What Is The Best Forex System Trading Program?

What Is The Best Forex System Trading Program? What is the best forex system trading available? Is there a best trading system? What kind of systems are there? What is a system anyway? What System Trading Is Before we can even start the search for the best forex system trading program available, we have to know what system trading is. Otherwise, how would you know what you re looking for, and on what basis are you going to measure what you find? What is system trading anyway? System trading is the concept of having a preset of rules that defines as much of your trading as possible. These rules include the following areas of: Entry Rules Exit Rules Portfolio Risk Rules ( Money Management ) Compounding Rules Scaling In/Out Rules When Not To Trade Rules And Other Criteria By following predetermined rules, you don t have to re-think each time a particular situation comes up in the markets. The idea of having rules is to remove as much trader discretion as possible to the point where trading can be automated. Types of Systems While there are various types of systems, they all fall into pretty much the same broad categories. These categories are: Trend Following Systems Counter-Trend Trading Systems If you ve already studied trading for some time, you ll realize that each particular category has its own share of advantages and disadvantages. There will be times when Trend Following Systems make huge profits because the markets are consistently trending. But the moment markets stop trending and start consolidating, then trend-following systems tend to get whipsawed, creating more losers than winners. On the other hand, Counter-Trend Trading Systems experience more losers when markets are trending. This is because by nature, counter-trend trading systems attempt to pick tops and bottoms within consolidating markets. But when markets consolidate, counter-trend trading systems excel in making short term, quick profits in sometimes almost rapid succession. Choosing A Forex System To Trade Ultimately, there is NO BEST Forex System Trading Program. It depends on what you want to accomplish with your trading. If you already have a trend following system, you might want to diversify part of your trading capital into a counter-trend trading system, and vice versa. The rule of thumb, again, is always manage your money with your eye on RISK first, before returns. Wishing You Smart and Profitable Trading! Ryan Lee Daniels Smart Trading For Profits The Forex Trading Education Blog Site