How do I choose a forex trading system?

[styla786]

I am looking for a good trading system that actually works. Can someone point me in the right direction please?

[datamonkey]

That's a million dollar question and really depends on what style you prefer? Scalping, day trades?

[realFXpips]

Originally Posted by styla786

I am looking for a good trading system that actually works. Can someone point me in the right direction please?

If there was one that worked, packaged and ready to
be picked up, the market would have disappeared long
ago. What you should be looking for is some strategy
that would enable you to make some sense out of the mix
of market news and complex price movements that fairly
follow regular patterns. How much sense you make of
these factors depends on your mindset and discipline to
act only on what the market is sincerely showing you and
not what you earnestly want the market to show you.

Hope this helps.

[Mr.P]

I don't have definite answers for your question, but you have to look around. Do a lot of research, back-testing, forward testing and be prepared for unexpected to happen on a daily basis. Markets are just reflection of our minds, fears and desires, to quantify that and package in a trading system is a really serious task.

[sanshik]

there is a blog called duyduy, there you will find tests and back tests of many EAs and trading systems, there are millions of forex systems and expert advisors so it's not easy to choose.

[shirley.williams]

Find a system that is pure simplicity. You want a system that you can easily understand. You want it to be practical as well as innovative in showing you how to work within the market. And it should teach you all of that in an easy to comprehend manner.

[shirley.williams]

When trying to find the best Forex trading system, an individual needs to do a thorough amount of research. When an opportunity presents itself, a trader should try to find out as much information as they can about a particular system.

[garrin]

Hello,


I know that some systems work best in trading ranges and others in trends, so taking that into account, what would you say is a good score for successful signals coming from a system. I had a nose around some of these 'black box' services like (Goldline and SpiderTrade etc) and was shocked to discover that there signals were only slightly better than 50%. I always assumed a good system would have to have 70+% correct signals. So is this wrong?

With tight money/risk management can you succeed with a system with less than 60% correct calls. With the systems you guys use or have developed, what is the win/lose percentage?

Is the most important factor the profit/loss percentage per trade rather than the win/lose? So if I gain 3 times more profit than I lose I could succeed with a trading system that gives less than 1/3 correct signals


Thanks!
____________________

[ForexCent]

Just use EMA21 and EMA55. you will notice - those are often Support levels. Buy from EMA21 if trend go up. Use stop loss. Create some your own statistics and then you will be able to create your own trading strategy.
Do not use to many indicators, usually 0-3 is enough.

[Tradicator]

What works for someone else may not work for you. It's best to do your research and test. There is no one size fits all. I compare a lot of systems and post updated reviews on my site.