You can find many trading systems strategies everywhere. There are many free strategies you can find in trade articles, newspapers, books and related websites. You can buy some of them as a program or subscribe periodically.
Beginner traders say they do not have time, competence, talent or even brains to help them trade properly. That’s why they prefer to subscribe to a trading system for hundreds – and in some cases for thousands of dollars. They say they will do nothing but receive orders that tell them what they buy, when they buy it and how much they buy, if they need to buy. Some ask me whether it is advisable to use Forex Scorpio Code Review strategy or approach in trading in financial markets. To answer this question I will have to think about the advantages and disadvantages of using this approach in trade.
There are reasons why a trader can use a strategy or system developed and tested by another person:
1. It is easy. Rolling novice does not need to study how the market works and how it interacts with the market. He will not need to teach himself: he will not need to bother himself by reading books or attending seminars. He would not need to test the system, because the seller did so for him and gave him reports about the results and promising real or virtual ill.
2. Rolling novice hopes to get the trading system at the ‘opportunity’ price: sometimes free.
Trade risk using a system or strategy developed and tested by another person is as follows:
1. Systems failure
There are some systems that contain defects. The defect involved may be because its assumptions and mandates are no longer valid, accurate or valid. As a novice trader, you will be able to distinguish between good and bad systems if you do not know how to build trading systems.
2. Discipline and trust
All systems go through periods of decline. Some good systems may not earn money for six months or even a whole year. So if the system is good, can you continue to follow it even if you cause a loss after a loss after a loss? How can you follow it if you do not trust it? How can you trust it if you do not know system inputs and outputs and have not tested it yourself?
I personally do not think that people will follow the trading system blindly even if they are told that it will bring them great fortunes. I can give someone a trading system, which I can give you with amazing real or virtual results and yet will not be able to follow up with him.
I remember that I gave my father a fully automated trading system that you developed. I told him about some simple rules and told him not to argue about them. We both traded for two months, my small account I managed to develop by about 50% (by coincidence two good months), while my father lost. He wondered why. I asked him to see the trading records. When I looked at the records of his trade he found that he had not followed the rules. When I asked him why he broke the rules he told me that he wanted to improve the results after he suffered two consecutive losses. He was trying to improve the results. According to him, the regime asked him to do some things that I think are not true in light of certain market conditions, so he did not follow them. I also found some errors, including opening positions at the market price instead of buying and selling using stops placed at support and resistance levels. I also asked him to execute trades at closing, but he often traded two hours before or after closing at his own discretion. There were many other rules they breached. He is essentially a smart man: he worked as a former civil engineer and now runs a major organization. So why not follow the instructions? Forex Scorpio Code Download simple. He did not know the underlying reasons behind the rules that he had set for this he did not appreciate. His money was at stake and after a series of losses he had lost confidence in the system faster than I did because he did not develop and test the system himself. To overcome the above risks, I can only find a way for a trader to learn how to develop a self-trading strategy. This is the only way that a trader can tell whether a system or strategy is valid or not.
Once a trader learns how to develop systems and strategies, he can also test them. At this point he may find it better to use the system he has established because it will be increasingly difficult to find a more appropriate system for his profitability goals within his risk tolerance levels. Once he develops the system to a reasonable level of efficiency, it is likely that he will get other trading systems just to dissect them and get the parts he liked to add to his own system. To me, ironically, in order for the trader to know which systems to buy, he must first learn how to create the system. After he knows this he will not need to buy another system.
In closing, I would say that if you do not tend to learn how to develop your own trading method, it might be better to give your money to someone else to invest. Give it to a person who trades using Forex Scorpio Code Scam system he has developed and tested himself because then he will have the confidence and courage to follow the rules he sets up.