trading are : mind, method, money management

By the way, as I know, some trading system is very complicated while some is simple. Is the complicated one better than simple one? Sincerely looking forward to the reply.

things should be made as simple as possible, any simpler will just make it stupid.

my responses in bold

 

[PipMuncher]

Buy low sell high (or vice versa) - best trading system in the world

 

[lbranjord]

Buy low sell high (or vice versa) - best trading system in the world

As much as heard it, I never applied it. Once I did, I was happy

My systems that follow trend can never catch up to those that play the range. But I'm working on that. It's like being a pitcher who can only throw a curve ball.

 

[PipMuncher]

As much as heard it, I never applied it. Once I did, I was happy

My systems that follow trend can never catch up to those that play the range. But I'm working on that. It's like being a pitcher who can only throw a curve ball.

Do you think that the time frames your inclined to trade have any bearing on if your better of following range bound or trending makets or even tradng the break?

 

[Sang Froid]

Buy low sell high (or vice versa) - best trading system in the world

What's high and what's low? Is cable high or low at the minute? Where will the up trend end? When will it end?

Buy low, sell high, so easy to say, so very very difficult to do. What about buy high sell higher

 

[SanMiguel]

Most will say that simpler systems are better.

As a new trader, you will probably try every system once so I'd just get out there and start eliminating them. You'll likely go through losing cycles with all of them for awhile and then you may start winning, which will be because of you, not the system.

Best place to go for all the basics that I've found is www.babypips.com. Sometimes I still go back and visit it to get in touch with the basics when I feel I'm overcomplicating things.

You will try every system once and then settle for darksiding

 

[lbranjord]

Do you think that the time frames your inclined to trade have any bearing on if your better of following range bound or trending makets or even tradng the break?

My trades usually revolve around some level being decided on a higher time frame and then actually trading it on a lower time frame. I'd say yes, time frame decides my success. I couldn't do it without having both. I don't do breakouts though. Had a tough time with them. I prefer a good ol' bounce.

 

[lbranjord]

You will try every system once and then settle for darksiding

darksiding? does that involve a sacrifice?

 

[willpalazzi]

The well-known forex guru - said the 200 ema is the moving average that is used the most by traders. So if most traders are using the 200 ema, then I think that makes it important.