The PC on your desk has far more processing power than Mission Control Houston which landed man on the moon and with the speed, at which we can test systems today, mathematicians apply complex theories for bigger gains but which are the best theories and systems?...
Before we start lets contrast some data in relation to winners and losers in the forex market. 50 years ago before we had PC's and the Internet 95% of traders lost and today, the ratio is the same.
Think About This
This is despite the vast strides we have made in technology and the conclusion is obvious - it hasn't helped increase the ratio of winners.
Markets are Based on Odds of Success Not Certainties
The reason for this is simply prices DON'T move to a mathematical formula, forex markets are an odds based game only. You are dealing with probabilities NOT certainties.
There are many clever people out there who will tell you, they have found the way to predict market movement - but if there was such a theory they wouldn't tell you about it (they would be making to much money) and of course there isn't one; also If there was, we would all know the price in advance and there would be no market - obvious really.
The people who claim there is, are simply presenting back tested theories, simulated and in hindsight to prove their point - but that means nothing. Anyone can make money, if they know the closing prices but you have to trade forward!
TO WIN YOU NEED TO DO THIS!
As part of your essential forex education, forget about being complicated the markets will not reward you.
The best forex trading systems are simple and robust, complicated ones have to many elements to break.
Getting a robust forex trading system is only part of the equation for success; you have to play the odds and this means you are going to look stupid at times and have to take periods of losses.
Anyone who tells you that you don't is wrong.
Even the best traders in the world take many weeks of losses but they still win.
They win because they have the confidence in their system to ride out the period of losses and lead them to success - it is the discipline to keep losses small and run profits, with strict money management which is the key to currency trading success.
Today, most traders look to forex robots to lead them to success but most are sold on hype of a back tested track record and are doomed to failure. Saw one which claimed it had been worked out by a maths whiz kid well, that's no recommendation or guarantee of success!
Forex trading is simple, many traders make it more complicated than it really is and if they looked at the facts, they would see the reality which is:
A simple forex trading strategy, you have confidence in and can apply with discipline is the key to success in forex trading.
Before we start lets contrast some data in relation to winners and losers in the forex market. 50 years ago before we had PC's and the Internet 95% of traders lost and today, the ratio is the same.
Think About This
This is despite the vast strides we have made in technology and the conclusion is obvious - it hasn't helped increase the ratio of winners.
Markets are Based on Odds of Success Not Certainties
The reason for this is simply prices DON'T move to a mathematical formula, forex markets are an odds based game only. You are dealing with probabilities NOT certainties.
There are many clever people out there who will tell you, they have found the way to predict market movement - but if there was such a theory they wouldn't tell you about it (they would be making to much money) and of course there isn't one; also If there was, we would all know the price in advance and there would be no market - obvious really.
The people who claim there is, are simply presenting back tested theories, simulated and in hindsight to prove their point - but that means nothing. Anyone can make money, if they know the closing prices but you have to trade forward!
TO WIN YOU NEED TO DO THIS!
As part of your essential forex education, forget about being complicated the markets will not reward you.
The best forex trading systems are simple and robust, complicated ones have to many elements to break.
Getting a robust forex trading system is only part of the equation for success; you have to play the odds and this means you are going to look stupid at times and have to take periods of losses.
Anyone who tells you that you don't is wrong.
Even the best traders in the world take many weeks of losses but they still win.
They win because they have the confidence in their system to ride out the period of losses and lead them to success - it is the discipline to keep losses small and run profits, with strict money management which is the key to currency trading success.
Today, most traders look to forex robots to lead them to success but most are sold on hype of a back tested track record and are doomed to failure. Saw one which claimed it had been worked out by a maths whiz kid well, that's no recommendation or guarantee of success!
Forex trading is simple, many traders make it more complicated than it really is and if they looked at the facts, they would see the reality which is:
A simple forex trading strategy, you have confidence in and can apply with discipline is the key to success in forex trading.
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