No matter where you turn, there is a trader wondering
what the best forex systems are. I for one am not a big of the word system. The problem
I have with the word is that it infers a mechanical trading style.
When I think of a "system", I envision a chart which
is flooded with every indicator that you can think of. You know...
the usuals (moving averages, MACD, RSI, Stochastics, etc..)
These systems always consist of generic rules such as
buy when the stochastics are showing oversold and the MACD is showing positive price divergence.
Sell when stocks are overbought and the MACD is showing negative price divergence.
I know people enjoy using these tools, but quite
frankly what do they have to do with trading? You are not trading the market. You are trading
It's kind of like saying "let's not pay attention to
what the market is doing. Let's pay attention to what my indicators are doing." You
could see how this could be a deterrent to your success.
You have to understand that the forex
market (or any trading market) is not mechanical. The trader can't just shut off
his brain and follow the indicators blindly. There has to be some analysis being
done by the trader.
If the markets were this mechanical, you would see a
much higher success rate. Right now, only 5% of forex traders make money. If the
markets could be traded mechanically with a forex system, then more people would be seeing
success. Because after all, the system is the same, so it's not dependent on the
My entire point is that you really should
learn forex trading. Learn the ins and outs and the nuances of
the market. This has to start with the analysis of price action and price
The moment you can get rid of your indicators is
the day that you can call yourself a trader. Start today by doing some naked trading. Remove all of your indicators.