A successful forex trading system
A successful trading strategy, system or methodology has one important requirement: it should have an edge.
An edge exists where the odds are in your favour that someone will enter the market and act in a way that will make your trade succeed. An edge ensures that you have a statistically positive chance of success over a number of trades. Make sure you know about probability in forex trading.
Where most traders bite the dust, is that they evaluate their success over one or two trades. The less trades you use to evaluate your success, the higher the chance that you will fail. The more trades you use in your evaluation, the better your chances of success.
There are as many strategies as there are traders because every trader adds his own preferences to a trading strategy. We list a number of basic forex strategies on this site. Keep in mind: a successful trading methodology does not mean that it succeeds every single trade. It means that it it has a positive result over a number of trades. You will only make profit if you are professional, and to trade professionally means you have to trade successfully most of the time.
Your forex trading strategy with an edge will ensure success, if you can overcome the trader’s curse: deviating from your strategy because you think you know what the market is going to do.