Best Forex System

KarmaSenge

Newbie
8 0
Hey all,

I am sure that this question has been asked before so don't kill me or anything, but what is a really good system on trading Forex? I am not talking about basic crap like what a MACD is, or MVA's are, are what a candlestick is. I am past that basic stuff.

What I'm looking for is a system that may use those things that is put together in a cohesive system that is consistently profitable that I can learn, practice, then run with.

What are your recommendation? Don't care if I have to pay for it, but would prefer free or really cheap.

Thanks,
Karma
 

alexaherself

Established member
560 149
There isn't one objective "best forex system".

Systems are not "consistently profitable". Traders are. A system that's profitable for one person may well not be, for another.

If you're "past all that basic stuff", then you've learned, by this stage, that becoming consistently profitable involves gradually amassing and filtering experience, so you can develop something that suits your own trading style, motivation and capabilities, rather than just trying slavishly to "copy something that works"? ;)

Here are two books I strongly recommend (neither is exclusively about forex - they're both "general trading books" which I found particularly helpful, as a forex trader, myself) ... both available from Amazon, neither is expensive, both are outstandingly good value and they complement each other particularly well ...

http://www.amazon.co.uk/Beyond-Technical-Analysis-Develop-Implement/dp/0471415677/ ("18 new from £37" - not that cheap, actually, but still excellent value)

http://www.amazon.co.uk/Trade-Your-Way-Financial-Freedom/dp/007147871X/

Each contains a huge amount of useful, practically-orientated information. I'd suggest that you don't trade with real money before reading each of them a couple of times. It will save you a fortune.

Just my perspective.
 

timsk

Legendary member
7,612 2,383
. . . What I'm looking for is a system that is consistently profitable that I can learn, practice, then run with.

. . . Don't care if I have to pay for it, but would prefer free or really cheap.

Hi Karma,
Without exception, every single person that ever decided to try their hand at this game started out by looking for a consistently profitable system that is cheap as chips to buy or, better still, free. If you're past the basics, then you'll know that you're chasing the mythical pot of gold at the end of the rainbow. It doesn't exist!

The only 'free' system that meets your requirements is the one you develop yourself. Even then, the cost is likely to be huge, not in terms of money spent necessarily, but in terms of time and effort invested. So, I recommend you follow Alexa's sound advice, above. If you want to be guided by someone else and start off by learning what they do, then you could consider joining a proprietary trading firm. Be careful if you go down this road though, as there are rogues out there - caveat emptor etc.

Sorry if this isn't what you wanted to hear!
;)
Tim.
 

Fugazsy

Veteren member
3,661 677
There isn't one objective "best forex system".

Systems are not "consistently profitable". Traders are. A system that's profitable for one person may well not be, for another.

If you're "past all that basic stuff", then you've learned, by this stage, that becoming consistently profitable involves gradually amassing and filtering experience, so you can develop something that suits your own trading style, motivation and capabilities, rather than just trying slavishly to "copy something that works"? ;)

Here are two books I strongly recommend (neither is exclusively about forex - they're both "general trading books" which I found particularly helpful, as a forex trader, myself) ... both available from Amazon, neither is expensive, both are outstandingly good value and they complement each other particularly well ...

http://www.amazon.co.uk/Beyond-Technical-Analysis-Develop-Implement/dp/0471415677/ ("18 new from £37" - not that cheap, actually, but still excellent value)

http://www.amazon.co.uk/Trade-Your-Way-Financial-Freedom/dp/007147871X/

Each contains a huge amount of useful, practically-orientated information. I'd suggest that you don't trade with real money before reading each of them a couple of times. It will save you a fortune.

Just my perspective.

This lady is a great contributor to this forum, clear, effective and incisive.... she always speaks with her heart......

More girls.....please, of this calibre of course.....
 
Last edited:
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0007

Senior member
2,376 663
Some excellent advice in the previous posts. You'll probably find that the weakest link in any system is yourself, so my suggestion is to take a system, any system, and trade it preferably on paper. You may well find shortcomings in the system but you will also identify your own shortcomings. Once you've been able to do that and made a good stab at overcoming them you will then realise that as a half decent trader you can make money with almost any reasonable system.
 
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0007

Senior member
2,376 663
This lady is a great contributor to this forum, clear, effective and incisive.... she always speaks with her heart......

More girls.....please, of this calibre of course.....


I'll second that. There must be loads of potential lady traders not yet active. When you look at women in business and especially those running companies you start to realise how good some of them are. Women having the proper opportunity to participate in the workplace still has some way to go but there have been enormous strides in recent times – first time that happened was 100 years ago during World War I wasn't it?
 
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Nader Trader

Newbie
7 0
The best forex software would be in my point of view is vertexfx, really after trying most of the platforms i found it the best one as it support the auto trading in a perfect way(EA's, Robots and Charting).
 

fxstrategist

Established member
604 17
The thing with trading systems is that they all fail at one point, therefore, a trader must be savvy enough to identify the situations where the system fails and make adjustments. It does not neccessarily mean that you have to throw the system out the window, but make some adjustments to it.
 

fx turtle

Junior member
43 7
Keep in mind that no best forex system (in terms of entries and exits) will help you make consistent profit if you do not take care of the most important aspect of trading. Risk Management.

Excellent risk management will ALWAYS save the day when the going is rough.

Cheers,
FxTurtle

Hey all,

I am sure that this question has been asked before so don't kill me or anything, but what is a really good system on trading Forex? I am not talking about basic crap like what a MACD is, or MVA's are, are what a candlestick is. I am past that basic stuff.

What I'm looking for is a system that may use those things that is put together in a cohesive system that is consistently profitable that I can learn, practice, then run with.

What are your recommendation? Don't care if I have to pay for it, but would prefer free or really cheap.

Thanks,
Karma
 
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Reactions: sun11

ph_trader

Well-known member
426 6
we do need more female traders, not to sound so sexist, but i firmly belive that women might as well do better than man in this kind of field. :) thanks for the share
 

sun11

Experienced member
1,474 337
Keep in mind that no best forex system (in terms of entries and exits) will help you make consistent profit if you do not take care of the most important aspect of trading. Risk Management.

Excellent risk management will ALWAYS save the day when the going is rough.

Cheers,
FxTurtle

You are right RR ratio matters a lot.
Even with 30% win rate & 1:5 Risk reward ratio, one can still win.

You will find your best forex strategy, when you will design it by yourself, applying all of your experience & knowledge, most importantly adding emotional compatibility (Risk appetite) with it.
 

bredin

Member
80 20
Youre not past the basics, from the OP.

Youve been caught in the trap of thinking that indicators are basic.

They are not.

They are Junk.

You know the basics if you can answer this question:

"What makes a market move?"

B.
 
 
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