Best Forex Trading System

Are you looking for the best Forex trading system that is currently available in the market? If so, you might want to pump the brakes a bit. In my opinion, there isn't really an undisputed "best" system out there. There are good systems and even some great ones, but there isn't an undisputed king of systems just yet. Here are a few things for you to consider about trying to find the perfect system.

Hype

If you are buying a commercial product in the Forex market, there is a high likelihood that you will be disappointed. The vast majority of products in the market are totally bogus. I'm sorry, but that's simply the way it is. For every 100 products that are put out, there are maybe two or three that could actually make you money. Maybe less than 1 out of 100 can make money over the long-term. This can be extremely discouraging for rookies who are just getting started in the market.

best forex trading system

They see an ad about making 300% per day or something crazy and think that "This time, it's gonna work!"

Then they put all of their savings into it and the best Forex trading system of the week ends up losing everything. This is what leads many people to believe that the Forex market is just a scam.

Flaws

Regardless of what system you choose, there will be some flaws with it. Every piece of software and every manual system has a few glitches here and there. You basically have to live with and learn how to deal with it.

Realistic Expectations

When you are reading a sales letter or reading about a particular trading system, it is best if you can use realistic expectations. Instead of trying to replicate exactly what the sales letter says the software can do, imagine what you could do with 5% of that. If the number is still attractive, then you might be on to something. While you could potentially be much better than 5%, this will give you a realistic goal to shoot for. This way, if you do not become a millionaire overnight, you will not be too disappointed. 

Money Management System

When trying to choose the best Forex trading system, you need to pay special attention to the money management rules. This is especially true with manual systems. It doesn't matter how great the trading strategy is, if you do not have money management rules in place, you will lose money. You could win 10 trades in a row and only lose one, but if the one loser is bigger than all the 10 winners combined, you're still losing money. Try to pay your mortgage with winning Forex trades...I bet it won't work.

Holy Grail

Everyone and their brother is out there looking for the holy Grail of Forex systems. They cross the invisible bridge, fight the knight and then try to drink from the Cup of Christ to get the system that's actually going to work. (Not really, but I think you get the idea).

I'm going to go ahead and save you some time. THERE IS NO HOLY GRAIL IN FOREX. Just like there is no crying in baseball, there is no Holy Grail in Forex. There are some great systems and some great brokers out there to work with. But if you put all of your hopes and dreams on one of them to make you rich, you're going to end up sad.

Just go into this thing with realistic expectations and treat it like you would any other job. It's a means to an end. It can be a very lucrative means to an end, but it is simply a tool. Keep that in mind and you will do much better in this market.

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