Forex
Trading System: What Does It Take to Create a Successful Forex Day
Trading System?
Want to Day Trade the Forex Market but not be glued to the
quote machine all day? Forex trading systems do work you just have to
be realistic about it.
Having gone into day trading forex I demo traded
it
for 10 months. 10 months before I was happy about my method.I went from
trading 30
second charts, to 4 hours charts. Both have pro's and
cons. From scalping for a few sure pips to trend following
of the
odd 150+ pip move.
Both had good and very bad points. (here's aquick free tip:
you can't successfully scalp forex from home due to brokers slippage.
You get filled 3 pips worse off each way. Anythign less than 20 pips
per trade means you are lucky to break even. The banks can do it as
they are trading fee-less. We can't. Just saved you A LOT OF
UNHAPPINESS) But
eventually I created my FOREX TRADING system that fitted what I wanted
from an intra
day system. Most people demo trade for a few weeks before jumping
in. It's crazy. Systems take time, effort, and knoweldge to create.
It's not something that can be rushed. Anyone who treid to
create a system from scratch knows what I am talking about.
I
nailed the forex trading system I am happy about. What kind of
returns are
possible? Much of it depends on the risk you want to take. I never risk
more than 1.5% of my portfolio on one trade. The returns are not as
big but the account grows more steadily. My aim is low risk, steady
monthly
profits. I am more than happy with 2% to 8% gains per
month with a couple of -2% to -6% losing months per year. Or about 40%
to 50% per annum. Especially when this is achieved
passively. And I never want to suffer more than 15% drawdown
in
my portfolio. Anything more is too much of a
gamble for me. Do other vendors even talk about losses and drawdowns?
Do they even know what it means? Forex trading systems must cope with
losses as well.
There's no point in a forex trading system making 15% one month only to
have a couple of 10%+
losing months. When you see big, crazy claims like this I know the
system (even if it is legit.) will have HUGE drawdowns (60%+) and that
my
friend is a disaster waiting to happen. Could you seriously keep
trading a system that has lsot you over 60% of your money? No-one can.
I
have seen some amazing claims made by many forex trading systems on the
Net:
Easily make 30% per month...make $2 Million dollars, 400%
per
annum. It simply cannot be done unless you gamble and are lucky. You'd
be better
off going to Vegas and betting it on all on "black." They are
simply lying to get a sale from you.
My intra day forex trading system is a low risk, build wealth
slow method. If you can make 50% per annum..you have everything you
need to build as much wealth as you desire. Think about it and do some
math.
Any interest in this? Subsribe to my
one a week
newsletter where I will show you how man pips the system has
made or lost the past week.
My 15 Minute Forex Trading System:
Clcik Here
Regards
Mark Crisp