Forex Trading Method - Building your Own System for Free

By: Sacha Tarkovsky

There are a lot of forex trading systems sold on the net and most of them won't make you money.

If traders want a system why not build your own? Let's look at this concept and a potential system.

If you check our other articles we have put out a free system with just basic support and resistance and two indicators and indicated some trading opportunities to look at.

This is why we like the method and the advantages apply to any method.

1. it's simple to understand

The concept of breakouts is easy to understand as to is the concept of standard deviation of price and momentum via the stochastic.

Because the logic is so simple to understand it means you can have confidence in it and that is essential for applying the method.

If you cannot apply your method with discipline through losing periods you don't have a method in the first place.

2. Its robust

It's just three separate visual components to look at.

People make the mistake of thinking the more complicated a method the more likely it is to work in trading the opposite is true.

The more complicated a system is the more likely it is to break.

3. It can trade long term or swing trade

You can use it for long term trend following or shorter term swing trading and isolate great risk reward trades.

4. It acts on confirmation

It doesn't act in advance it gives you confirmation. Many traders like to get in on the action before confirmation to buy the bottom or sell the top.

This is a major reason traders lose they can't resist predicting what may happen rather than waiting for it to happen.

This way of trading may not be comfortable for everyone as its not totally mechanical, you need to look and decide on the best set ups.

Some traders like mechanical systems others like us like to think and pull the trigger ourselves this is just a personal preference.

The system above is an example it works for me but may not work for others as it has manual input and many traders don't like that, but there is more than one way to make money.

The real point in this article I am trying to make is you can actually build your own system for free if you do a bit of research - its a lot easier than many traders think.

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