It’s funny how, in this crazy world of Forex; success seems so close… yet so far away. Do you get frustrated why you buy a Forex system – and it seems like a “re-hash” of something you’ve seen before?
Well, if I may ask you a question… What are you expecting in a “new” Forex system?
Are you expecting some revolutionary, latest-technology, never-before-seen system like you’ve never seen before?
If so, then you may have a long time to wait before you finally start getting success in Forex.
Here’s a shocking secret that no one tells you:
The principles, concepts and strategies that MAKE MONEY in Forex are almost all “dull”, “boring” and “old”.
It’s absolutely true! Why do you think you keep hearing about “trading with the trend”? Because it increases the probability of any trade you take working out.
Did the last system you checked out look like all it did was trade pullbacks in a trend? Well, you know, trading a pullback (as opposed to a breakout) increases the probabilities again. There’s a reason that the systems you’ve seen before trade pullbacks into trends – it’s because that’s what works!
But perhaps there is something else missing; if you’ve traded a system like this – but still don’t have the Forex trading success you desire. Okay, I can’t tell if the system you’re trading is solid or not (hopefully what I’ve written so far should help you figure out if it is or not), but there is a good chance that your lack of success stems from one or both of the following:
#1 – Not trading the system for long enough.
If you’re trading a system, and it does not go well in the first week, do you stop trading it? You have to give a system a chance. In trading, having a bad week (no matter how good the system), if to be expected!. Trade on demo for a while if you’re not totally comfortable with a system at the start.
#2 – Not Having Strict Rules
Even with a system that only trades pullbacks in a trend; you’ll still get more trade setups that you know what to do with. Every pullback is different; some are higher-probability than others. Taking every pullback is a route to the poor-house!
You need to make sure you’re filtering out the less good trade setups with a strict set of rules. Take a look back at your previous systems. Can you see if they have the attributes of a solid system? Perhaps that system you bought last year is actually a money-maker – just waiting for you to trade it!
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