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

KnowFinance posted:
I believe that a trading plan is the most important aspect in trading. Anything done with a proper plan helps in achieving the targets and goals.

Yes, a good plan in hand helps a trader to be more focused and more confident than trading. Its always better to follow a planned approach, along with proper risk management, patience and discipline.

I feel, the most important aspect in forex trading is devoting time to the market. Make sure you devote a few hours to the market each day. This is the only way you can learn about the market. If you are knowledgeable enough, then trading will be more beneficial for you in the long run.

KnowFinance posted:
I believe that a trading plan is the most important aspect in trading. Anything done with a proper plan helps in achieving the targets and goals.

Absolutely correct. Things done with a plan give better results. It also helps you in managing your time and money. It helps you to grow.

Trusting yourself, trusting YOUR plan

I scoured through many strategies, so much disappointment that it was not for me that I grew very frustrated, every pic was a loser. Today I trade 9% winners and am very happy I took years of practice and put in the blood and sweat to be who I am today. My strategy is taking an already successful winning strategy that was around 60% to 80% correct to a high 92-96% correct winning strategy. I fine-tuned it so well I remove my stop losses. (DO NOT FOLLOW THIS AS ADVICE) I have done the exact trade so many times that I know when it will break a certain threshold or not. I now have my first student who went from losing everything o now being able to pay her bills. She told me she has yet to lose one trade with me.

Money management, risk management, entry and exit strategies, as well as a market analysis strategy are integral components of the system. It will not exist without them. Everything should work perfectly and everything is interconnected. It is impossible to say which is more important.
If you need to evaluate the performance of your strategy after the test, pay attention to the number of consecutive losing trades, identify the weak points of the system, look at the maximum drawdown and relative drawdown.

Risk management is always very important. So is money management. You also need to combine analysis methods that can allow you to choose good entry and exit points.

The consistency with no deep dd and risky trades. If you are able to make 1$ per day, each day during the month, yes, it's a little return, but stable. And with larger lot size you will make 1000 dollars per day, each day during the month.

Consistency is everything because it gives you the confidence to risk more with the system. If a system has huge DD then you are not going to dare risk any significant money on that

I will always put stability in the first place.
Second is spread.
Third is rebate.

My job is to compare broker to broker for those who consult me and give out the best option for them.... So i know much how the brokers work... contact me if u feel doubted

The spread in medium and long term trading is not a critical point, but the system stability

I will say slippage and system stability are the most important things for mid-long term trading. Spread can be just neglected
For short term, spread and slippage.

Does anyone know how to model slippage when back testing on MT4?

Money management combined with a successful market strategy is very crucial for successful trading. As this helps the trader to take out the emotional and psychological aspects and make money over the long term. All the other things come next.

Most important measure for me is to minimise standard deviation. As long as a robot is consistent with now large DD then it is one I can invest in

You have to be really careful while building your trading strategies. Do mention your entry and exit points clearly and follow them when you are in the live market. Understand the importance of not getting distracted from your trades and stick to what you have already decided instead of deviating from what you were already doing.

Strategy is most important aspect of forex trading. We need a decent strategy to make money. But along with strategy we also need a trading mindset.

To be unimaginative with the answer as many have already said - risk management. You can have the best strategy in the world regarding analysis but get this wrong and it will ruin you.

First you have to gain trading knowledge. You can never make a profit without trading knowledge. Making money would be easier if we could add some important strategies to psychiatry.