If you know much about me and what I try to do with Forex4Noobs you know that my ethos is to keep trading simple.
Last week I spoke to a newbie who is having a tough time finding consistency in his trading. This newbie went on to tell me that he is trading four systems/methods and not a single one is working…
You can probably guess what I told said to him.
KEEP IT SIMPLE!
KEEP IT SIMPLE!
KEEP IT SIMPLE!
Especially as a newbie you need to keep your trading simple. Trying to juggle multiple trading systems/methods makes your trading complicated.
If you want to succeed in the easiest and quickest way possible you need to simplify your trading. So if you’re trading multiple systems/methods and are struggling pick your best performing system/method and trade it exclusively for 2 months. If you find the system/method you choose does not perform well consistently move on to another one. However, do not complicate your trading by using more than one method/system at a time.
John Bull6
On the money as usual!!
hickh
Yea man! Messed up my trading for a long time!! If you do like Nick says here, then after a couple of months of fair success, you could start playing with finding something which compliments what you are doing. But it must compliment it and not go against it(this should be an obvious must). There is no faster way to lose your money than to have two signals where one says buy and the other says sell.
tradeforex4freedom
Hi I found your blog through keyword trade forex for freedom.
Your design is simple, crisp and straight to the bone. Making readers zone in on the post ideas. With regards to your idea on keeping it simple. I concurred. Sometimes newbies are eager to make money trading forex that they forget the professional don’t look for trades. They wait for trades to shout at them. They are like snipers waiting for their bait and all they do is to have just one shot.
New traders tend to look for trades so if one system miss the big candle that flash infront of them they will find another system that will take note of this one missed. Little do they know there are tonnes of patterns market will produce throughout the year. How many patterns or probability they wish to find the systems to match.
Regards
David Aw