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Whats your opinion on the most important aspects of a trading system
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Pr3ttii

Member Since Jun 24, 2020  4 posts Pr3ttii Jun 28 at 02:01
Most important thing is statistics and logging everything you do and its results so you can see areas of optimization. Rather than trying to force your SL/TP (RR/DD) on the market. Statistics (logging each trade with as many data points of reference as you can gather and comparing results) will tell you everything you need to know on how your strategy will survive in the long-run, what factors you can stretch and still profit, etc. Believe in statistics because that is actually how the market works.

Day after day the market will pay
marco_mmbiz

Member Since Jul 20, 2019  169 posts marco_mmbiz Jul 01 at 13:54
kc8yty posted:

Sharp ratio?
RR/DD?
Profit factor?
Expectancy ?
Stagnation?
Z score?

Or combinations


Here's my suggestion when having a look for systems on Myfxbook:

1. Broker:
Is the connected broker reliable? Is the broker well-known and regulated by good regulators (like FCA, BaFin, FinMa, IFSC, NFA, ASIC (only for Australian traders!), ICB, ...). Keep in mind: VFSC and FSA are not regulators for international brokers (it's just a company license not a regulator's license)!
Why? Because there might be some faked results being shown on the connected myfxbook system pages. Brokers come and go, they can be just created to show fake (to good to be true) results to possible clients and to scam them with faked EAs or PAMMs at the end.
Another good question could be: Is the system working with other (good) brokers aswell? or: Can the system really work with my already used broker?

2. Drawdown:
The max. account drawdown needs to be lower than 20%. If it's higher than 20% the system creator should definitely can explain it, like with a short spike, a testing period at the beginning (with a small deposit) or something like that. Also have a look on the DD charts by yourself, not only on the number on the left side of the system (click on custom analysis and check the 'open time' box in 'timing' for a better analysis).

3. History:
Have a look on the history, to get to know if the system creator is using only low risk (low lot sizes and not much trades per day if no SL/TP is being used, or a good/low SL if higher lot-sizes are being used).

That's it. All the other numbers are not really interesting, just showing you how your results could be if you'd use the exact same system/deposit/trades/broker etc.

patience is the key
VabenMaria

Member Since Jun 08, 2020  24 posts Maria Vaben (VabenMaria) Jul 02 at 05:35
make your OWN opinion and your OWN rules.
everything else is not for you.
One can not make a discovery by reading already printed material ..

Follow Five P's Principals
MP_89

Member Since Oct 07, 2019  30 posts MP_89 Jul 02 at 13:25 (edited Jul 02 at 13:25 )
VabenMaria posted:
make your OWN opinion and your OWN rules.
everything else is not for you.
One can not make a discovery by reading already printed material ..


so true. i read a lot of material, but pointless. even demo doesn't help

damunwa

Member Since Oct 23, 2019  5 posts PipRaider (damunwa) Jul 02 at 13:31
Two things will point north to any trading journey.
 1. Live trade
 2. Lower your Lot size
Never give up your quest. There is a wonderful lifestyle at the end of your trading journey but it will take 10,000 hours...

TDL1970

Member Since Apr 06, 2020  2 posts TDL1970 Jul 02 at 13:38
It shouldn't take 10,000 hours to become profitable.....

But...before you think I am trolling you PipRaider, I do understand the philosophy behind your reasoning! Also, I am not advocating 'Don't study' either.

I could teach most people to read and understand a chart with simple support and resistance and a couple of other useful little niblets of advice in about a week.

Psychology and risk management are way more important to becoming a successful trader. Just my take on it :-)

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