If you want to start forex trading, you need a good broker first. Do the demo practice under the broker. You have to learn a lot. You have to practice the demo for at least 6 months. You need to learn trading online or from a mentor while practicing the demo. And when you see that you are making a self-sufficient profit in demo trading, then you will join real trading. Always try to trade according to the plan with patience.
thank you for the reply um AliaDare , but that did not answer the question really, aside from account balance what stat values do you use to judge a system and then why, are there ways to say yeah the system is profitable but these two or three stats suck so work on the system more.. and here is why these are important... if the overall stats of a system is subjective, and its really just two factors the price and the balance you end with, then whats the point of this site?
As long as you are making consistent profit, nothing wrong in your trading system. What works for you may not work for and vice versa. Just try to discipline in your trading. And keep a realistic profit goals.
Thank you for your reply, true indeed, i have always believed in developing my own system that fits my personality. I dont want my chart to look like an EKG with to many overlays that was first. Second was that i wanted to have a daily routine. so i went with using the 15min and Daily as my two main... with trades being opened on and closed off of the 15min.. with daily to get a gist on where the mass of men are going... realistic profits have been a little tough... part of me says trade until i am done with the day win or lose, like a normal work day, other parts of me say trade to a specific profit or loss point and then walk away... so trade until i lose 2% or win 2% something like that.. the toughest part for me right now is keeping to the trade sizes i setup in the rules i made... i overtrade on that part.... so if my system says trade 880 units i might do that but later in the day do something like 8800 units just for the heck of it... and that is where i lose the most money, stat wise i have been looking at the %wins and profit factor as well as the balance of course.. i figure if i keep percent wins over 60% i might be ok.. but if i keep overtrading on the size then even at 60% that 4 or 5 trades will wipe out what i made the past 4 days in a heart beat
Dude, it's all about your risk management. If your Risk:Reward ratio is too heavy on the Risk side, then you will outdo your success rate's gains very easily (as you have observed). Read van Tharpe. Ideally you want an R:R of 1:2. This means you could lose 50% of the time and break even. Also note this means you have to have strict Stop Loss analysis and calculate your position according to your Stop Loss and your overall Risk, per trade, of your capital (aka The 2% Rule). Do not, ever, calculate your position size based on what you want to gain.
You need a structured and disciplined calculation system. In doing so you will also be able to get a sense of what stats work for your trading style.
WARNUNG VOR HOHEM RISIKO: Der Devisenhandel birgt ein hohes Risiko, das möglicherweise nicht für alle Anleger geeignet ist.
Der Einsatz von Leverage schafft zusätzliches Risiko und Verlustgefahr. Bevor Sie sich für den Devisenhandel entscheiden, sollten Sie Ihre Anlageziele, Ihr Erfahrungsniveau und Ihre Risikotoleranz sorgfältig prüfen.
Sie könnten Ihre ursprüngliche Investition teilweise oder ganz verlieren. Investieren Sie kein Geld, das Sie sich nicht leisten können, zu verlieren. Informieren Sie sich über die mit dem Devisenhandel verbundenen Risiken und lassen Sie sich von einem unabhängigen Finanz- oder Steuerberater beraten, wenn Sie Fragen haben.
Alle Daten und Informationen werden ausschließlich zu Informationszwecken bereitgestellt und sind nicht für Handelszwecke oder Beratung gedacht.
Die vergangene Performance ist kein Indikator für zukünftige Ergebnisse.